This means the stock manipulation has been completed and we should be at bottom. GREAT find here. You can see that they were in talks and considering this option well in advanced of the filing date of 5/29/18. This is why and how the share price has dropped so much. Stock price was at $2.60 approx and they knew that the price was going to drop well below a dollar by may 2018, and basically expected it to hit the bottom at .25. Only the insiders knew the price was going to drop. Hopefully they are clean and did not profit from this. There is such thing as legal insider trading but it is between the executives and certain share holders and it usually never effects the common stock. This article however, is basically saying that once these preferred shares get converted the stock price will hit no lower than .25 (down 82.5%???) and IMO we are seeing it drop lower because anyone who does not understand this is now freaking out and just wants out because this could keep dropping to trips. I think .20 is close to the new floor. I expect news in the next 3-9 months to bring the price back up to around $1. jmho based off this letter and the chart.
https://finance.yahoo.com/news/airborne-wirel...rc=applewf
(...Each share of Preferred Stock is being sold together with (i) one Series 1 Warrant to purchase one share of Preferred Stock, (ii) one Series 2 Warrant to purchase one share of Preferred Stock, and (iii) one Series 3 Warrant to purchase one share of Preferred Stock. The Preferred Stock has an initial stated value of $1,150 and is convertible into shares of the Company's common stock at a conversion price equal to the lesser of (a) $0.71, subject to certain adjustments, or (b) 82.5% of the lowest volume weighted average price of the Company's Common Stock during the five trading days ending on, and including, the date of the notice of conversion. For the first 15 calendar days following the filing of the certificate of designations for the Preferred Stock, the conversion price is subject to a floor of $0.25 per share, except in the event of anti-dilution adjustments. Each Warrant will have an initial exercise price of $1,000 per share of Preferred Stock. The Series 1 Warrants, Series 2 Warrants and Series 3 Warrants will be immediately exercisable and will expire on the three-month, six-month, and twelve-month anniversary of the original issuance date, respectively...)
The Offering is expected to close on May 29, 2018, subject to the satisfaction of customary closing conditions.
https://www.investopedia.com/terms/i/insidertrading.asp
Illegal insider trading includes tipping others when you have any sort of nonpublic information. Legal insider trading happens when directors of the company purchase or sell shares, but they disclose their transactions legally.
https://finance.yahoo.com/news/airborne-wirel...rc=applewf
(...Each share of Preferred Stock is being sold together with (i) one Series 1 Warrant to purchase one share of Preferred Stock, (ii) one Series 2 Warrant to purchase one share of Preferred Stock, and (iii) one Series 3 Warrant to purchase one share of Preferred Stock. The Preferred Stock has an initial stated value of $1,150 and is convertible into shares of the Company's common stock at a conversion price equal to the lesser of (a) $0.71, subject to certain adjustments, or (b) 82.5% of the lowest volume weighted average price of the Company's Common Stock during the five trading days ending on, and including, the date of the notice of conversion. For the first 15 calendar days following the filing of the certificate of designations for the Preferred Stock, the conversion price is subject to a floor of $0.25 per share, except in the event of anti-dilution adjustments. Each Warrant will have an initial exercise price of $1,000 per share of Preferred Stock. The Series 1 Warrants, Series 2 Warrants and Series 3 Warrants will be immediately exercisable and will expire on the three-month, six-month, and twelve-month anniversary of the original issuance date, respectively...)
The Offering is expected to close on May 29, 2018, subject to the satisfaction of customary closing conditions.
https://www.investopedia.com/terms/i/insidertrading.asp
Illegal insider trading includes tipping others when you have any sort of nonpublic information. Legal insider trading happens when directors of the company purchase or sell shares, but they disclose their transactions legally.
Airborne Wireless Network (ABWN) Stock Research Links
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