If Poet could persuade the holders of only maybe a third of the .52 warrants, they may have just about enough money to see them through to the closing of the DL purchase, assuming it occurred and occurred on time.  That may require the share price to get a bit above .52, but if those holders could be convinced that exercising and then holding the stock would actually be a good idea...  

What if Poet offered a warrant good for a couple of years to purchase a half share (or a whole share if necessary) at an exercise price of about a $1.20 per full share along with each .52 warrant that was exercised now as a little added incentive.