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I'm with Coco, which is I'm selling when Big Al sells. I believe he will make the best deal for all shareholders. Every other sell plan is just a crap shoot. Don't want to make the same mistake as Ottawa. Big Al knows what he is doing he's a pro. That's why he invested $1bil of his own money to make it happen. Get on the Big Al Train. We'll all party at the end of the line.

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Per Matt, I think that Deerfield has already converted.  I thought I saw something to that effect in the most recent 10Q.

I own both warrants and shares. When the spread is very narrow at it is now, warrants are the best play. As an example, if you want to control by purchase 6000 shares of stock at today's closing, it will cost you 6000 x 8.17= $49,020. If you want to use warrants to control the same 6000 shares and it will cost you $35,100 (10,000 x 3.51). You will have to come up with an additional $14,400 in Jan 2016 if you want to own the shares or you can just sell the warrant. Yes, the market is not as liquid, but that may change as we get closer to warrants expiration date. Effectively you are deferring $14,400 of the purchase at a cost of $480. The price of the warrant should pretty much follow the price of the stock at a ratio of .6 to 1.00. That is for every dollar the stock goes up, the warrant will go up .60, because each warrant entitles the holder to purchase .6 of a share.

The January 16 2.50 call is also a reasonable way to control the shares. To control 6000 shares through the Jan. 2016 calls, it will cost you $33,900 (based on today's close of $5.65 ), plus an additional cost of $15,000 (6000 sh x 2.50) at the time of exercise.

Thus the totals look like this for an purchase of 6000 sh.

Outright purchase $49,020
Warrants - $35,100 now + 14,400 in Jan. 2016 - $49,500
Call options - $33,900 now + $15,000 in Jan. 2016 - $48,900.

In conclusion It seems that Jan. 2016 $2.50 call options is the lest expensive way to control the shares today. The results could change based on bid / ask pricing. I view the risk for all three of these methods to be equivalent ( except for market liquidity. )

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I think we ought to ask the 3 nursies to plan the celebration party when we finally get FDA approval.  A hot tub party sounds pretty interesting to me!    Maybe we can do it in Vegas, where Al lives.  I'm sure Big Al would love to attend.

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Re#3

As to a the insulin, it was kinda weird. They've been saying along that they had all this insulin in safekeeping and someone raised the question about the insulin in the q&a.  Specifically the question had to do with whether this insulin, which has been expensed for financial statement purposes should be reclassified as an asset if FDA approval was obtained.  Matt said no, and Al broke in and said something about 10,000,000 doses for a year, and then they backtracked and started saying they probably couldn't use it all and that the FDA might have something to say.

So after the meeting I spoke to Matt and asked him what the replacement cost was of the insulin.  He said something like 300 - 400 hundred million dollars.  I was stunned that we had such a large "hidden" asset.   And then he brought up something about a new insulin and the left to go off to a Board meeting.  So that's the color.  

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No discussion of projected revenue and expense.  Kind of meaningless until approval and partnership announced.

There was some discussion after the meeting with Hakan about the foreign buyer (which is still out there).  Basically again until approval by the FDA and partnership announcements there really wasnt anything he could discuss.