RE: RE: RE: RE: Warrents I found some information from the 2011 annual report.
there were 2 events
1) Southpointe capital bought 240 million shares pre consolidation for 3cents and were given a warrent with each share to buy a share at 8 cents any time before April 2015
2) in Feb 2011 shareholders were given the same opportunity and 84.5 million shares were sold at .03 and they were given a right to buy a share at 8 cents by Feb 2016
the post consolidation price was $.54/share for the stock and $1.44 for the warrent.
There are 18 million warrents out right now. If the shareprice gets over $1.44 and these warrents get issued the company would get $26 million
I was very surprised to see that the stock price today is just slighltly higher than the in 2011 when the company made the offering. Adherex was almost out of business and if it wasn't for Southpoint protecting there investment and agreeing to purchase the follow up shares it might be done now.