Please advise as to how in the world anyone could make a determination that the warrant conversion by S&L is complete.  It appeared they were selling in masse into big volume, and one could surmise they sell slow on low-mid volume days.  It also appears, more recently, that their selling (assuming it's happening) is done with restraint, so as to not drive us down more than a penney or two at a time.  It appears to be a controlled endeavor. And it could easily be continuing today.

So what is my contrary evidence, suggesting that S&L isn't done?  Who, at this point in time, with any knowledge at all about what PTSC is about, would be selling today? The key point being "at this point in time".  Who would find it probable that the PPS is going to drop significantly in the very, very near term? (assuming the PPS will likely rise going into the Markman, and also assuming that the pace of new licensings will pick up, possibly dramatically).  What I'm suggesting is that with the present circumstance the probability of successfully flipping for more shares is not real good, i.e., any present selling pressure should not be coming from retail investors.  That leaves S&L.

Also, tthey've already "locked" the divy on "qualified" warrants, so any incentive to hold them (beyond the basic) no longer exists. 

Thus, I believe S&L is probably selling today into the rather weak volume on a controlled basis.  Buying is weak, I suspect because we here are already all in (to our tollerence level), and few others are paying attention.  And that too, I believe, is by design (i.e., lackluster PR).

But I KNOW nuttin'!

SGE