BONTAN CORP INC BNTNF

RE: was i ever

[ajootian]

As of 3/31/05 there were about 13 mill. shares out per the annual report, so that means only ~ 1 M shares got issued between then and 8/15. About 700K warrants got exercised in June when they had that Blue Light Special @ $.60, so that just leaves another 300K new shares. Not sure how many of those came from warrant exercises vs. other means. We will hopefully find out more about this stuff when they file their 1Q report on Sedar, which is due Wednesday I believe. From the above it would appear that many of the warrants that are expiring this quarter are not getting exercised.