LOL budge, in your fairy tale scenario it costs him NOTHING to exercise the warrants.
Where do you think the $21 million goes -- to the same magical kingdom this laughable make-believe story came from?
No. It goes into the company's bank account which he would then own.
So under this laughable and ILLEGAL scenario, he would make a $7 million purchase of $130 million -- I'll call it $100 million for sport.
"before it hits the books" is irrelevant under California statutes. The fair value would be including the cash that has not yet "hit the books" a bunch of which is going to hit over the next 4 months.
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