that is very common. What that means is that the Warts and common are seperate. Two securities. A Wart holder can exercise today, tomorrow, anytime. BUT IT DOES NOT MEAN THAT THE WART HOLDER CAN SELL.
The Warts, once exercised must be fully paid andthen become common. After six months and one day the former wart holder and now a holder of additional common can sell the Wart sourced common.
I trust my describtion of how such securities are negotiated / sold is complete.
Example. Joe Verybright bought 100,000$ CYDY common at 1$ in the Private Placement. With that common was 30% Wart coverage or in other words 30,000 warts.
lets say the common was fully paid for by wired funds on 11/22/2021
The warts are still there. Their 6 month run does not start until they are exercised; hence they become fully paid for common.
Lets say the Warts are exercised on 12/24/2021
On May 23rd, 2022 the common can be sold under SEC rules.
On June 25th, 2022 the common sourced via the warts can be sold.
Now all CYDY shareholders know the true facts.
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