With the warrant exercise price at .52 my guess is that this has established a floor in the share price of where it is trading now. And I think there will be some that want a higher price. Also it can take up to a week for the share count to increase from the moment the warrants are exercises. In other words that increase in share count could be from warrants that were paid for Monday or even Friday.

So the point that we should derive from this is that warrant holders have been provided enough insight/encouragement to begin exercising at the current price rather than waiting. And that to me points to the expectation of higher value coming. So this is in my opinion very temporary and once the clouds have cleared the sun will be shining again. I think there are buyers lined up for the shares that become available for those that have to sell some shares to finance the warrants being exercised. 

We have had lots of long term pain. This is short term pain if it can be called that considering the share price of just a month ago.

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.