One thing to consider about warrant holders is that they must come up with the cash to exercise their warrants. In some cases this could be tens of thousands of dollars.There is really NO REASON to exercise warrants that are not due to expire soon UNLESS the person plans on selling the shares. I have no more warrants left because CYDY made an offer last June to exercise at only 40 cents with a half share bonus. Unless I still had warrants NOT close to expiring...I would not exercise. However it is a good way to give CYDY some funding that is desperately needed! I have over 500k shares and not selling any of them!