z trade - OPRA OSEQ Transaction is being reported late and is out of sequence; i.e., later transactions have been reported for the particular trade.
PHGI used to have large so called AH reports which basically told you that PHGI was under continued dilution. PHGI threatend that particular MM (RBCM ex. CLYP) with legal action and this practice vanished over night.
I suspect that the "z" tactic may be a renewed MM effort to disguise fresh stock entering the market (i.e. dilution)
"You can't be a real country unless you have a beer and an airline - it helps if you have some kind of a football team, or some nuclear weapons, but at the very least you need a beer". F Zappa