 What's going on guys and gals it's a Chicago trader here with episode three of the fundamental series I hope you guys are staying safe with the crazy market that we're in right now If you haven't had a chance to watch the first two videos they're posted on the website and they kind of build off of each other So if you haven't watched them go watch them. This one's going to be a little bit shorter It's on something a little bit more niche and I'm actually on vacation right now. So Let's get into it. There should be a PDF With the rights offering and registration restrictions So if we can scroll down to the first one, so What is the rights offering? essentially with the rights Existing shareholders you have the right to buy a specified number of new securities from the issuer Set a specified price and There's a certain period of time that you have that you have to participate in it or not So you can see each unit consists of one share of series five convertible preferred stock and you get 200 warrants So that's with a single unit. So how much is a unit? It's a thousand bucks. There's 10,000 total So that's $10 million they raised through this rights offering So preferred stock had a conversion price of $5 So what happens is you know these and convertibles and you know some of the other ways that they raised money They can make amendments to and modify some of the You know details of it. So if we come to the next one, which is filed on the 8th of January It's the same rights offering to just modify it. So notice right here. There's now 300 warrants You know, it's still raising the same amount of money So they close it at 970 the first day after it ran you can see that has this you know It says the float here is 2.5 million roughly, you know These will be a little bit off as you know that the flow can slowly and gradually increase after you know filing. So, I mean, it's pretty simple What was it close at 970 you know times 2 point let's just say six for simplicity divided by three so you get you know about eight eight and a half million dollars right around there