Or is the "strategic partner" trying to drive the price down so they can convert and obtain many more shares at a lower conversion price? Remember, they don't have to convert on June 1. They can let the price simmer back down and then convert. Do the math. Look how many more shares they'd obtain if they could drive it back down and convert around .30 as opposed to .60. I'm not saying it's likely but it is a path they could choose to go down if they are either a short term partner or if they are looking to obtain a bigger piece of the action.

$2,500,000 / .60 = 4,166,667 shares

$2,500,000 / .30 = 8,333,333 shares