RE:RE:WarrantsI don’t disagree with your points. I bought the warrants because I believe the share price will eventually trade into double digits within the lifespan of the warrants and I wanted maximum upside exposure to get the most bang fir my buck.
You are quite correct that at $5 the warrants would trade at about $4.65 which would be their intrinsic value equal to the share price - the strike price of 0.35
Currently the warrants have no intrinsic value and the 0.16 represents time value of the warrants.
I fully expect the shares to start outperforming the warrants as the share price gets to and exceeds the 0.35 strike price. Currently the warrants trade at an 0.08 discount to the shares and that at some higher price the discount will max out at 0.35; typically with options the time value starts to fall when the share price starts to rise above the strike price. So any further narrowing of the discount would allow for an attractive conversion back into shares to catch their eventual outperformance