Singing Machine Company Inc (MICS)

[NobleRoman]

PF Warrant Enigma

So in this post, I went with 2.7 million shares on the OS, but then corrected it to 2.2 million because of their own filling. I said on the record here:

That woudl be 2.7 on the high side. I'll fix that. I don't understand that, but I'll include it to err on the side. I wish a Finance major could explain those pre-funded warrants in very simple English and why they aren't already included in the OS. Why would they be eternally accounted for separately???

So now they are included but weren't last week? WTF do I not understand about these annoying PF warrants. Is there a finance major in the house?

So they got exercised apparently in the last week or so. The exact number of PF's now make up the difference in our current OS going by memory. But if they were pre-funded, the company could not have received cash for them. They already had the cash, right? I really don't get it... Then why weren't they exercised to begin with?