RTV, I'll go out on a limb and agree with your line of thinking re the warrants.  The company is still expecting to deliver news before the 22nd, but it will be extremely tight.  IMO, the only way today's explanation makes any sense at all is that the company is still expecting to deliver news before the 22nd, but have legitimate concerns on ability to complete the transactions.  In this scenario, the reason is processing related and not share price related.