In the meanwhile, GEMINI hath declared that they are no longer in the elite amongst shareholders. They now own less than 10 percent of the outstanding shares.
I rather doubt that the SEC really cared one way or another. CDEX is flying under the SEC radar. But just in case JB and them does score a bit of money at that great meeting in the Money Center of the world, and a largish PUMP occurs, GEMINI wants to be able to provide shares to feed into it without having to file a bunch of un-necessary paperwork to the SEC, and calling unwanted attention to themselves.
And Just in case the SP happens to climb above 30 cents, they can provide more shares to add into it by converting their 30 cent warrants.