the warrant shares are not issued. Those restricted shares either went to debt conversion or insiders for capital.
If the warrant shares were in fact issued their SEC filings would be materially incorrect.
All the disclosure in the 10-K states was a projection of what LRS share would have been based on shares outstanding at that time. Another annoying SEC disclosure requirement of potential obligations of the issuer. The number of shares issuable for each 5 1/3% increases each time the O/S and Restricted goes up. When the dust settles my guess is LRS will be entitled to close to 3bn shares for all of their warrants.
By the way there is another error in the 10-K they just filed. I am going to hold this one for a couple of weeks to see if they found it.
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