It all depends on if they put cash advances on the purchases of fuel supplies for Haujie. Perhaps they are putting down smaller quantities of money than they normally would on advances since they are using cash flow to pay for the facility and not use dilution to pay for it.
The warrant holders want the price to get up to over 3 so that they get free money. Who wouldn't want to pay 2.25 to sell their shares for 3.25 etc. etc. Warrants are a sweetner to any deal, and to suggest that they don't want a free lunch is foolish. The warrants are icing on the cake imo If the price doesn't get over 2.25 by mid October, the cry babies will disappear like a fart in the wind and there will be no more overhang. That is a catalyst in itself.