I think you're absolutely right, posters were quick to try and portray this warrant news as suicide, when in fact it was genius. JMO
"BEST PART OF THE Q1 REPORT:
The March 2015 12% Convertible Notes, you will recall, provided cash of $13,000,000. ECIG also gave up warrants in the amount of 226,562,239 Warrants (pre-split) or 18,428,317 warrants post-split. ECIG, if they paid back the Notes within 30 days were entitled to a 50% reduction in the warrants given.
Subsequent Events. On April 27, 2015, the March 12% Convertible Notes were repaid in full, and the warrants were cancelled.
That's right boys and girls - the warrants that provoked fits of hysteria - the ones that would be an albatross around ECIG's neck, that would never be repaid to allow for a 50% reduction, were actually CANCELLED. A 100% REDUCTION.
That's important. There is more than meets the eye. My take is the holders of the 3 year $41 Million term loan that got all the warrants were also the 12% Noteholders, and they agreed to forfeit the earlier warrants.