PJ, To be honest with you, I didn't have much and didn't buy the warrants to convert, but for leverage. Hoping that in case the common goes to $10 before March 1 the warrants could be worth $6.50/share at least. At which point I'll sell.
Can't answer some of your questions for I don't know the answers to them for sure, but this I know that if the warrants are not extended and they are allowed to expire by March 1 without being exercised it becomes worthless. Also, at $4.00 conversion, with 6,000,000 shares floating the company stand to gain 24,000,000 dollars if holders convert. The only disadvantage that I see if the latter scenario occur is more dilution on the common. As you know, Wall Street doesn't like that.
On the other hand, should the company decide to call the warrants, then the AIPN stock price should trade at $8.00 or higher starting January 14-15. Why? Because based on its SEC Filings, if this is the plan that AIPC wants to take, then it is required that its common share price be trading at a min 8.00 dollars for 20 consecutive days. On top of that, AIPC needs another 15 days to notify shareholders of its intention. So, roughly we are looking of about 45 days grace period for the company to get the job done prior to the March 1 expiration or roughly Jan 14-15. Actually, if this is what the company intends to do, it will be very bullish for the stock.
Hope it helps and good luck. Happy New Year! Sycamore
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