Guys, no one is going to exercise a warrant when the price is below or anywhere close to 52 cents especially when the god awful financing gives them 5 bloody years to make a decision.

If you buy the warrant at .52 there is only risk. Peoeple only buy the warrants to sell immediately and capture the difference. Meaning if it was at 1$ the SP, people would buy the warrant for .52 and sell for 1.00 thus capturing those gains.

Companies can sometimes convince shaeholders to exercise the warrants at slightly above the strike price (52 cents in this case) but that is usually difficult to do and done to prevent further financing, etc... like we are maybe going to have to address/encounter. That's usually the IBK's and such, not an everyday stock investor that would even consider that.