The AS is 250 million. You're assuming that all Warrants are going to convert prior to the buyout, when we know the Canadian court blocked any sort of AS increase and the TA told me on the phone that they weren't aware of any such conversions.
My guess is that if anything, the Warrants would just be bought out at some valuation. I don't think it would be a very significant amount of money as the total equity offering was only $7M.
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