RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:PapaSchmuckWarrants are usually given by a company as an incentive to get people to invest into their company. They have a strike price, an expiry date, and come with certain conditions that can change certain terms.
For Cielo it's a catch-22 with the warrants they've issued. If the warrants get excercised (don't expire) it's cash they get from the warrant holders they can use towards building their plants, doing more research, paying their employees, etc but in getting excercised the total share count goes up which results in dilution. That's why you see a 600 million shares for Cielo when fully diluted. 600 million shares has a negative impact on EPS (Earnings per share), P/E ratios, and various other metrics investors use to gauge a company so could hurt the long term outlook.
If the warrants expire, the company doesn't get any money but no new shares get added to the float. The future looks bright for Cielo, so less shares should equal higher share prices in the long term.
Personally cash is better than debt when you are just starting out like Cielo is as the smaller businesses don't have the clout to negoiate the best (or even good) financing terms with lenders, but I suspect down the road a reverse split will have to be done to help boost their numbers/ boost their image