They own warrants not the underlying shares. The SC rules require constructive ownership disclosure. If the warrants were exercised and they owned the underlying shares, ECOS would have needed to disclose the exercise in their subsequent event footnote. No disclosure there.
If they did exercise the warrants and owned the shares then this 10K would be materially incorrect.
"LRS currently owns stock in ECOS. look at the filing."
Wrong! Owning warrants and owning stock are two different things. LRS currently owns the right to buy the stock (warrants), but has not exercised that right yet. Basic stuff.
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