Did a quick read of the filing, isn't the conversion price for the warrant 0.02, thus the subscriber would have to pay 2 cents for each share of common stock purchased via conversion of a warrant?
As an aside, this stock seems to trade in very, very low volume. If it did get squeezed, would there be enough volume to allow one to get out? Not sure that there would be, unless you were selling a few 100K's shares max.