Aug. 8 at 5:14 PM
$CHR This is a well-worn playbook in this market. In December 2024, CYN raised
$20 million through an offering at
$1.61 per share, including a Series A warrant at
$2.012 and a Series B warrant. On the surface, it seemed safe. But buried in the filing was a clause allowing the Series B warrants to be “pre-priced” and issued in multiples of the Series A, based on the 5-day weighted average price.
It’s the same setup right now with CHR. Warrant holders of CYN shorted the stock from
$1.60 (
$240 per split) down to below
$0.03, then converted their warrants at
$0.035 per share — ending up with hundreds of millions of shares from that original private placement. The company then executed a 1-for-150 reverse split, wiping out original shareholders..
This is easy to verify, and it’s a blatant scam — with the company complicit. There’s no legitimate reason to structure a private placement this way unless you intend to run the exact same scheme.
