On Februry 28, 2007 Lincoln Ventures had 32,248,173 shares, of which 23,845,100 were warrants. 7,000,000 warrants are being purchased by PTSC. This gives a maximum holding for S&L of 25,248,173 shares. Obviously, 16,845,100 warrants have since been converted(on a cashless basis?)thereby further reducing the holding.
This talk of S&L holding 9.99% or 40m shares is therefore spurious.
S&L are also prohibited from buying any PTSC shares during the warrant purchase period.
Be well