ats warrants louise think possible begin selling ats warrants time per ats warrant certificate ats common shares issuable exercise warrants may sold transferred otherwise traded march 20 2002 warrants also non transferable except affiliate addition ats warrants valued daily using black scholes model spreadsheet result evaluation attached current value warrants 762 600 usd using evaluation model however current ats stock price canadian venture exchange 0 97 c warrant exercise price 0 85 c first 2 000 000 share tranche second 1 000 000 share tranche exercise price 1 10 c thus current value considerably less black scholes evaluation model calculating questions please give call extension 33541 kevin miller