Mr. Shark, Remember, the warrants are like an option. A warrant is a security that entitles the holder to buy the underlying stock of the issuing company at a fixed price called exercise price until the expiry date. Warrants and options are similar in that the two contractual financial instruments allow the holder special rights to buy securities. In this case the $2.00, 5 yrs. (private) and $3.50, 5 yrs. (publicly traded/private). They would get converted at the exercise price and thus the company is able to raise capital.
I brought this possibility up months ago, of course i was personally attacked by a troll you still converse with. Anyway, my friend, there is more than one way to skin at cat:}
Cheers