In agreement with you Go! IMHO, the outstanding warrants and options are divided down proportionatly to the 60:1 reverse split, and converted to tradeable equities. The holder is then allowed to sell their stock directly to a deep pocket person/entity.
These secondary offering purchasers are seeking a significant position in the holdings. Purchase price doesn't have to match current market price. Negotiable.
Here's a Google search that returns a lot of legal references GOOGLE SEARCH, hell some can even be understood. Where's JDLAW when we need him:)
And it's also easy to understand frustration on our part right now. I don't see what I understand as dilution in this. Dilution already happened. Happened at such a large scale, we retail holders are in a little tiny minority.
Still! Thinking this is the best route. Also thinking it will occur (culmination of the secondary offerings and the uplist).
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