RE:Second ThoughtsMath checks out
$1.8 Price Scenario (assuming all warrant holders exercise at same time)
(227 shares x 350,000) = 79,450,000
(1.8 - 0.9441) x 79,450,000/ 1.8 =37,778,475
37,778,475/530,675,391= 7.12% dilution
$9.4 Price Scenario (assuming all warrant holders exercise at same time)
(227 x 350,000) = 79,450,000
(9.4 - 0.9441) x 79,450,000 / 9.4 = 71,470,346
71,470,346/530,675,391 = 13.47% Dilution
ManitobaCanuck wrote: Apparently the dilution is cashless exercise of warrants .
FOR EXAMPLE
if the holder is exercising 100,000 Warrants with a per Warrant exercise price of $0.94 per share through a cashless exercise when the Common Stock's current Market Price per share is $1.88 per share, then upon such Cashless Exercise the holder will receive 50000 shares of Common Stock.
If Athabasca Oil goes to 1.8$ then dilution is 7.5%
If Athabasca Oil goes to 9.4$ then dilution is 13.5%
Please correct my math here .
In short the lenders have taken thier pound of flesh , but atleast some is left on the table for other shareholders .