The warrant is a contract issued by the corporation and can contain any provision necessary to protect and entice the prospective warrant purchaser

Quite simply, PTSC is not a manufacturer of product but a patent licensor.

What provisions would there be to protect S&L from PTSC conatantly

distributing the dollars and keeping the stock price low.

How could S&L protect themselves without a clause entitling them distributuions similar to shareholders.

Remember the 3 dollar MSFT dividend. Teh option holders

receieved the 3 dollars in teh form of a reduction in the strike price

Well you coudn;t actually reduce S&L's strike price so you had to pay them cash

It's standard stuff with convertible pipes (unfortunately)

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