"At the SHM I recall Pohl commenting that there were about 132 million warrents issued before his coming on board, and they had been reduced to 32 million..."

The company has no long-term debt. In another favorable development, approximately 34,700,000 warrants have been exercised to acquire shares of the company's common stock in the period from June 1, 2006, through March 12, 2007, leaving a balance of approximately 18,000,000 unexercised warrants outstanding at April 20, 2007.
http://www.ptsc.com/news/press_releases/20070424.asp