I would imagine that the nearly 100million shares that Asher dumped on the market had a bigger effect on the price than the increased AS. As long as Asher is converting I would expect to see some big drops as he sells off, keep in mind that he is getting a 40% or 60% discount (don't remember the exact terms off the top of my head) on the lowest share price when he converts, so dropping 20%-30% would still net a hefty profit.
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