With respect, sunrize, you haven't thought this through.

A warrant is an entitlement to buy a stock at a given price in a given period of time.

For someone to exercise GWG warrants assumes a number of things:
1) They must have GWG warrants.

2) They must want GWG shares.

3) They have the money to exercise the warrants (e.g., to buy those shares at that price)

4) They must believe that by buying those shares at that price at that time, that they will make money.

So let's say someone's got... Call it a million warrants of GWG at $.45, they want GWG shares, and they have the $450k to exercise those warrants. If that was you, right now... Would you wait for the price to climb about $.45 and then exercise your warrants? Or would you simply take your $450k, put it on the open market over a couple of days trading and scoop up half again as many shares at a price under 30 cents? That is to say; why wait to buy for more money in a week when you can buy for less money right now? And buy shares whose very existence won't dilute your existing holdings by virtue of their creation to fill your warrants?

The warrants will not be exercised. Not a chance. Anyone dumb enough to do that isn't going to have the kind of money to have GWG warrants in the first place. Warrants make you money on a stock that has risen in price from when they were issued; not one that has plummeted well below the 'in the money' price of those warrants and scrabbles close to their value the week before expiry.

Let's be realistic here.