The logic I attribute to buying below the strike price of $1.00 would be numbers of shares available. If enough evidence has presented itself to suggest that $1.00+ is inevitable and in short order, then to pay a premium above current market value makes sense when a large number of shares are factored in. Imagine being the holder of 3 million warrants. At current liquidity it would be difficult to accumulate that many without driving the share price beyond that threshold. So given the right timing and volumes in question it does make sense to exercise warrants above market value. Plus one only has so much money available. One has to decide whether buying a few below the price is worth it when one having the lot at a higher price is an option. IMHO of course. I wish I had that problem.....Regards. Derek