Replies to post #171340 on DD Support Board and Research Team

[OMOLIVES]

Like this:

full ratchet warrants

full
adjective:
1. containing or holding as much or as many as possible; having no empty space.

ratchet
noun:
1. a device consisting of a bar or wheel with a set of angled teeth in which a pawl, cog, or tooth engages, allowing motion in one direction only.
2. a situation or process that is perceived to be deteriorating or changing steadily in a series of irreversible steps.

verb:
1. operate by means of a ratchet.
2.cause something to rise (or fall) as a step in what is perceived as a steady and irreversible process.

warrant
noun:
1. a document issued by a legal or government official authorizing the police or some other body to make an arrest, search premises, or carry out some other action relating to the administration of justice.

- a document that entitles the holder to receive goods, money, or services.
- a negotiable security allowing the holder to buy shares at a specified price at or before some future date.


They are of course "cashless" as well ....;)

[OMOLIVES]

So if your read that broke down definition..understand this:

If you have 1000 warrants at a strike of USD2 1/2...the full ratchet can increase such by large multiples. It is an anti-dilute measure for early investors(money puts). When more funding is obtained at a lower conversion factor..and/or...the share price drops significantly....the ratchet takes affect. Those 1000 warrants can increase to 1,000,000 and beyond....way beyond.

That is a full ratchet....