Balmoral has about 12 million outstanding warrants exercisable at 94 cents and expiring today (Nov. 9, 2012). As the share price traded well above the
.94 level (hitting $1.10) and traded around the $1.00 range for the month of September with good volume, most of those warrants should be exercised by now. Once the warrant overhang is out, this should bode very well for the stock and should go a lot higher.