Pursuant to the Exchange, all of the Warrants are being exchanged effective as of August 22, 2014 (and all such warrants are being terminated) in consideration of the issuance by the Company to the Warrant holders an aggregate of 54,030,950 shares of Common Stock (the “Exchange Shares”). The number of Exchange Shares issued to each Buyer was determined pursuant to a formula set forth in the Amendment and Exchange Agreements. Of the aggregate Exchange Shares, 49,660,465 were issued as of August 22, 2014 and the Company has reserved an additional 4,370,485 Exchange Shares for potential future issuance due to contractual limitations on ownership as agreed to with a Buyer.
Dumping over??? Very possible.
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