Yep, agree with you Jonzo.  No way Hepa would excercise those warrants without considerable increase in share price before expiry even if they want to support RVX.  They would definitely negotiate a better deal at current share price and it is optimistic to think we will be at $3.21 by the end of March (to say the least).  I also own some of those warrants and have no intention of exercising them unless they are in the money. 

RVX, on the other hand, could extend the warrants if they are confident they can get the share price up to that level in a year.  That would be a reasonable way to pay shareholders back for the time they have had use of our money (and produced so little to show for it on the business side).

Jupe