First of all, the company needs cash. Forbearance of exercise of warrants as,, if and when TLD is announced or some other event such that the SP rises is speculative and uncertain. Restriction on exercise of extended warrants may or may not have value and it is in any event not commensurate with value received by Linda and pals. The 6 month restriction is not a burden to LP and friends since over the next three years, assuming positive results, approvals should issue giving them sustained opportunities to realize significant value on these warrants. In any event, the value of the restriction is definitely uncertain if of any value.. I am also not sure if what value if any the deal you cite has. But for purposes of comparison, it definitely confirms the notion of a lack of arms length dealing and over reaching. Whether the deal offered to other investors was fair to the company and derivatively to investors such as yourself, I can't say. However, at least these deals were more arms length and definite ascertain able value involved. Was it fair? I would argue that it is more fair to the company than the deal Linda and pals consummated.
As I said, the company offered me me(and other investors) a deal to extend warrants and purchase additional shares in the process based upon a 10 day average price which came to about 0.153 per share. In a sense the warrant extension(for a year, not three) were the major "discount" for the cash raise in which LP and select pals did not contribute.
So I do agree with the import of your post that LP received a sweet heart lack of arm's length deal which may or may not have some value. Is it commensurate with benefits received? IMHO, no I don't think so and I would surmise you share the same view.
In any event, LP, especially at this point, should carefully avoid even the appearance of possible self dealing. The deal she and her pals got appear to be just that without further explanation. Perhaps they cannot make further explanations which might compromise the inside info they have, however, it still looks like self dealing to me.
Anyway, these are my final thoughts on the matter. Peace.
