Yeah, that's a very good point imo. Mr. Silverman's selling could account for a lot of the price decline. I hadn't realized that till now (and I had just found out yesterday that Mr. Silverman sold shares post 3.29). That's a lot of supply to fight the demand.
As of his most recent form 4, filed on 3.30, he held 34,973,263 direct shares and 2,785,008 indirect ones. And per the 7.19 form 13d/a he owned 23,773,263 direct shares and 2,785,008 indirect ones.
So that's a drop in his ownership of of 11.2m shares in that time period.
Also since Mr. Silverman is a 10% owner, i've contacted the IR at the company inquiring if they been in touch with Mr. Silverman at all (ie. as to why he has not filed the legally required form 4(s). It's my understanding that he's in violation of SEC law right now.