Shail...As an attempt to demystify the S-1, I was simply trying to apply numbers to the offering. You might be easily right about not being able to sell the shares back at their purchase price which would nullify the scenario from the earlier post.
However, here is another way of thinking about the S-1. Again, if the strike price for the shares is $6 and if APDNW starts trading at $4 (the proposed worth of the warrants by Maxim), this would mean that your S-1 shares actually cost $2. But as I wrote before, I doubt if APDNW will begin trading at $4. According to Black-Scholes the APDNW warrants supposedly have about a $4 value, but you know how that goes. Nevertheless I remain highly confident that it will have some value on the open market. Even if APDNW trades as low as $1, this will still translate into a $1 discount to the S-1 shares instead of $4.
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