Tada, we may have to demote you from president to junior analyst for taking so long to realize this :)

It was the first thing I did on Friday; my only future decision is whether I sell some shares to end up post warrant purchase/sale of shares in a better cash position with more upside or just keep the warrants for a even more upside on top of the shares with positive topline results. 

By my calculations based on Fridays mid 80's warrant price during miday, the leverage was 2.6 times at $10 and 3.2 times at $20. Of course if things go well, the warrant premium could rise or if people want to sell to avoid having to pony up for the $4.60 for the warrants, there may be a discount, which is the most likely scenario.

The swapping of shares for warrants was why last week I commented that it would be hard for the sp to gain traction, as the PP caused to much liquidity short term with to many competing objectives amongst shareholders, from play only warrants, to play shares and warrants, to increase leverage through warrants, to shorting.

But either way, I agree, the warrants are a great way to leverage and or maintain/increase your sp while taking some cash off the table. On the downside, the warrants are typically thinly traded and harder to sell if you dont want the hassle of converting and if you had warrants back in 2010, they expired worthless while if you kept your devalued RVX shares, they recovered from less than a dollar to todays price. So shares are a better trading vehicle although they provide less leverage. 

My two cents.