Fibrocell Science Inc (FCSC)

[exwannabe]

what is the difference between shorting a stock at lets say .85 with the objective of using the converted warrant to cover versus selling the stock at .85 and pocket the gain immediately???

Because prior to the 24th they could not sell the stock, including the stock received via warrants. Obviously selling short is the same (minus carry).

Also, FCSC close below $1 for the first time in two months on the 24th before going down further the following days. You're wrong twice.

After the shares were registered, they could convert the preferreds and sell the common.

Why on Earth would somebody exercise and sell the warrants while holding the common long? It would always be better to sell the common first.