Warrants versus SharesI agree that both are toast if the results are bad, but at this point, I'm optimistic as well. The challenge for me in this type of situation is how to best manage and reduce my risk capital exposure while having access to the entire upside potential. That is why I like warrants and these have 2 full years to go so I would expect that the movement will take place within that period. If both go to zero, a 100% loss, the total capital invested in the warrants is only a fraction of what it would cost to hold that same position in the shares. AND.. if I really want to hold the shares, I just have to convert my warrants, when the coast is clear, after the positive results are out. Capital risk management is what keeps you in the game over the long haul.