Doesn't matter, higher share price = less dilution. They can only trade $10k or 20% of volume. My guess is that they sell lightly as this is moving up.
Sorry also, wasn't trying to post in a negative or offensive way, but I understand a little better now what you were talking about and agree, if the noteholders begin dumping it will rain on our parade, but they'd be completely crazy to do that knowing that results are coming and day now!