Turr, during a buyout the warrants and options are generally in the money and all options generally vest immediately in this scenario. Therefore you must consider the full 193-194 million when calculating a buyout price.
But please people, focus on the technology and what the company is/isn't doing and not outrageous buyout prices that takes away from the credibility here on this board. Those numbers are about a 16,000% gain from current prices. That kind of talk is what attracts the wolves here, and raccoons....:)