I believe Linda's were for payment for the purchase of Cognate by management. The newly extended warrants were not the warrants for the 5.4 million loan.
Iwasadiver, I extend your idea a bit. Consider the outcomes. If an expiring warrant/option holder did nothing, the out of the money instruments expire worthless and are not available to back up corresponding short sales. If instead one agreed to extend the expiration with the constraint that redemption is not allowed until November, the backing up of short positions is not available until then. If the share price were to rise significantly before November shorts would be squeezed if they truly exist. In that scenario holders would be rewarded regardless in November and beyond.