I doubt that any of this has anything to do with the volume seen (☺):
Issued 50,000 new warrants for Investor Relations (exercisable at $ 9.05/share immediate vesting)
Issued 92,541 new stock options (estimated weighted-average fair price of $4.98)
Issued 195,234 new shares - exercise of stock options ($300,114 or $1.537/share)
Issued 151,877 new shares - exercise of warrants ($197,590 or $1.30/share)
Issued 10.439 new shares to consultant ($100,000 expensed or $9.579/share)
Granted 237,800 shares of restricted stock (estimated weighted-average fair price of $7.11 vested linearly over 3 years)
Source: 10Q for 3/31/2011