An opinion or point of view cannot be correct or incorrect in the strictest sense. 

When the incentive was announced on November 25th and afterwards I tended to cautiously side with those who suggested that just because the PPS had dropped below the $1.33 conversion price...that conversion still seemed likely based on the opinion that buying a sizeable quantity of shares would drive the PPS up hard and fast.

I recall other examples where the company announced intitatives or things that were going to happen, and then never did, so announcing the incentive program without assurance of participation by affected warrant holders...I would not be surprised at all if my opinion is correct in that regard.