RE:Question They didn't pay a premium for their shares. For $1.30 they received one share pf PYR and a warrent to buy more shares for a fixed period and at a fixed price. yes they will eventualy expire but until they do they will have a value relative to the share price.
The value of the warrent can be seen as the difference between the price of the PP and the current share price.
Goid luck!!