TELECOMWORLDWIRE-January 10, 2012-Plessey Semiconductors signs licensing and warrant agreements
with Intel(C)1994-2012 M2 COMMUNICATIONS http://www.
In this paper, we examine the efficacy of provisions in warrant agreements
that allow managerial discretion in the timing of raising capital.
The taxpayer's counsel drafted the warrant agreements
separately from the product purchase agreement, for three reasons.
Michael James, CEO and President for Portrait Displays said, "We are very pleased to have concluded the share warrant agreements
with Intel Capital.
In addition, as long as those warrant agreements
were in place, we were subject to recording a non-cash, mark-to-market adjustment each quarter due to any increase or decrease in the price of our stock.
The claim is based on a provision in the warrant agreements
that would permit a "ratchet down" of price and a multiplication of number of warrants in the event of certain share issuances by Liberty Star Uranium & Metals Corp.
8 million shares issuable under option and warrant agreements
generally accepted accounting principles currently in effect, the borrowed shares will not be considered outstanding for the purpose of computing and reporting earnings per share because the shares lent pursuant to the share lending agreements must be returned to the Company on the final settlement date with respect to the final expiration date or final termination date under the warrant agreements
, or earlier in certain circumstances.
With the proposed revisions to the warrant agreements
, we will simplify our capital structure and materially reduce the fully diluted share count.
It is the intention of the parties to the warrant agreements
that these securities are only exercisable for shares of Geron's common stock and are not debt securities.
The Company has completed the work necessary to modify its inventory reserve policy and has restated its results to reflect this change and to reflect a dividend in June 2004 associated with the amendment of its two February 2000 warrant agreements
However, in accordance with the terms of the warrant agreements
, it is expected that the dividend will result in substantial adjustments to both the number of shares for which the warrants are exercisable as well as the exercise price.