Metanor Resources MEAOD

RE: RE: warrants

[gahdc]

Frog2 :  I think that the hiring of a Market Maker and the last announced financing is to make sure that the December warrants DO NOT get exercised.

Can you explain how MTO benefits in that? The warrents would have brought in about $6 mil, I think, at prices of
.50 and
.60 per share and at less share dilution than we are now getting at $8 mil at lower price offered of
.34. Did MTO think that the Dec warrents were going to expire unexercised because the market price was still below
.40 as we approached the Dec. expiration? If MTO had been counting on that $6 mil from the warrents, then they may have felt doing the PP was better than getting nothing in  December and also they would be doing a favor for the institutional warrent holders by giving them a chance to get in at a lower price than the warrents just before we go into production. I'll bet a lot of our current big shareholders and Dec warrent holders will be the ones buying into the PP at
.34.