"... Then, push the share price down another nickel, therby pushing the warrant price down to say $0.10 or so, scoop up a whole bunch at this price, then unleash the share price so that they get an easy 10-bagger on the warrants?"

I think it would be tough to push down the price of the warrants... And I think it would be tough to "scoop up a whole bunch". I don't think there will be many sellers, not initially, anyway. With that generous five year expiry date, and an easily achievable exercise price of $0.95, most warrant holders will be hanging on to them, looking to make a bundle themselves, instead of giving somebody else the chance of getting that "easy 10-bagger".