OK, so here's my take on this whole affair based on lots of looking at posts, DD and a host of other stuff...
YA are crappin themselves and are desperate to convert as many shares as low as they can to then sell them because they know that additional financing is coming - remember they had to have first refusal themselves.
Once they declined and knew that additional financing would come on board which would probably pay of their loan and cancel their CD, they had to covert quickly to ensure maximum return on their investment - they make more converting at 48% of whatever price and then selling, when compared to the interest that they'd receive when the debt is repaid. Plus they probably don't know when the debt will be repaid and so they want to be in a position to hold as many shares as they can just in case the PPS flies up unexpectedly.
They need to keep selling as they can only convert up to 10% and that only equates to approximately $48k (thanks BBW) so they need to keep converting as quickly as they can to then sell them a get a better ROI. As for all of the other large buys, at the current PPS that's not a lot of dollars to pick up millions of shares.
I'm long and proud of it and am still averaging down because I believe this will blow soon - why would the boys be cleaned up and the Bod sign agreements with know JV /M&A / capital financing specialists.
Get ready for the ride boys and girls, it'll be a rollercoaster when it does go...
