The relevant "pricing month" for these 3mio warrants is September - and I guess the average buyback price will be around 0,43-0,45 - yesterday was a "normal" pricing day, if you look at the september prices.

So the warrant buyback is done and over...

The final 3million warrants are to be purchased in October, based on the following formula:

The warrants may be redeemed in quantities not to exceed 2,000,000 warrants in the first two calendar months and 3,000,000 in the last calendar month, at a price equal to the product of (a) the volume weighted average of the daily volume weighted average prices of our common stock for all trading days in the applicable calendar month, minus the exercise price of the warrant, multiplied by (b) the number of shares being redeemed from that warrant.

28-Sep-07	0.41	0.48	0.40	0.47	2,245,700	0.47
27-Sep-07	0.39	0.40	0.37	0.39	941,400	0.39
26-Sep-07	0.41	0.42	0.34	0.38	3,289,000	0.38
25-Sep-07	0.42	0.43	0.41	0.41	267,400	0.41
24-Sep-07	0.43	0.43	0.41	0.43	518,800	0.43
21-Sep-07	0.43	0.44	0.42	0.43	733,300	0.43
20-Sep-07	0.44	0.45	0.43	0.44	553,800	0.44
19-Sep-07	0.45	0.45	0.44	0.44	401,500	0.44
18-Sep-07	0.45	0.45	0.45	0.45	242,000	0.45
17-Sep-07	0.45	0.46	0.44	0.45	265,700	0.45
14-Sep-07	0.45	0.45	0.45	0.45	494,100	0.45
13-Sep-07	0.44	0.45	0.44	0.45	387,200	0.45
12-Sep-07	0.44	0.46	0.44	0.44	431,800	0.44
11-Sep-07	0.46	0.46	0.44	0.44	901,900	0.44
10-Sep-07	0.45	0.46	0.43	0.44	399,100	0.44
7-Sep-07	0.46	0.46	0.44	0.46	1,128,500	0.46
6-Sep-07	0.45	0.46	0.43	0.44	2,355,600	0.44
5-Sep-07	0.46	0.47	0.46	0.46	360,900	0.46
4-Sep-07	0.47	0.47	0.46	0.46	409,700	0.46

 

Friday's price and volume increased the amount payable to S&L by approximately $50,000, even more if the effect of the PR is considered.

I was merely pointing out the irony of a PR to support the share price cost PTSC more to repurchase the warrants.

 

 

Be well