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Saturday, May 04, 2024 9:21:14 AM
The strike price, which is also known as the exercise price is $0.005, which is the price you can purchase the stock. So currently those warrants are 'in the money'.
The $0.02 is the price the company has the ability to call the warrants meaning force the holder to exercise it. This is a nice way to raise cash if needed.
So while the 1,347,635,075 warrants @ $0.005 are currently 'in the money' since the share price is higher @ 0.0092, if they were exercised and sold, it would crash the share price which is an anomaly anyway as typically the share price would be around the private placement price of $0.0003. Wouldn't surprise me if it starts drifting there now that people know you can buy shares at that price by reading the filing.
The warrants may eventually go away if the share price lingers for another 9 months. I'd be more concerned about the 35,800,000 class B shares that maybe people aren't aware of it they didn't read the filing.
35,800,000 x 50 = 1,790,000,000
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