The dip is just due to the raise at $.40. Those i

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The dip is just due to the raise at $.40. Those investors are just de-risking and keeping the warrants.

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Yes and my previous point, maybe they could have seen who sells and who holds based on previous filings and offer those that held first.

Second point to why the June TO was better, because shareholders were giving up their de-risked warrants, taking on all additional risk. With this latest shares+warrants, one can de-risk, keep the warrants. The TO was by far the better strategy to raise money imo, but it ran its course.