I think the bigger news is that downward pressure due to expiring in the money warrants is a thing of the past.
Other things equal the stick should rise ex any such pressure.
I am not really too concerned about an after the fact look back. I would rather focus on looking forward.
Mgt was a little over the top in saying the wArrant exercise was a vote of confidence. More like a vote of "sure. I will exercise at .13 and be able to sell at .19 all day every day. ".
Exercising in the money warrants is not a vote of confidence, it is easy money (and, with those expiring, a use it or lose it proposition).