Cytodyn Inc (CYDY)

[Borel Fields]

Say you own 1m warrants @ $0.65, and want to help grease the company's path to the NASDAQ by exercising them.

Also say you don't have a spare $650k sitting around. At a share price of $3.25, you would have to sell 200k shares just to cover exercise costs. And that doesn't address taxes (do warrant exercises trigger recognized gain?)

Now say holders of 46m shares sold just enough to cover exercise costs over 10 trading days. That's 920k shares per day sold into the market.