Maximum notional uplift in share price, page-8

As I understand it, if price is unchanged, they get nix. If price increase is 100% they get 15% of half a share. If price goes to say $1m/share they get 15% of nearly a whole share (quoted maximum dilution). I think the breakeven point is about +50%, but to arrive at that figure I had to make some wild assumptions as there's no hard information. If the shares do take off in the next ?18 months as they should then the warrant holders will do very nicely thank you. That suggests to me that the ones taking warrants are expecting a further significant price rise. NB. You can't infer the opposite from the cash takers.