Fannie Mae Preferred S (FNMAS)

[5bagger]

Warrants have been counted in the EPS for years

go to any financials since c-ship

fully diluted shares include the 80% warrants

My point: Since they were counted since 2008 and the DTA is still allowed, it would seem that the DTA would be allowed when those warrants are actually converted.

Accounting rules allowed the DTA to be brought forward in 2013.

Accounting rules dictate that .00001 penny warrants should be considered as 'exercised' since they are below the PPS. Any 'reasonable' on-looker would construe and perceive that a warrant would be exercised for a stock at $3.00.

Some common-lovers seem to think the warrants won't / can't get exercised, but the share-count (vetted by the auditor) would have me believe they review that every quarter - whether they are exercisable.

Those dang accounting rules.