To my knowledge, the warrants, any and all of them, could be exercised at any time after their issue, whether in the money or not (although highly unlikely anyone would exercise them out of the money).

It's not that many shares, really...certainly not a controlling interest. Depending on who gets the shares/warrants, and how many they acquired on the open market yesterday (which was the day to buy), the acquirer may bump up against 10% and therefore have to report, but I doubt it....I suspect they will stay below the 10% threshold.

This stock, once it gets moving, will need at least half a billion shares to accommodate interested parties, and that amount likely will not be enough either....this offering doesn't even get us close to 500M shares outstanding (although closer than we were a couple of weeks ago).

In short, no one is getting control of the company with this offering, and yes, my guess is this is all part of the plan.