No, i agree that the company got cash for most warrants exercised.
Many of the hundreds of millions of outstanding warrants have exercise prices well below even today’s pathetic stock price, so it’s less.
In addition, a good chunk of those OS shares are Series C conversions which do NOT give the company revenue.
It will say in the 10K what portion of their revenues came from each source. My guess is $15 million in new shares and $20 million in warrant exercises.
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