also, that 40 million number is incorrect in future projections, hence 10 million of that has already been exercised, thus future projections should use 30 million. not even that really, future projections should be calculated in increments of 5 million every quarter with a complete guess has to the pps at the time of delivery of each tranche. The next tranche becomes available in september (I think). What will the pps be in Sept when the third tranche of 5 million becomes available? The end of the year when the fourth tranche of 5 million becomes available? etc...
A little too much wild speculation for me but interesting nonetheless.
I believe the actual dilution amounts will be much less than predicted.
after all...
business is blüming!!!