I'm leaning more on the side of a mistake on those insider sells, just like the insider buy we saw a couple of months ago that turned out to be nothing.

Sheldon isn't selling any of his holdings. Infact, SEDI says he's been buying (not us, but other securities) over the past month.

It appears he is undertaking a different strategy for solving his debenture problem:

http://finance.yahoo.com/news/pinetree-capital-announces-proposal-amend-200000856.html

If this goes through then he will not need to react at all and it will be business as ususal for him.