Hi Joe,

Welcome to the board. I very much appreciate your professional perspective. Until 2 days ago, I owned the warrants - bought at .44, sold at 1.00 - so not too shabby. At the time I bought them, the time frame for events was far more nebulous, so I wanted as much time as I could get. Now that things are starting to gel, my 2014 calls covering the run-up period and my 2015's as a back-up in case there are delays make far more sense. Agree with you - no need to pay the extra premium on the 2016 warrants at this time.

liane