RE:Are warrants fairly priced? As I have said before, the action is on the warrants. it does look like the participants in pp have sold majority of their shares and are tightly holding their warrants, hence the upward trajectory for the warrants pries.
0.23 looks okish, which basically assumes ~$1.5 stock price in less than 18 months to break even, and about $1.75 to double. $1.75 is almost double the current share price as well.
If you believe stock will be solidly above $2 in 18 months, the warrants are still cheap. That's my opinion as well btw.