RE:Management Not AlignedThe ONLY reason to exercise warrants in the near term is if you feel the SP is headed lower in the near thru medium term. Otherwise the term is pretty far off so it would be best to sit on them for free rather than tie up cash. I have long term warrants in Enwave that are in the money. Why not wait a couple years if you think the SP will go up. You lose all of the leverage once you convert to shares.