Well the warrant has an exercise price of $4 so WLDS would need to be above that in order for the warrant to have actual value. Don't know whether this is what you are looking for but I use a very very simple 10% of common price for a "fair value" of a warrant.
So in this case the warrant is right around where it should be with the commons at $1.45
JMO - I've only messed with warrants for about 9 years now.