There are 250 million warrants that became exercisable into free trading stock starting back on Dec 3. They have a strike price of $0.20.
The convertible Pref B could start being converted on Dec 4…but are not free trading. They won’t be able to do so until Feb 26. So this is just the warrants.
About 300 million shares will be eligible for legend removal then…and their cost basis is $0.00001 per common share.
In addition, if the S-1 goes effective, that will accelerate some of the Pref B’s ability to be turned into free trading stock.
Right now you are seeing what maybe 50-60 million shares can do to the price over the last 45 days or so.
Just imagine what 6x that will do come the end of Feb.
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