RE:RE:RE:RE:RE:WARRANTS 101
Look at it another way. These warrants do not have to be exercised until Sept 2023 so there will be a market for them until that date. In a perfect world they will never be worth less than the current share price less .10 because you can always get 1 share for 1 warrant plus .10 . You are thinking of buying 20,000 warrants for $2200. If you buy $2,200 worth of shares @ .20, you get 11,000 shares.
Now assume the shares go up to .25. Your gain is 11,000 shares X .05 = $550.00. If you had bought the warrants, they are worth no less than .25 -.10 or 15 cents. You bought the warrants for .11, so your gain on 20,000 warrants x .15 = $880.00. If the spread remains the same, they are worth .16 so your gain = $1000.00.