So what this means is that Puritan will get all of their debt money back, as long as the $1.23 threshold is hit? I know the restrictions state Puritan can’t dump more than 10% of shares in a day etc
That math is not correct as the warrants were not priced at .0001
The warrants were all priced around .005
The warrants and the debt would also be impacted by a reverse split as it would reset the conversion price on those items while the preferred shares get locked in at a conversion of 1,000 to 1 regardless of what split happens.
Regardless your idea of equal value is way off and the stock will not hit near $2 unless a large split happens. there is nothing here to substantiate a market cap over $1B let alone near $2B
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