Hey, Derek, the way I look at it, it's not that people think that the warrant holders will sell the stock they receive as a result of exercising the warrants, it is will they sell some other POET stock they likely own now in order to get the money to exercise the warrants. That is a very common occurence with warrants of all companies, not just POET.

I can almost guarantee you that every .75 warrant will be exercised if come expiration day the stock is at least .77; it's possible some won't bother if the price is .76. But they have to be in a position to come across with the cash to exercise. Many may already have the cash cuz they otherwise have cash or cuz they have already sold some POET shares to raise it, or they may have sold any position in their portfolio to ready the cash for exercise.