RE: Warrants vs. Stock At these prices, its quite likely that the common may offer a little better value, as there is a time constraint in the warrants, they do in fact expire, unless exercised.. The 35 cent warrants are nine cents out of the money, but Ill leave it up to you to figure out your risk tolerance, its just my opinion... I m going to assume we will not do a financing less than 35 cents, nor do a property transaction (to buy) for less than 40 cents on the share side... Have a nice day.