Josephine.

There are 6,370,446 warrants expiring on july 25th. at .60..There are 777,058 warrants also expiring july 25th. at .65... There are 10,582,750 warrants expiring feb. 27, 2010 at $1.50 and 1,369,760 warrants also expiring feb. 27, 2010 at $1.25......

So, my thoughts are that anyone selling in the .53-.58 range to exercise warrants would only do so to add to cash reserves they already have. Since there are no flow through warrants etc. to be gained by exercising the warrants, it doesn't make sense to sell a share under .60 or .65 to exercise another share at .60 or .65. You lose money...agree?

If all warrants are exercised, evolving adds about $4 million to the till. On the one hand I like evg getting more money for drilling. On the other I don't like seeing more dilution. But it doesn't matter to me except for the fact that these warrants may keep a cap on the price of a share. Hopefully news blows the roof off the mofo and the share price shoots up regardless of the warrant pressure.....I'm guessing that next years warrants will easily be exercised adding about $18 million to the bank...wow....