Yes, upon warrant conversion that should be another 9.6 M shares, but that also this should raise more capital, if I understand this correctly. Figure that secondary at $1.50/share against 9.6 M shares and they raise another $14.4M or $13.392M after the 7% commission.

Imagine that boost in working capital. For the stock to be well north of $1.50 they have to deliver more customers/sales, so they must be banking on this. However, the warrants have a life of 5 years, so don't expect too much too soon, yet capital is of the essence.

This is my understanding based on reading the SEC filings excerpts and other explanations. I could be off on all of these calculations, so do the math and share your view.

Certainly they need to give clarity after they close the offer. I would imagine they already have it all sold or we would have gotten direction on how to participate. So this must mean high net worth investors and/or institutions are in play. Just my guess at this point.

I could go for another 2013 run again.