Seven Arts Entertainment Inc (SAPX)

[sbc357]

I tend to think that there are only a few shareholders who held through that RS, and that the majority of the shares held were by Hoffman and friends, and this is their way of getting a percentage of their shares back. The other percentage of shares lost were given back with excessive company incentives of other options and warrants to make up for what they lost.
As for the .03 - it may come right before they hit with that 200,000,000 shares of dilution.
They hit us with another good sounding deal that stimulates a spike in share price, they exercise their warrants and sell the shares from them, and then continue with the rest of the dilution.