It came from discussions with Larry. I don't think it has been addressed in a PR, although it might have been. Below is an old post from derf. Most of the details of the warrant were later changed, but we have not had any different information on the tradability of the warrants:
Posted by: derf1
In reply to: None Date:11/20/2006 12:09:49 PM
Post #of 29857
Just got off the phone from talking to Larry. He is with the transfer agent going over the NOBO list. So far they have identified about 100 million shares as short. However, that figure is tentative at this point.
He provided me the following information on the SOMA and the dividend:
1. There will be no IPO.
2. SOMA should start trading on the Frankfurt exchange very soon.
3. There are currently about 40-50 million shares of SOMA stock outstanding. A few of these are free trading now and will be available for trading once trading begins in Frankfurt.
4. The new dividend shares (50/1) will be restricted for 4 months.
5. The warrants will not be TRADABLE and must be exercised in 2 months at .78. Larry expects the SOMA shares will be trading in the $1.00 to $1.50 range and thus the warrants will be attractive at .78.
Conserning China, Larry indicated that:
1. The visit by his two representatives is going very well. He is very optimistic that the deal will be completed.
2. The deal once completed will most likely be rolled into the SOMA package.
Concerning PRs:
1. None today
2. SOMA tomorrow
3. NOBO maybe tomorrow
4. Would not give an estimate as to when the China deal would be announced.
Larry talked fast and I may have missed something but the above is pretty much the information I was able to gather.
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