win win warrant

Here is the play:

buy GNSIML Warrant. The warrant has an exercise price of $3.25 and expires on the 30th of March 06. Almost certainly it will expire worthless.
However GNSIML will pay a fully franked dividend and goes ex div on the 20/03/06.
The warrant currently sells at 7.2 cents. This is less than the Div + Franking credit, plus the capital loss is deductable.
Work it out yourself, this is not a ramp.