"As of December 31, 2012 and 2011, common shares issuable upon conversion of Series A Convertible Preferred Stock, the exercise of outstanding options and warrants (excluding the warrants issued in connection with the July 3, 2013 private placement offering), and the vesting of restricted stock units amounted to an aggregate of 27,685,837 and 27,296,955 shares, respectively. These share amounts have been excluded from the calculation of net loss per share as the impact would be anti-dilutive. "
The take aways I have is that QVC has reduced their warrant position by about 6 million shares each on the series A and series B warrants....
I have to believe the reference regarding " the exercise of outstanding options and warrants (excluding the warrants issued in connection with the July 3, 2013 private placement offering)' is a typo I thought that july 2013 is in the future
As per my notes, there were 32 million series A warrants and 35.5 million shares of the series B warrants from the 7/2/12 private placement.
I think the statement you quoted from the 10Q pretty clearly excludes those warrants from the 7/2/2012 private placement warrants and probably the 27.7 million options and warrants and the 27.3 million restricted stock units were from deals before 12/31/2011 since the amounts were the same for both 12/31/12 and 12/31/2011.
I read that statement in the 10Q about them being "anti-dilutive" and did not know what they were precisely talking about and have not thought about it further.
But why do you think any warrants from the 7/2/12 private placement have been exercised?
I will take a deeper look... I don't put any definate meeting when the dates that they exclude won't occur for 5 months... My thinking was that they didn't have two other warrant positions sizable enough to account for the 27.7 /27.3 million they refer to... I also think QVC has been the catalyst for the higher volume trading and the channeled prices we have seen the last few months... I have been trading the range very sucessfully on that theory (I'll be just as happy with the results if my reasoning is wrong)