RE:RE:Level II QuotesIt was my belief that a warrant does cause dilution in that the warrant becomes a share and part of circulation once the owner of the warrant exercises. The current sp being the differential calculated for profit or loss at that time. The benefit comes from exercising a warrant below current SP and again by selling the share. This is why the sp today is below the warrant price as selling shares to buy warrants can yield more profit without losing a position. Correct me if I'm wrong.