Lizzy, I believe at 10% he becomes an insider, and thus is required to report EVERY transaction within 2 days (similar to officers of the company who report Form 4's), not just cumulative 1% changes.
My *hope*, is that he keeps nibbling and gets close to the 10% mark, and then blows the doors off with a big buy, to get the SP over the $1 mark that they need. Because adding a few million shares is relatively meaningless at this point. $3M is literally table scraps for them.
Also, if he takes a substantial position (say, 20%+), it further prevents short attacks (as they can shield their shares from being loaned out for shorts to borrow).
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