RE:10 million warrants?Read the financial statetments. On page 24 of their Inerim financial statement dated August 27, 2014 they show the following "potentially dilutive securities outstanding":
- under stock options: 850,998
- under warrants: 5,793,250
- under terms of convertible debenture: 4,838,710
TOTAL POTENTIAL DILUTION (TPD): 11,482,958
The warrants consist of 955,000 exercisable @ $1.00 until 10/26/2017 & 4,838,250 @ $0.155 until 8/31/2016.
The options have an average exercise price of $1.33
Basic shares = 9,276,171
TPD = 11,482,958
Total Potential OS: 20,759,129
My personal opinion is that this is a pretty tight corporate structure with the Chairman and CEO holding about half of the total potential OS. While I wasn't exactly impressed with management completing the convertible debenture financing at the bottom of the market in the summer of 2013, the turn to profitability and cash from Molnlycke should provide some assurance that no further dillution will be needed in the near term and will hopefully give the company enough time to implement their business plan to sign more major licensing agreements with market leading companies that can build substantial royalty streams for the company's intelllectual properties.