The way these stooges wrote the unit plan, in order to avoid the major dilution the pps had to be around $2.25
Is is possible they actually thought they would be there?
The pps had been close to $1.50 just before the units were announced. From $1.50 to less than .03 cents is quite a drop. At the risk of sounding completely insane, any chance the scoundrels manipulated the price down to this level to get tons of shares, & then do whatever is necessary to get it back up to previous levels before dumping to make a killing?
I can tell you, I did "nothing" proactively with my units. At 8:00AM today TD Ameritrade automatically converted my units to preferred shares & warrants. As I type this, they appear as 9 digits, no symbol, price, description, etc. Just the quantity. So it looks like I still can't do anything with them?
One more tidbit: when you request the cashless exercise of warrants into shares, the closing price from "2 days prior" is used to calculate how many shares you receive. So if you exercised on Monday, Thursday's pps of .11 would apply & 1 unit would yield 205 shares. Exercise tomorrow, & Tuesday's pps of .033 applies which yields 575 shares! Clear as mud?
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