The logical path is to call the company and participate in a fresh round of warrant funding. In that way you get to avoid expiration, negotiate a strike, and structure the placement. (Assuming they are open to warrants issuance.)
If ROIC could double from $11 today to $22 by 10/13/14, ROICW purchased at $1 today would have intrinsic value of $10 at expiration ($22-$12). Thus, a $1 investment in theory would be worth $10.
Is a target of $22 farfetched? Not really. Tanz previously produced a 26 percent total return for running Pan Pacific between 1999 to 2006.