golfyeti - If you read my post completely, you obviously don't agree with what I said which is your prerogative. I still contend that if you extend a year and the price rises the amount you said, you still won't get much exercising until maybe just before the next expiry. It is expiry that forces their decision. An extension just makes them comfortable holding the warrants until the new expiry date while waiting for more progress and a better deal. Any retailers that exercise at that time will be wanting to just dump the shares they receive into the market for a quick gain which will add downward pressure on the price. The ones we want to exercise that will hold their new shares won't exercise anyway until there is a bigger event than that.