The warrants situation is interesting, as at the end of next April, the warrants expire worthless. The problem is that the exercise price is near or above $2:
As at September, 2012, the outstanding number of warrants exercisable into one common share is as follows:
Date of issuance Number of warrants Exercise price Recorded fair value Expiry date
April 28, 2011 7,567,568 $2.25 $ 5,136,989 April 28, 2013
April 28, 2011 908,108 $1.85 $945,340 April 28, 2013
Anybody see a chance of the share price, currently around 50 pennies, getting up to the $2 level within 5 months?