Applied DNA Sciences Inc (BNBX)

[EschewVice]

Here's how I see it:

Initial investment of $2M @ .186 = 10,792,688 shares.

At a later date, set by the SEC, APDN will receive an additional $5.5M and the investor will receive additional shares up to a maximum of 9.9% O/S. If the price of the shares are .157 at the time, the investor will receive an additional 35M shares. If the share price is at or over .186 at the time, the investor will receive an additional 29,569,892 shares.

With the warrants, they could purchase an additional xxM shares at a fixed price of .2232 regardless of what the share price is at the time. Total dilution would end up at roughly 70M shares.

Anyone see it differently?