I own those warrants and I have no desire to exercise them now....the power of warrants is exposure without investment.  Why would I waste that on a 2 cent gain?  and yes the numbers work out where if you had 200,000 shares you could've sold them today, but let's be honest putting that many shares on the ask would create downward pressure

My hope is that by the time they expire in the summer we will be bought out or significantly higher.  If nothing changes then I hope they get extended again.  And I think that's the right thing to do anyway, as PP participants are given them as a bonus for funding the company when it needs it.  The company has not accomplish its goal yet with that money used, so extending them to reward those shareholders it's a good thing in my opinion.