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It sounds like you are describing the warrants issued as part of a recent $1.7 million financing. But as far as I know, those warrants are not trading publicly.
What is being traded publicly (last traded at 6 cents as you wrote) is symbol IW.WT.A. If those are the warrants you are referring to, they have an expiry date in Nov 2004 (not 2005) and are exercisable at a strike price of $0.90, so they are not in the money, in fact they are (obviously) deep deep OUT of the money.
Oh man, Stockpro..yes, I really messed up. I totally confused the "old" warrants (IW.WT.A)with the "new" ones that are not yet trading. I don't just have egg on my face...I have the whole omelet plastered there!!! 30 seconds of dd would have saved me this embarrassment.
I will see if I can get SI to remove my post #1684 because it's just pain WRONG.