Warrants Most likely, a lot of the paper that was being sold by BMO on Friday (2.8 mill shares) was them selling warrants or them selling shares to pay for exercising the warrants.....approx 5.3 million warrants at .85 expire in two months so almost certainly this is the paper thats coming out right now -- there is also some warrants at 1.10 out there but those are still good for approx. one more year, so its debatable how many would be selling these right now -- I sure as hell wouldnt be if I was holding them.
BMO selling all that paper on Friday was a gift to anyone who bought those shares....I have not seen value like this in a long time....if there is more paper coming out next week -- then back up the truck.
Warrants
August 31, 2012
.85 5,363,480
June 22, 2013 $1.10 10,796,258
July 17, 2013 $1.10 3,203,073
July 20, 2013 $1.10 325,037
Balance, February 29, 2012 19,687,848
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Broker Warrants
June 22, 2013 $1.10 2,078,431
July 17, 2013 $1.10 464,144
July 20, 2013 $1.10 65,007
Balance, February 29, 2012 2,607,582