That is highly misleading. That was calculated at the date of signing. The conversion and subsequent exercise of the warrant is limited by percentage of the note. The exercise price is a 10% discount of the lowest closing price for the last 30 days when the warrant is exercised. Garnock has shown, by past history, to be a holding investor. 3.5 million invested in Pharmcan now worth 67 million with buying co. Cronos. Follow the money!!