You are spot on. They wouldn't offer the shares at a premium. That tells you all you need to know about where the PPS will be after the consolidated FINS are released. The .10 and .15 warrants are at a DISCOUNT.
Why wld they announce the warrants now, if they have a R/S planned? Simply announce the warrant price after the R/S and avoid confusing their employees. The warrants are a head's up to the market about where this is going.
This is a no brainer....it's going much, much higher....
News 
Market Data 
Discover 
