Warrants derive their value from two sources. One is intrinsic value and the other a time value. Intrinsic value is the amount above the strike price. At the moment it is zero. The time value is where the speculation kicks in and that includes the " blue sky " hopes. With the rewards we may visualize it is going to be a wild start when the warrants begin trading.

One thing to remember is that time is a wasting asset, but what the heck. We have almost five years before we worry about that.