Seven Arts Entertainment Inc (SAPX)

[21ZNA9]

The key issues are above: only 2.4m ordinaries were around at that time, and the warrant rights are NOT transferable, so only a few thousand warrants (remember: it is one warrant per 10 shares held, and those warrants have a price of 3c to buy) are likely to qualify by reason of still being held by the same person since 31 August 2012.

This is what holding 10,000 shares on 31 August has lost you

10,000 * 1.53 (had to buy the day before and register properly) = 15,300.00
Value today 10,000 * 0.03 = 300
Value of warrants = 10,000/10*(0.03-0.03) = $NIL!
LOSS = $15,000