This is what I get from that list of warrants. The following does not include the most recent warrants that had their accelerated expiry clause waived. So what is about to occur this week if the SP holds up is the triggering of the accelerated expiry of the following warrant numbers:
Accelerated Expiry Triggers
18,337,000 warrants at 20-day VWAP of $0.20
8,333,333 warrants at 20-day VWAP of $0.30
26,670,333 total (likely triggered this week)
Proceeds:
$0.20 trigger: 18,337,000 at average $0.1501 = $2,753,810
$0.30 trigger: 8,333,333 at $0.17 = $1,416,666
Total 26,670,333 at average $0.156 = $4,170,476
I can't see how they can ask these way less in the money warrants to step up or let expire in 30 days when the company very recently waived the accelerated expiry clause on the recent 4-yr $0.09 warrants. Wouldn't seem fair to the much more long-term, less in the money and stressed-out warrant holders listed above. JMHO