Time for some education.So I've been reading all these posts about the 10 day consecutive close above .15 before insiders can sell and I can't take the inexperience anymore.
You all need to go back to the PP and understand how warrants work.
The PP was oversubscribed at .05 cents with 6,350,000 shares
each share has one half warrant attached to it at a .08 cents exercise price for a period of Three years (36 months) from the date of close of the PP.
The clause attached to the warrants is
IF FOR 10 CONSECUTIVE TRADING DAYS, IF JENEX CLOSES ABOVE .15 CENTS THE WARRANTS WILL BE ACCELERATED with a 30 DAY WRITTEN NOTICE TO ALL WARRANT HOLDERS This ELIMINATING the Three year (36 month) time period.
Reason for this clause is to prevent warrant holders from having an unfair advantage of a strong company that has the potential to move the share price up fast in a short period of time. Which then gives Jenex another nice little cash infusion without having to dilute the common shares with another PP.
The only hold on a PP is generally 4 months after close, which applies to everyone involved before they can sell on the open market from the PP.
If you have any questions PM me or feel free to bash my knowledge about trading. Lmao
Cheers all
RD