"My buddy think Pinetree sold to pay for warrants…

That would make sense if what PNP says in their mar 26 release about paying down $10 mil before April 30 is true, that being they will pay it out of available cash. Did they have "available cash" at that time? If so than this becomes a very viable possibility that they are selling shares to exercise the warrants. So again why are they buying these warrants away ahead of time using up much needed cash? Very strange. Must have something to do with control or what is about to happen in the very near future.

2015-03-26 16:29 ET - News Release

TORONTO, CANADA -- (Marketwired) -- 03/26/15

Pinetree Capital Ltd. (TSX:PNP) (TSX:PNP.DB) announces that it is exercising its right to partially redeem the company's 10.0% Convertible Secured Debentures due May 31, 2016 (the "Debentures"), in accordance with the terms of the trust indenture governing the Debentures. On April 30, 2015 (the "Redemption Date"), Pinetree will redeem $10 million of the $54.822 million aggregate principal amount of Debentures currently outstanding. The Debentures will be redeemed on a pro rata basis at par, together with all accrued and unpaid interest thereon up to but excluding the Redemption Date, for a total redemption amount equal to $1,041.37 for each $1,000 principal amount of Debentures redeemed (less any applicable taxes required to be withheld).

Pinetree intends to use available cash on hand to pay the aggregate redemption amount of the Debentures.