Thank you, Xgin, I much appreciate the assistance. The DFKG article was an attempt to explain it, too. This line surprised me, again showing me I don't understand the details. I assumed getting a warrant meant you could trade it for a share at the $11.50 price. Apparently, that's not right. The article about DFKG said this: "<i>If you want to remain in the stock, you can always sell your warrants and turn around and buy the common stock. I’m sure there are tax implications involved ... so you’re own your own there.</i>" <br /> <br /> I take from this that you take the profit from the warrant, in this case $11.50 - $2.60 = $8.90, and then buy shares on the market. But whatever you end up buying, they're essentially free, minus taxes, of course. Is that right? <br /> <br /> One thing is clear, I need to spend more time learning about this. Until then, I should probably stick with common shares, even though I'll end up with fewer of them due to the higher cost. <br /> Thanks again.