"To get the underlying shares they need to pay the exercise price. "
again then why would they report
Balance December 31, 2015
- <-----0 balance
Warrants granted – Lakeshore Recycling Systems, LLC
519,567,390 <---- then shows their initial share granted plus the other 3 warrants which are still available for exercise.
Balance December 31, 2016
519,567,390
the 16% which they are going to acquire comes out to 960,000,000 shares. not the above amount