Understand your thinking, Joe, cuz it's very similar to mine, but not quite the same. Unfortunately, I can imagine some form of delay from what we think, without totally sinking the company depending upon what the delay is. It has happened time and again, and I'm really only slightly more sure it won't happen this time, than in any previous iteration.
For example, what if there is another CRL and then Mann decides he's had it and decides to sell the whole company, if the CRL isn't too bad (LOL, like the one's we've gotten so far!), it's not impossible that another company might pay $3-5 or so. I don't want to be looking at expired options in March 2015 if that happens.
The extra year is a bigger than you think benefit. Heck, they could get approval and the stock pop to $12 and then slide to $7 (hard to believe, but it happens) due to no marketing, weak start up or sales, you name it, but, again, a buyout could come at $10 in June 2015 - color me really p.o.ed if I had only Jan 2015 options.
Still, your point about the potential profit on the Jan 15 $5's is a good one, and I'm sure not saying that one should stay away from those. In fact, a few might be a good idea to buy, just in case things go as we hope (yea, right). Nothing wrong with having both! I will wait, though, until those $5 come under a buck, if they don't, I'll stand pat with the warrants.
By the way, I only was able to sell the 1000 warrants yesterday at $1.12, the other 9000 expired. Today, around midday, I put in an order to sell the 9000 for $1.17 - no sale!
The options would surely be more liquid and a lot more transparent.
