"We are extremely pleased with the results of the exchange, which has improved the company's capital structure, removed most of these complex and dilutive warrants, and reduced the number of fully diluted Aastrom shares by more than six percent. We are now in a much better position to continue to attract high-quality, long-term investors to Aastrom who will no longer have to be concerned about the potential future impact of these warrants," said Tim Mayleben, Aastrom's president and chief executive officer.
The warrant count is not zero. From the press release: "There now remain 308,100 December 2010 warrants outstanding with an exercise price of $3.22 and an expiration date of December 15, 2015."
I don't know anything about WBB Securities, but they like ASTM.
02011.02.09... initiated coverage: Sell
02011.12.06... upgraded rating to: Hold
02012.04.16... upgraded rating to: Speculative Buy
02012.06.04... upgraded rating to: Buy
02012.07.24... upgraded rating to: Strong Buy
ASTM closed yesterday (02012.07.30) at $1.96. 52-week range: $1.75 - $2.91.