Listen you guys dont know what a warrant is in detail. This man made the warrant to purchase 30 million shares at specific price in 2007. He can not change that price. Time goes on and he believed in the company. He knew the stock would double or tripple by the time he would exercise it. Well he waited till now and will now have to exercise that warrant by September 2010 meaning purchasing his 30 million shares at those prices. He wanted the warrant like all warrant holders to tripple their value because a warrant is much like a bond but a bond earns interest all the time.
The fact he has to exercise a warrant for 30 million shares that gained 0 value since 2007 and as of now is above Common share price has him MAD.
No that 1 million in shares was a combination of buying and selling but mostly selling and it was a combination of different block trades with alot of Market Makers on Level 2 filling their bids meaning buying.
Good theory, but he is an insider because he owns more then 5% of the company: therefore, he must file a form 144 accompanied by a form 4 on the sale. I've looked back to 2001 and can find no form 144 or Form 4's in all those years. Now he must have filed recently to effect a sale now or from the time we hit the highs in order to negatively affect the price. It make zero sense for him to be selling. If he is hedging, some kind shorting, he would also have to file.
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