We could speculate all we want about the debt holders reasons for selling, if in fact they are the current sellers. The best clue we have, the last 10Q. 1.3 million shares were converted, that's fact, reasons unknown. What would prevent the debt holders from converting another million shares this quarter??? Even with a news release or releases, the S1 would need to be amended, that doesn't mean the S1 is effective. As long as the S1 is not in effect, the debt holders control the trading in our stock.
Until the debt holders are somehow neutralized, run the course of their conversion, or the S1 is effective, you can say, "Houston, we have a problem."
CP