You can sell or convert the warrants at any time. Sept. 13, 2014 is when they EXPIRE. The combined warrant price and exercise price is only 3 cents above the stock price today. It's the cheapest "in-the-money" long call option you will ever find.
I think your math is a little out. It's the cost of the warrant ($1.22) plus $2.59 exercise price. They expire 9/13/2014, maybe that's a good punt?
can you provide the details on the "warrants", besides the expiration date ?TIA