There are tens of millions of warrants out there that expire in the next 12 months. My warrant holdings are currently worthless (.75 strike), and they outnumber my share holdings by 4.5 to 1. Watching the price go from $10 to 30 cents was absolutely gut wrenching for all of us, and I think those scars would outweigh "potential". If you offer me- or most Paulson investors- $10 bucks before the warrants expire, there would be zero hesitation. Bird in hand at 14x the current price? I have a hard time believing the board members with millions of shares wouldn't jump over that as well.