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  "documentTitle": "ADOMANI (ADOM)",
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  "notes": "The slide provides a critical assessment of share structure, focusing on potential selling pressure from warrants and options.",
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      "text": "That's some heavy dilution, and the company will only receive about $2M cash from the warrants.",
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      "text": "The following is the lockup agreement as shown in the Form 1-A/A: Lock-Up Agreement: 365 day lockup for Officers, Directors and Affiliates. 180 day lockup for Investors; followed by 185 day leak out period.",
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      "text": "share dilution: 50M",
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      "text": "It states above that about 21 million shares of common stock will be issuable under the exercising of the options at a price of $0.10 per share. That’s some heavy dilution, and the company will only receive about $2M cash from the warrants. To put that amount of shares into perspective, 21 million is almost 10 times that amount of shares that were issued at the IPO, at an only $0.10 per share conversion price.",
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      "kind": "paragraph",
      "text": "ADOM was founded by individuals with questionable background and is benefiting from being a thinly traded stock in an industry with a lot of hype. But",
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      "text": "Further on the same page it says the company issued a warrant to purchase 350,000 shares at $5 per share to Redwood Group International. These shares become exercisable on December 16, 2017. That’s 180 days after the June 15th IPO date.",
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      "text": "The following are the outstanding options to purchase common stock. On page 17 of the Q217 10-Q it says: \"As of June 30, 2017, we had granted options to purchase 30,375,000 shares of Common Stock. 21,218,612 shares of Common Stock are issuable upon the exercise of options vested as of June 30, 2017, at an exercise price of $0.10 per share\"",
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      "text": "We find from the info in the 10-Q that this date, October 22, will be the first date that a large chunk of ADOM warrants will be able to be exercised. As long as the stock is above $6 per share by then, we can assume that Boustead Securities will exercise their warrants and sell their roughly 200k shares of stock on the open market.",
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      "text": "According to the filing, the post-IPO officers have around 19.5M shares and 16.6M exercisable options. So of the 89.5M fully diluted shares, at least 36.5M are locked up for one year. That leaves 53M shares. Subtract 2.5M that were sold in the IPO, and that leaves about 50M shares that could start hitting the market on December 16th.",
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      "text": "As of June 30, 2017, we had granted options to purchase 30,375,000 shares of Common Stock. 21,218,612 shares of Common Stock are issuable upon the exercise of options vested as of June 30, 2017, at an exercise price of $0.10 per share — ADOMANI Q217 10-Q",
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