How To Find Big Stocks

[Justfactsmam]

Ready what you wrote and asked...it would appear

1. Notice of Acceleration of Execution of Warrants may occur after 10 consecutive days with stock at or over $6.00

2. At Execution of Warrants...warrants are converted to Shares (securities) per terms (restricted 144 shares I presume) upon which warrants were issued, accordingly...

3. The newly issued Securities would be subject to a further holding period (4 months) after which the Securities could be sold.

4. So if SPHIF traded for 10 consecutive days...the company could "call" the warrants, at which time the Stock which the warrants authorize the company to issue would be paid at the agreed upon price by the Warrant holder and the company would receive the cash.

5. The holder of the Shares received through the warrants would not be able to trade the shares until the restriction is lifted, which could not be done before 4 months from date of conversion.

Bottom line...the "Overhang" is not the Warrants...but the Stock which was received via the warrants. The "Overhang" is the sale of that stock into the market at above the exercised strike price, but below where the market might want to take the stock. In otherwords...we wont know how much of an overhang the Warrants will be for another 4 months after the company "calls" the warrants.

By that time...it is my hope the company is bought out at some hefty "disruptive" multiple and we dont have to worry about an overhang.