ron,

Sorry, was away at a client. Conversion of warrants to shares shouldn't affect share price at all at conversion time as the shares are being issued directly from Patriot. If/when the converted shares are sold they will affect things the same as any other shares for sale. Of course, let's say S&L decided to convert warrants into 5 million shares all at once. The knowledge of such a transaction I would think could cause some downward pressure in price if it was known that the converter of those shares was going to sell in the short term.

Make sense?

Hope you and yours are well, also.