TK - the success of the warrant call will depend solely on the Q of warrants that are actually converted and this is **unknown** or remains to be seen... I believe that when mngt called the warrants, they did so assuming that not all of the warrants would converted - that in actuality, only a portion of called warrant $$$ is required to achieve their plans. If all the shares were converted, the extra $$ would be mere icing-on-the-cake.
However, what MGMT DID NOT count on was this thread, Rod "MIA but still dreaming" Babcock's proclamations to investors of making BIG money from the warrant conversion oppty, overestimations of BNGO's last Qtr's earnings & subsequent investor disappointment, and the highly LEVERAGED positions that investors had taken in BNGOW (i.e. expecting to sell shrs of excess shrs of BNGOW @ higher prices to fund conversion of addt'l warrants w/o having the capital to convert otherwise). Anyway, many investors have not/will not be able to convert their warrants & at the price level, many will choose NOT to sell them as too much $ has already been lost. Some invetsors probably will have the attitude "why should I sell my BNGOW's to someone who will convert @ these P levels... i'd rather screw them since they've already screwed me!" Human nature plain & simple.
The key to it all is knowing whether or not the expected # (by MGMT)of shares are converted is realized, & your guess is as good as mine. All that I can speculate is... that if this # isn't realized, future days will not be good for BNGO. Only MGMT knows the answer to this. In my opinion, @ current prices, less people are inclined to convert.
Hope I didn't babcock.. I mean babble too much.
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