MNP Petroleum Corp. (MNAP)

[oldguy]

The company issued a new prospectus which includes the exercise numbers on the 4/10 warrant issue as well as the numbers of warrants outstanding on the 4/30 and 9/8/10 warrant issues. I know many people don't like to read this stuff, so I will summarize here.

The number of warrants exercised from the April 10, 2010 warrants was 2,447,387 yielding 1,443,000 approximately.

The warrants outstanding expiring on 4/30/10 are 3,559,323 at .59. There are 4,000,000 warrants outstanding expiring on 9/4/10 at .95.

There is a list of the names of the warrant holders on page 16. Hunziger and Haywood are there. You may want to look to see if you recognize anyone else.


These 3.4 million pending shares, may be depressing the market at the moment. It also may account for the huge spread. If you were an MM would want to be holding a bunch of shares if 3.4 million suddenly appeared on the sell?

If this is the problem, the market may loosen up late next week.