Yet… they will come
I think the recent 109 million was a convertible conversion… the 7.6 billion anti-dilution warrants are still outstanding along with the billions of convertibles with anti-dilution clauses too..
In connection with the consolidated senior secured convertible promissory note issued to Leonite Capital LLC described below, and in connection with promissory notes previously issued to Leonite Capital LLC, we have issued warrants to Leonite Capital LLC for a number of shares of common stock equal to two hundred percent (200%) of the number of shares of common stock that would be issued upon full conversion of such notes. We currently estimate that such number of shares is 7,631,368,002. These warrants have exercise prices ranging from $0.002 to $0.04 and expire at various dates ranging from September 22, 2024 to April 15, 2028. The exercise prices are subject to standard adjustments, including a full ratchet antidilution adjustment, and the warrants may be exercised on a cashless basis if the market price of our common stock is greater than the exercise price and the underlying warrant shares are not then registered or otherwise freely tradeable. The antidilution provision of these warrants is a so-called “exploding” full ratchet antidilution provision because if we issue shares (except in certain defined scenarios) at a price below the then current exercise price, the exercise price would be re-set to such new price and the number of shares underlying the warrants would be increased in the same proportion as the exercise price decrease. If the public offering price is less than the current exercise price, the exercise price of these warrants will be reduced to such public offering price and the number of shares underlying these warrants will be increased. This adjustment would occur at the closing of this offering.