Wow, more insider information for us. 😃 You seem to have become the mouth piece for the CEO which is not a legal means to manipulate the market. 😏 That is how it works though right? They feed inside information of what is to come to people like you who have already bought in and now your job is to promote across all IHUB boards. This is typical Leonite prep work before they deploy the bots to manipulate the stock with tactics like wash trades.
So we have a new story to pump which is bogus but none the less. Now might be a good time for Leonite to convert the cashless warrants totaling 20% of the outstanding share count less what the Leon's hold. If Leonite decided to call them in there is nothing Shawn Leon can do about it. So the strike price is $0.001 but these are cashless warrants and this company appears to be teetering with debt defaults in my opinion. So they buy the shares at $0.001 using the cashless feature so essentially free shares at the reduced valuation. I have seen Leonite manipulate even the worse stocks up with volume and when they are done retail are handed serious losses as a result. After that Shawn Leon may as well execute the reverse split approved January 2025. The 2023 "Warrant Exchange Agreement" with Leonite resulted in 745,810,761 shares priced at $0.001. That price however resets to the level of any dilutive issuance of shares until the warrants expire in June 2027.
$GRST you wanna be in early BIG NEWS Coming and lots in January. Ceo says update on $100m Acquisition coming
All of the warrants have cashless exercise terms whereby in-the-money warrants may be exercised by reducing the number of shares issued in terms of the warrant exercise to offset the proceeds due on the exercise.
All of the warrants have price protection features whereby any securities issued subsequent to the date of the warrant issuance date, were issued at a lower price, or have conversion features that are lower than the current exercise price, or were converted at a lower price, or are exercisable at a lower price, to the current warrant exercise price, will result in the exercise price of the warrant being set to the lower issue, conversion or exercise price.
Warrant exchange agreement
On June 28, 2023 the Company entered into a Warrant Exchange Agreement with Leonite that exchanged a Warrant outstanding to Leonite originally issued on June 12, 2020 for a new Warrant dated June 30, 2023. The substantial changes to the warrant affect the number of shares in the warrant, the exercise price and the term. The original warrant provided for Leonite to have a continuing right to purchase a 20% share of the outstanding common shares until it expired on June 12, 2025 which was originally set at 326,286,847 shares. The new warrant is exercisable for 745,810,761 shares, 20% of the current number of common shares outstanding, with no allowance for adjustment, except normal adjustments due to splits or consolidations, until the new expiry date of June 30, 2027. The exercise price in the original warrant was $0.10, with allowance for adjustments, which when applied resulted in an exercise price of $0.0004 per share. The exercise price on the new warrant is $0.001 and is only adjustable if the Company issues any shares at a price less than the exercise price during the warrant period except for any issuance of shares to the Company’s president or related parties on any debt outstanding to those parties as of June 30, 2023, and limited to a conversion price of $0.0005 per share. The Warrant Exchange agreement was conditional on Leonite receiving a full payment of all of its outstanding loans originally set as by July 20, 2023. This date was extended and all of the notes were repaid on August 4, 2023. Leonite held several notes at June 30, 2023, some of which were convertible into shares at variable rates, see notes 9 and 10 above. The total amount repaid to settle all of the outstanding liabilities was $1,449,000.
The replacement warrants were valued effective June 30, 2023, the effective date of issuance of the warrants, as the difference between the fair value of the original warrant exercisable for 326,286,847 shares of common stock and the fair value of the replacement four-year warrant exercisable for 745,810,861 shares of common stock at an exercise price of $0.001 per share.