Just for perspective purposes, it doesn't appear that HL has participated in the last number of rounds of financings, at least that has been reported on insider transactions. By not participating they are having their holdings diluted. This general trend has been in place for the last couple years. When the numbers come out prior to th AGM we may find that HL's ownership has gone from 43.something% to around 41% now.

IMO none of the insiders would gain enough to make playing outside the rules(that golf has pointed out) worthwhile enough to take on the wrath of the regulators at this time. RVX has a BTD and is apparently in partnership talks as we speak. Would any insider really want to disrupt a potential liquidity or value creation inflection point at this time? I wouldn't think so.

tada