They can lower the exercise price to make them more attractive. Currently they are priced at $5.75 per 1/2 common share which makes it $11.50 per full share on a converted basis, that's wayyy to high for where commons are trading. BODs do it all the time to generate cash flow and get the warrants off the books.
IMO, and I know nothing, the exercise price should be cut in half, hopefully it is something they are considering. It costs them nothing since a warrant fairly priced will generate cash whereas a bloated one will just sit idle til expiration and the company makes NOTHING unless people convert them into commons. Not a very sound business decision if you ask me......and remember I know nothing.
Now would be the perfect time to reprice since operations have most likely taken a hit from Covid shutdowns.
Just a thought from the cheap seats.
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