"fut, yep, i'm making this stuff up as a go along"

I know you are. That's the point of most of my posts to you.

"when an accountant is doing his dd, he must look at the aspect of stock dilution as it relates to valuation of a company,stock is an asset, i think you can understand that concept, right, when a company allocates that asset, in return they are to receive fair value, ie monies equivalent to the value of a share of stock, and it goes on the balance sheet, are you still with me, "

This statement shows such a lack of understanding of accounting concepts its laughable. Stock is not an asset on a companies balance sheet - it is part of equity. Companies do not allocate assets, they record assets at the cost of purchase. When cash is received for the issuance of stock it is recorded on the companies balance sheet as an addition to cash and either an addition to Capital Stock or Additional Paid in Capital.

"ie, .015 cents for some of the repriced warrants and at the time when the accountant looks up the sp and it's anywhere from 50cents to 2 bucks do you not think there may be an accounting problem that needs to be addressed,  that is not an acceptable practice per gaap"

The transaction you describe has nothing to do with gaap. Gaap describes how the transaction should be recorded and that's it. There's no problem here. It's a perfectly legitimate transaction.

"it has to do with valuation and when a company gives warrants away on a cashless basis for no apparent reason other than a payoff to remove an extremely toxic funding clause that is even worse,"

This statement shows you have a total misunderstanding of what "converting warrants on a cashless basis" means. So I'll tell you. I'll type real slow, so you can absorb it.

In order to convert warrants to stock the purchaser has to pay the price attached to the warrant for the stock, whether it's 1.5 cents, $1 or whatever. The purchaser owes that money to the company. Now let's say they want to consumate the deal without the purchaser having to come up with the cash. Simple, they turn in additional warrants in place of the cash. Example - TC has 10 warrants to purchase ptsc stock at $1 per share. PSTC stock is trading at $10 per share. So to convert the 10 warrants, TC would owe ptsc $10. TC turns in the 10 warrants but only takes 9 shares. PTSC keeps one share, worth $10, instead of taking cash.

Bring it on, bulldog. But come with your A game. So far all I've seen is minor league stuff.