You are correct if those are warrants, and if the warrant holder decides to sell existing shares to finance the purchase of warrants, then the shares coming for sale will have a much greater value than the warrant shares to be bought therefore at this point today you willonly see about 25% of those shares come up for sale. eg. If the warrants cost 0.45 and current price is 2.41. However some shareholders may decide to purchase shares with cash in which case no shares will come up for sale at all.