I'm not sure MAXF might not head back into the 4's soon. I have traded several stocks around warrant expiration date and it never ceases to amaze me how many of them have their warrants languish at very cheap prices then two or three months just before warrant expiration those stocks make a hard price run up then a quick pull back followed by a final advance above the strike price of the warrants.
I don't think it is a coincidence that the same pattern has played out here in MAXF. More often than not I think it is the ones who picked up large numbers of warrants cheap who buy the stock during these run up periods. This gets the attention of momentum players and those warrants are magicaly converted into shares then sold into the momentum resulting from the run up in price salvaging some value from the warrants.
The problem is, I have also noticed many of those stocks drop quickly back after the warrant expiration actually occurs. I'm not sure why this occurs though. I have sold the shares I was holding lately just in case. I plan now to wait for two or three weeks to see what happens here after warrant expiration. If I am wrong and MAXF continues on up after expiration, I may buy back in and just miss a little of the extra profit. If on the other hand it drops back like I have seen in other stocks, I'll get to buy those shares back considerably lower than where they stand now. It just looks too convienient to me that MAXF's price rise stopped just above the excerise price just before warrant expiration.