Ok, then it's a very clear line. If ADXS now has $20+ million in extra cash, then there will be no need for a massively diluting equity finance round, sparing them time to work out a better deal.
CATT the word “exchange” of warrants for shares cannot reasonably be interpreted as the “exercise” of warrants. If the holders were simply exercising the warrants then there would be no need to disclose an agreement. In fact there would be no need for an agreement at all. Also, why would the holders exercise warrants at $1.50 when the stock is trading at $.50?
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