Just my thought, we're still a ways off from full approval when some of the warrant holders would seriously consider converting. As I've seen from other bio's, when a major accomplishment is finally fulfilled. That's when they would want to exercise their "payment" for services, and at that time, imo, would be well deserved. Not to mention, with so much going on with different events, insiders and some of the warrant holders still very much involved ethically finding it difficult to buy more basing their potential purchase against possibly trading on insider information. Not sure if I’m making myself clear on the matter but hope my message is getting across.
My own opinion of course.
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