The noteholders wouldn't have converted their notes into common shares if they believed that the pps would go down, this is just temporary in my opinion.
There just isn't enough buyers right now with all the new shares in the pool, so the price will dip until they are all absorbed.
I am currently begging my wife (yes, I have to do that!) for extra cash to buy more while we are down.
I wish some other websites like the guru would take interest and publicize this company a bit!