Can someone explain how this works please?
From Town Hall.
www.espritfinancialgroup.com is pleased to announce it has provided $250,000 in funding to Global Vision
Additionally, stock warrants have been granted, under the following terms;
1. The lesser of $100,000 worth of stock, the face value of the debt still outstanding, or 5% of the outstanding stock as of December 31st each year at a strike price based on the average price per share traded in the previous 90 days.
2. The stock warrants can only be exercised once in a calendar year, beginning June 30th, 2009.
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