EcoSphere Technologies Inc. (fka ESPHQ)

[Recognizer]

From the 10Q filed 8/9/2011
Warrants have decreased dramatically.
Big blocks at bid and assk.
Only explanation is MM's,mostly CSTI are selling to each other and also insiders could be selling to a preferred investor.
During the three months ended June 30, 2011, the market value of the Company’s common stock decreased from $0.62 per share at March 31, 2011 to $0.54 per share at June 30, 2011 resulting in other income of $174,873 related to the decrease in the Company’s liability for warrant derivative instruments. During the three months ended June 30, 2010, the market value of the Company’s common stock decreased from $1.50 per share at March 31, 2010 to $1.24 per share at June 30, 2010, resulting in other income of $7,009,611 related to the decrease in the Company’s derivative liability. The larger impact realized during the three months ended June 30, 2010 was due to a significantly larger number of derivative instruments outstanding as of June 30, 2010 as compared to June 30, 2011. The derivative liability at June 30, 2010 was based on 16,911,486 warrants outstanding plus 1,828,703 shares related to embedded conversion options. There were 1,640,417 warrants outstanding and no shares related to embedded conversion options as of June 30, 2011