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Re: biosectinvestor post# 281147

Saturday, 05/02/2020 10:33:58 PM

Saturday, May 02, 2020 10:33:58 PM

Post# of 682068
The 29 million warrants that were extended were D-1 warrants that were tied to the Series A preferred shares.

https://www.sec.gov/Archives/edgar/data/1072379/000114420418014763/xslF345X03/tv488530_4.xml

So LP has agreed to tie up an additional 39.20 million warrants along with another almost 10 million warrants until November 2020, as well as these 29.4 million D-1 warrants, in exchange for extending these same 29.4 million warrants for another 2 and a half years.

From the proxy (and the first 39.4 million included the 29.4 million):

Consists of? (i) 29,411,759 shares of common stock held by Ms. Powers, (ii) 39,371,570 shares of common stock underlying currently exercisable warrants, and (iii) 39,200,000 shares of common stock underlying currently exercisable options.



https://www.sec.gov/Archives/edgar/data/1072379/000110465920039528/tm2013863-1_def14a.htm

That is certainly worth something. There could be a bit of a run on the share price from data lock to top line (there should be anyway, but with NWBO, things rarely ever goes the way they should). And if top line is good to stellar, we should definitely see a run up in the share price. And LP has effectively taken her almost 50 million additional warrants off the table until November in exchange for extending the 29 million D-1 warrants, which are also suspended.

I'm not sure many other longs would have agreed to suspending ALL of their warrants for the next 6 months (which could potentially see some real upward movement) in exchange for extending a portion of them. Most longs instead bought additional shares (and really great prices) and received the extension and reduced warrant pricing.

So with whatever number warrants actually did expire, LP's 79m warrants are also removed for the next 6 months - so they cannot be exercised and enter into the market place. It looks like we wait for the end of this upcoming week or the beginning of the next week for the 10Q to see how much the warrants were reduced by, as well as whether Cognate's 52 million are still included in that number.
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