"Think about this. These warrant holders are giving up their leverage to financing the company at this time rather than waiting. Not something that someone would do without serious confidence in what is coming."

FJ, I agree 95% with your analysis of the warrant situation.  My only reservation (5%) has to do with those warrant holders being promised another crack at a new offering.  Sorry, but I'm programmed to think that way!  It's a burden I bear, but am willing to share!  LOL