Yes, the buy price is $3.44/share but I don't see myself converting to shares or just selling the warrants until after the stock price has gone way up. Of course any dividend payouts may entice me to sell earlier and convert, but if my understanding is correct, the higher the stock price goes up the more shares I can buy. Ex. say I sold 1000 VERB when it was at 1.06 and bought 3500 VERBW at .30 with the proceeds. If VERB goes to 10 the 1000 shares would have been worth 10k. The 3500 VERBW would be worth at least 23k. =(3500*10)-(3500*3.44). If VERB goes to 50, the 1000 shares will be worth 50k and the 3500 VERBW will be worth at least 163k. =(3500*50)-(3500*3.44). If I converted to shares at the price of 10 I could buy 2300 shares after selling the warrants. If I wait until the price goes to 50 I could buy 16k shares after selling the warrants. Of course if I never converted to warrants I'd still hold 1k. All activity is in an IRA, so I have no tax considerations.