No. What it means is that they gave the warrants away for free. They thought they were selling shares for .22 cents in exchange for $2 million, which seemed fair...and they thought the warrants were worthless.
They are not worthless, as I stated to Dan numerous times. They are worth $736k which they just "threw in" as part of the deal.
That's the point. They had no idea what they were doing.
Krombacher - the above is my opinion, and may be wrong.
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