B Warrants are getting exercised in high 20's.
In short, banks are accumulating shares using cashless warrant exerercise at what I consider the stocks floor.
Think of it like this, the banks that fronted the 37 million cash, are able to exercise their B warrants at market price, and exercise their shares by selling a percentage of their warrants instead of paying cash.
Other banks are accumulating the sold warrants.
My guess is banks will accumulate around 50 million shares thorugh warrants, at or around .28 (close to the diluted cash per share).
Really good place to buy in.
Cheers
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