ITTR, from our personal financial interactions with the company, there has never been any real or implied arrangement concerning the conversion of warrants. More realistically, the conversation runs like "doing this now would greatly help the company and better position "us" to manage future financial needs". Depending on how you were to interpret the word "us", I suppose you could read into that whatever you like.... but, as CM says, there is/was no side deal presented to retail during previous financings....