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Microcap & Penny Stocks : Tokyo Joe's Cafe / Anything goes
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To: Joe Copia who wrote (4991)4/7/1998 4:10:00 PM
From: Andrew H  Read Replies (2) of 34592
 
>>andrew. on IFLYW after the terms of the exercise price (stock must close above 10 for 7 of 10 consecutive trading days.. ) you can then convert your warrant for 1 IFLY common plus .05 right?<<

Its Andy, Joe. I did not ask that specific question, but I seriously doubt it. My guess is that the .05 is what they will give you for the warrant if you don't convert it. The price of the conversion is 1 warrant + 6.25, not 1 warrant +.05, if that is what you are suggesting. Before or after the stock trades at 10 or higher for the 7 consecutive days, the conversion price is one warrant + 6.25.

After the 7 consecutive days above 10, the company can call the warrants which means that you have a relatively short period of time (most likely 30 days or so) to convert your warrants to shares at the 6.25 strike price. That is my understanding.
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