Hey FranjullAre you for real,
How can you justify including the warrants in your math, without adding the cash raised through their exercise ? You mean that you don't know that a warrant is nothing but a right to buy a share of AFA at a certain price, and for the warrants to become a share, the investors has to give the Corporation money.
So for you to use the FD number, and not had the cash is not honest, but we all know that you have not been the most honest poster...