What time period wud be acceptable to exchanges....between warrant exercise & a co. buy-out, if scrutinized at all?

It all depends, no set rule. The executive insiders have been blacked out for minimum 10 months now based on the expiry date of the Feb 2012 options.

Now the reason given here was based on Feasibility info. Once the Feasibility is out they won't be able to give that same excuse and will have to buy the options or let them expire. If they don't and the options are still ''frozen in time'' we'll know something else is up.