The "cap" around this price as I put it is based on the law of diminished returns. There is no point for warrant holders to seek to exercise warrant B at such a low price as to acquire 5 billion or 10 billion shares. The company will only have to r split so excessively as to be penalized and the ultimate value of shares held by those who exercised warrant Bs no different than at a higher pps. 10B shares at $0.003 = 1B shares at $0.03. The only diff between the two is the penalty for such an excessive r split as to push AEZS off the nas. They don't actually want that. They want to hold a lot of shares here for future value. And they are pushing up the market cap with every disproportionate multiple of warrant B to shares exercised. It simply becomes superfluous.
It's a curve, not a straight line. The volume relative to the price is also a problem, hindering shorting concurrent with dilution to profit both ways.
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