The inducement warrants have immense value.They don't have to trade to have value. 30 months term. Big volatilityfactor. Low strike price. The award of them is several hundredmillion dollars of value. And i am not talking about what the balancesheet says there worth.Get a financial manager to do thecalculation.A ridiculous and unfair value trade for early exercise of the otherwarrants. 85 million warrants end in 5 bloooddy weeks anyways and are already deep in the monies.
85,200,000 Class A warrants with an exercise price of $0.07
The Class A warrants expire on December 19, 2009 anyways.
Ifa holder electsto exercise an Existing Warrant, the Company would issueto that holderan inducement warrant (the "Inducement Warrant"),representing the samenumber of shares as the Existing Warrantsexercised by the holder. TheInducement Warrant would be exercisable for24 months from the date ofissuance at a price that isthe Company's shares' volume weightedaverage trading price as traded onthe TSX for the five daysimmediately following issuance of this newsrelease. The holders onlyhave until November 13, 2009 to exercise Existing Warrants in order toqualify for Inducement Warrants.
THIS IS CRIMINAL.THE HOLDERS WILL EXERCISE .O7 WARRANTS ANYWAYS BEFOREDECEMBER 19 WHY GIVE THEM 85 MILLION MORE DILUTING WARRANTS FOR A FIVEWEEK BUMP.THIS CANNOT BE ALLOWED BY DISINTERESTED STOCKHOLDERS.
WHO NEGOTIATED THIS? ANNE BOLEYN AFTER THE BEHEADING?
The stockholders have to speak up now.The only chance they have is nowto be heard. If not the Euro group and insiders will elbow their waypast..Make it as big a no vote as possible. My barrister said that will help in the eventual shareholder lawsuit. You let em off the hook now no judge in the world will help later. Let theregulator see the no votes. Force these decapitateds to do a morereasonable financing.The times are changing and the conditions arebetter now.The insiders knew this all was in the offing. Dont try andsay these guys took big risks.They had all the info all the time.Theywere fully protected with their guys in place.
The exchangeregulator putting conditions in is a gift to the stockholders. Dontwaste the gift.The regulalor should have got involved when the Eurogroup took control for a nickle in the first place. Many smallerstockholders would have invested given the chance and opportunitywithout diluting themselves.
Just watch.The thirty days tovote on the first set of inducement warrants will roll out and the price improvement and restart will prove theutter magnitude of the massive value grab being perpetarated from restof the the stockholders. Assuming certain bandits dont push the price down tofake another distress.