RE:RE:RE:You believe in this company, or not.Original PPlacees out at the warrant price...then short...and exercise warrants to cover ....only if they need to.
They can keep playing that game until the expiry date of the warrants.
And they don't necessarily ultimately convert to shares...only when forced...if it is written into the terms (i.e. - if the market trades at a certain level above the exercise price..for a certain amount of days)
So cash cominginto the company off of warrant exercise is always uncertain until you're at expiration date.
The one caveat is the 'broker' warrant portion of the placement.
It is good politics to exercise in the money warrants if you want to be the lead in their next financing.