Just trying to catch up but there is another way to look at this Milsy1.

First lets remember NOT now has lots of money in the war chest with out the warrants being executed. So if you are a warrant holder even if the price were to drop to $5.05 you would have to ask yourself do I dare pass up this opportunity to buy these 3,250,00 shares. If I attempt to buy them on the open market I may drive up the price.

If the warrants were not to be executed NOT has lots of money from now. With increased drilling and a few more months the equivalent of 3,250,00 share could be issues at &10, $20 bringing in way more money for the same dilution. So IMHO I just don't think it matters if the warrants are executed or not. What is important is not having them hanging over our head and thus allowing the power houses a tool to play this stock.