that means (per the debenture) that there were just south of 4M warrants attached to the debenture exerciseable at $.10 (approximately the share price at the time of the debenture agreement). The holders have exercised their right to purchase those shares directly from the company and has therefore paid sevu $300,000 cash and still has another 960,000 warrants available to exercise. Which would also generate another $96,000 cash directly to sevu.
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