I'm seriously starting to think that maybe there was participation in the incentive program....its the only conclusion that logically answers the question how they're continuing to finance operations in my opinion.  

Could it be that Resverogix could fill the coffers with a few million from the warrant incentive and determine that doing such would not require disclosure to the market?  They did announce the incentive program after all....perhaps they did raise some decent cash but considered the news of the program was sufficent disclosure.