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To: TrueScouse who wrote (26824)12/1/2006 5:07:22 PM
From: onepath  Respond to of 78420
 
I agree that the vet had it wrong .However I looked to IMG's clarification of the warrants.It is clear that the strike price of the IMG.Wt which is 2.38 shares of the old CBJ.Wt.c is $8.93....tyke states...

"
one warrant plus 3.75 will buy .42 shares (point 42) of IMG."

which works out to $8.93 as well on strike price.

Partial warrants are crappy I have the same thing going on in the conversion figures for DEN.WT.a's. Also like I mentioned I easily could be wrong as there is only one correct answer.So I am sure we will get it figured out soon.



To: TrueScouse who wrote (26824)12/1/2006 5:13:28 PM
From: tyc:>  Read Replies (1) | Respond to of 78420
 
Hi Howie ! Onepath nailed it here:

Message 23061759

One warrant (now worth ~$1.70) plus $3.75 buys only .42 shares of IMG; because each old CBJ share was converted to .42 of a share of IMG. .42 x @$10.98 is $4.61. If you subtract the required payment of $3.75 you get the intrinsic value of the warrant; the amount by which it is in-the-money; .86 cents. The warrant costing $1.70 is no bargain, but it is a fair value IMHO.


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