Assumption 
Description 

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End of Day Valuations 
All valuations are assumed to take place at the end of the day. 

Valuation on Maturity Date 
Due to assuming endofday valuations, if Value Date = Maturity Date, then the option has effectively expired. Thus the option is equal to zero. 

Dividend paid on Maturity Date 
Due to assuming endofday valuations, if a discrete dividend is paid on the maturity date, that dividend will be included in the calculations. 

SharesPerWar = 0 
If the number of shares per warrant equals zero then the warrants are going to be worthless. 




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