by current SGR holders(assuming that they need to sell shares to exercise the warrants) we need a SP north of $2.66 for them to at least break even.

$2.66 pay capital gains tax on 1/2. So at the highend bracket you pay about 50% on the remaining 1/2 or about $0.66 which leaves you with $2.00 to buy your warrant. Not lots of upside to exercising them.

If you have money set aside to exercise them at $2.00 why not just buy them today at $1.60?

Unless we get a miracle come across we can kiss the money from the warrants good-bye.

Correct me if I'm wrong.

Oh, please let me be wrong.