Pinetree has not (yet) announced another tranche of debt to be redeemed beyond the tranche of $10 million on July 13th. There remains approximatley $25 mln in debentures outstanding (after the July 13 redemption) due May 31, 2016.

That does not mean they won't be slowly leaking out PTK (and any other holding they can find a bid on), since they have not traditionally held a lot of cash on the B/S and $25 mln is a lot to come up with in a bunch of relatively illiquid names.

Unfortunately for us, they remain an overhang until the debentures are gone - even if we get a positive press release and the share price goes up (then they just won't be as big an overhang since they need sell fewer shares to get their $25 mln.)