Ok i'm trying real hard to understand some of this language, even looking it up on the net to see what's what

And i keep trying to figure out how some people were allowed to purchse what i seem to understand as a future share or unit (known as a Warrant) for a measly 3.5 cents or doubled if they only got a half??? As long as they purchased part of the offering at what was it .52

Lots to learn here about the language used and terms, if i'm wrong would someone please try and explain this in laymen terms or am i right , then most of us got ROYALLY SCREWED.

When i see people talk about buying these at 3.5 cents instead of market and i'm way down in the red, I see RED.