Yeah that was a little tricky to explain. The warrant prices they are exercised in I didn't bother explaining since it's fairly obvious I thought.

I think you're referring to the 1.50-1.80 part of my explanation? What I'm saying is that even if 1 million warrants are exercised at say .75 and we see that much money in the bank (shares exercised x $0.75 = 750k in the bank), but the effect on the SP is that 1 million are likely (they could hold but I doubt it) being sold into the market at around the current SP price range (for a current example).

Therefore it would require buyers at the current SP level to offset any potential downward pressure. So 1.5-1.8 million $'s worth of buyers to offset the warrants being sold.

I think we're talking about the same thing to be honest and I think it's fairly clear. Reading the above I hope I don't confuse people.