That's the premise..
They must feel they are close to breaking thru. One contract and dilution can stop immediately.
According to filing...
There is an insider and affiliate providing cash to keep lights on. Seems crazy endeavor to risk, since there is no chance of getting money back from selling equity as that is dead.
The silence must relate solely to trying to keep dilution down. On top of that, the CD holders continue to convert but their volume is not in the daily trade. Either they are holding their max % ownership in anticipation of convertibles being closed subsequent to contract signing or they have private buyers.., which again begs ? Why?
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