Mike,
Good question about Blair with only 4M shares vice 7M that we expect. I have one possible solution, but I'm not sure how it all works...your advice please. Antex Biologics trades its common shares under ANTX as we all know. But if you go to "www.bigcharts.com" and put in ANTXW and ANTXU you will see warrants that expired worthless, as we all know in Dec '97. These are from the IPO. They traded in '97 at $.04-$0.22 (essentially worthless) and expired as such. However, the ANTXU may be the "Units" (3.5M + 3.5M = 7M shares) that Blair owns. If, as this chart shows, a few traded this year, then Blair may not own all of the units at the present time. My question is, what the heck are these ANTXU's that are, and still are, trading if they are not the Blair units. The spread is always around 35-50 cents which would explain the Blair units, because if you bought one of these and exercised it you would get the price Blair would pay for them, ie. pay $0.42 and get a share of common at todays price. ????
Rip |
