I think Sheldon is trying to grab as many shares as he can before the June AGM because once his Pinetree guy gets elected to BoD, he's gonna be in blackout along with the other company insiders, as Mrs.Shepherd mentioned.

The nice thing about that is in theory the shares he's grabbing aren't going to see the light of day in the public market any more. His only way out is a buyout.

In effect, the shares Pinetree is buying is acting like a share buyback, without costing the company any extra money. Sure the actual float is not decreasing but the public float is. And that can only increase the ultimate value as competition increases for avaiable shares, once this company signs their first deals.