As of 3/29/18 PNTV had 589,627,546 shares outstanding (OS). If you add 18 million shares the OS only gets to 607,627,546 shares. 4.99% of that is 30,320,614 shares. Until and unless PNTV issues more shares, the only way Kodiak could use their warrant shares is if PNTV makes them buy a small purchase, lets say 1,000 shares, at $.14/share, and then Kodiak would only be able to exercise the warrant for 30,319,614 shares (not the full 37.5 million allowed in the warrant) at $.14 x 140% or roughly $5,942,644 (at $.196/share). However, at that point you'd have to wonder if PNTV would still need any more money from the 37.5 million original put shares in the next three years before the contract expires. Kodiak also couldn't make any money (i.e. sell the warrant shares) until the pps was over $.196/share (the price they paid for them).
18 million shares sold to four lenders, even if it's at a steep discount, is not enough to have a toxic effect on the share price. That's less than 3% of the outstanding shares divided among 4 or more entities. If you think they would coordinate their sales to drive the price down, please explain to me why they would do that. Besides, all of these shares are restricted and can't be sold for at least 6 to 12 months. More than likely, most of them went to (or will go to) PNTV execs as a hiring incentive or deferred compensation.
Market Data 
Markets 
AI
