I am currently on the phone with the investor relations contact, Matt Clawson of Allen and Caron Inc and when asked, he has identified the CBMX O/S if all of the warrants are exercised would be approx. 3 million shares. Still an unbelievably small share count in consideration.
He also stated that if all of the warrants were exercised then it would erradicate any toxic financing that was hanging over the company and that they should be able to move forward in a more positive direction in the future.