I agree with everything you say.  But it is not about future value...it is all about current capital needs.

Hepalink can't help out RVX on this financing, as Hepalink is an insider...and there must be material information that the insiders have.  Which leaves Don McCaffrey at the mercy of the "non-insiders" to raise capital in a hurry.  Which is where the problem is.  

We obviously disagree with the current market value.  But that is not the issue here.  RVX needs cash badly.  And the warrant owners are going to extract their best deal ever.  RVX should never have given them 1 full month to get their share conversion.  Maybe 1 week or so.