We know Pinetree has no funds to exercise their 2.7 million warrants at 1.00. After all they had to issue over 20 million shares at .04 just to pay off an additional 1 million dollars of debt recently.

So Canaccord could very well be Pinetree selling to raise money to keep their skin in the Poet game (i.e to exercise the 1.00 warrants As goosed2 said earlier, 10 cents below 1.00 is not much considering the millions of shares involved here.