Notice how quiet warrant holders are on this board. Grumpy I guess they have not been able to sell any regular shares at a decent profit above trigger level to pay for them.  Too cheap to pay for them outright or tapped out i suppose.  So much for accredited status. Why not take advantage of 5$ warrants folks and borrow to pay for them. After all no way you could accumulate at the 5$ level without driving price up. 

Maybe Tom has it all figured out after seeing last warrant conversion were we got sold down by the warrant holders and longs who flip for beer money after the amazing Adva news.  Still, have to imagine Poet at this juncture, pre revenue tyically as we have seen opens their arms to already priced in non dilutive warrants, so guess we will have to see how this shakes out. Maybe not a big deal as 2nd tranche was not as big as 1st one and subsequent ones coming are much smaller