That is part of it. But I think another reason, and perhaps the biggest, is because the remaining 13M shares in the A/S that can be issued will be more than enough to satisfy the remaining debt owed to the note holders if the price keeps rising. In fact, .32 would be enough to pay off the entire remaining amount if it was due in one lump sum, which it isn't.
Looking at the chart it looks very possible that it will rise further. I expected the Spyder clock reset would cause a bigger sell off but it seems that that problem wasn't as big as imagined. At least not today.
I believe its because of the Management, Products, Real Company, with earnings/revenues, and people are awaiting 10Q and 10k.
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