Arn't warrants just options with a longer time period?? so it would be the owner of the warrants (NOT PTSC) that was actually converting them as they got closer to the due date (typically 5 years).<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:of... />

as i understand warrants let you buy a certain amount of stock at a certain price ... you can either buy or not (you can even extend thier due date sometimes) ... which means that PTSC DOESN'T buy back the warrants they only issue them ... it is rather the holder(s) of the warrants who are exercising their rights to BUY for the stated amount.

am i totally off? help me if i am.

ALSO ... arnt warrants already figured into the price of the stock!!!! so the conversion does NOT effect pps????

thanks for your time