Warrants (4pm 6 Jun 2012) were trading at 0.39/.6 or $0.65 to buy a share at 2.40 in 2016
Options 2.50 calls for Jan 2013 exp were 0.20.
Options 2.50 calls for Jan 2014 exp were 0.49.
Question arises is 2 additional years of time decay worth $0.15 per share?
Answer: Unless my math is off, it looks like a fair bet.
OOG