RE:Endless posts Sorry to see this playing out here. I don't think this Board understands the impact of the private investment that was made and the actual price they gave up to raise 8.5 million net of 7% fees. People are missing the value of the warrants.
Raised price: 1.50
Fees: 0.105
Net: 1.395
People don't understand the hidden cost of a warrant with a very close strike price and 3 year time to vest and a stock with a coefficient of variation of 1.00. The value of the warrant when it was issued was worth $0.90 per share when you input it into a standard black scholes mode.
So when you subtract that after fees, KNR raised money at $0.50 / share net.
You can type in the inputs into any black scholes calculator to value the warrants. That was a very expensive equity raise.