"Curious…what is the actual value of a non-tradeable warrant that is out of the money?"
Technically, the warrants are worth the same value as if the warrants were fully tradeable. Black-Scholes on a highly volatile stock with almost a year to go before expiration. I'm just thumbing a number, but I would guess they would trade at eight to ten cents if they were trading.
That said, and as I said before, George has been converting. That means he thinks the market has priced Humbl shares way too high and he wants out despite the remaining time value on the warrants. I think he's correct.
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