RE: expiration of warrants... From a November Post
600,000 finders warrants are in the money currently - That's it
The 3 Million block - Expire Dec 2011 - Currently exercisable at 10 cents (not 5) - Currently out of the $
The 20,585,105 block - Currently exercisable at 15 cents - As of This month (November 2011) they go to 25 cents.
If you have not looked at the Financials (or choose not to as that would be counter to your argument) - read section 8 in the notes : You will see the following note:
Each warrant with two exercise prices entitles the holder to acquire one common share of the company for the lower price disclosed for the first 12 months and at the higher price for the following 12 months. A single price covers the entire term of the warrant.
So, again for ex: The 3 Million block - Has had a 10 cent strike price Since Dec 2010
| 3000000 | Dec-11 | 0.05 | 0.1 | Out |
| 100000 | Mar-12 | 0.1 | 0.2 | Out |
| 1000000 | Mar-12 | 0.1 | | Out |
| 65000 | Jun-12 | 0.1 | 0.2 | Out |
| 2500000 | Aug-12 | 0.15 | | Out |
| 20585105 | Oct-12 | 0.15 | 0.25 | Out |
| 3079999 | Nov-12 | 0.25 | 0.4 | Out |
| 2499998 | Dec-12 | 0.25 | 0.4 | Out |
| 500500 | Sep-12 | 0.15 | 0.25 | Out |
| 600000 | Jun-13 | 0.18 | 0.36 | Out |
There are 2.9 Million options that may get triggered with their 13 cent strike price and out to 2015 in some cases.
So if the stock was able to make it to 20 Cents this time next year, 5 million shares would become exercisable.
2% dilution (5 Million / 190 Million) would mean 1/2 a cent impact on the stock price at 20 cents and the company would have received $675,000 for the exercise of the warrants/options.
no yikes....