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What do you mean they are free shares? They still have to pay for it. It's worthless if SP doesn't go pass the warrant price. They are in no way free.

I'm really lost in your post.

Now lets go to your second one.

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They are free in the sense they are additional to the shares you actually purchased in the PP. What I mean by this is you are not being ripped off if they expire. Of course they have to pay for them, but in a way you won't be paying for them if we are bought out. You would just recieve the difference (although I guess maybe you do have to pay, but you get it back anyway). I feels unfair they get to keep the warrents for so long, they didnt come to fruition, thems the breaks. What is a real arguement for extending them besides people wanting to keep more shares?

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Who said we need to replace them? I think you misunderstood nopoo's post.

He's basically telling us there is a generalization of junior companies in the past years where they have repriced a lot the stock options or reissued them in order the strike price is close to the current share price. Shareholder loses because it increases dilution and it doesn't give management any incentive to get a higher value.

There is really nothing to take from this extension. It was always included in our fully diluted shares outstanding anyways. One positive part from it is that EE can exercise them if we ever need money without increasing the shares outstanding.

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I can kinda see what you are saying now, but why would we reprice them then? Why shouldn't they just expire? Happens all the time. Why do the people who took part in this PP recieve a special treatment when other PPs in the same company didn't recieve such treatment?

Of course other juniours are going to reprice them, they NEED money, so if they do drop the price by a factor of 10 and increase the share count by 10 they may get someone to actually buy someone as they know no one wants to take part in a new PP because the market for this kind of thing is very dry the last few years.

I don't see why it matters that it was included in the fully diluted, obviously it is that is what fully diluted means, but if they were to expire the fully dilutedamount would have went down reducing dillution. Sure I guess EE can excercise them, but he isn't going to be doing that if we need money unless the stock price is there. He isn't insane. Then one can just say if the stock price is up there, well we could just do a PP that is smaller and toss more expensive warrents on it and he can buy those if we need money, which would be less shares than what we just extended, cause the PP could be 1.00 and the warrents over that. So I don't see the positive you mention at all. Only negative keeping our fully dilluted shares higher when we don't need them. Those warrents are gravy to anyone who has them, and guess what, its moldy imho.

Of course there is nothing to take from it, unless you can prove they are actually blacked out, but as I said I believe there was warrents that did expire last year.