There are two tranches of the 10/30/2013 warrants.

1) 46 million sold in a private placement with a $2.60 strike times 34.5 million shares if exercised and equates a to $89.7 million raise.

2) 40 million sold to Al Mann with a $2.60 strike times 30 million shares if exercised and equates to a $78 million raise.

Al said during the call that if the stock price stays above $2.60 that they will raise about $90 million in October 2013.Does this mean that he is only counting on the warrants that were sold in the private placement to raise funds upon exercise?Does it mean that he can, in fact, exercise by paying with a reduction in his LOC, as Wellsbro alluded to in his post yesterday?