Just to continue the fun with this theory, the only way that NOT would be waiting for the price to come down so as to disinterest the uptake of the warrants, is if they new, dead certain, that they had a barn burner of an announcement to deliver with a definite shot to $10 at least.  The PP was engineered to make sure that they had the cash to continue long term.  I doubt that this effort would have been made lightly and it would not be a casual thing to fly in the face of it.  If this theory holds true though, then we obviously have a longer time to wait for the announcement to preclude warrants being exercised.  I would still wonder at the ethics to say nothing of legalities behind being able to pull this off.