Fully diluted it's still only a 40m and change company with 20m+ in cash.current cap is about 20m a/o today. zero debt and over 20m in Cash.
will be better to Treat them like a regular stock instead of exercising for several reasons:
1. Fees and lock-up period if you exercise.
2. Warrants not “in the money”. if warrants will not get a premium this might continue in the future as well.
3. Warrants can offer significant gains to an investor. If commons are trading $10 (Rodman & Renshaw PT),those Warrants will be trading at least $6.13 (10-3.87 ), 8 times investment return vs 3 times+ investment return if you own common shares.
4.The warrants exercisable at 3.87, Expired almost 5 years out on 11/19/2020 and i find no reason to exercise them the upcoming year due KIT-302 gonna hit the market in 2017 as represented by the company.this also a Potential takeover target by Pfizer or another big Pharma. imo