It's the old bait and switch. Bait them with the buyout, get more people to convert, and then no buyout because it won't be good for the shareholders at this time. Meanwhile, they have your $$. Perhaps, the buyout is coming, who knows in pennyland. Hang in there.
People either believe that the proceeds from the sale won't amount to much or that SW will keep it all for himself or in the worst case, both.
Who knows. But the fact remains that somebody is dumping a fricken fracken crapload at almost the lowest PPS into what seems to be good news. My next expectation is that SW will announce that the acquisition talks broke down and that there will be no selling of BCO/TFN. (Do you see what I did here? I'm playing reverse psychology with myself.)