Singing Machine Company Inc (MICS)

[NobleRoman]

I just don't recognize the warrants because they are anti-dillutive at this price. The lowest priced warrant is $9 post-split to my understanding. It would not be exercised if the price is never stable above $9, so it would never get included. It would just expire worthless one day.

So at this price, I exclude those. To me, they would be deceptive. Not even fully dilluted to me because they can't dillute at this prices.

The only thing the function as right now is an alignment of interest to those that want a higher stock price. Much higher price; otherwise, they expire worthless to the holders of the warrants. Eventually... Therefore, anti-dilutive at this juncture.