The price action may be tied to the buy in price for the Chinese. Kry has the right to have CRRC buy a set amount of shares after the closing of the A&F Agreement for 30 days at the 20 day weighted average on the AMEX. I would assume that the reason the price wasn't set was so it the price was low Kry wouldn't ask CRRC to buy. If the price was high they would ask them to buy.

Remember CRRC has the right to convert the debt at .40 a share for up to 5 years but they can't go over 19.9% of the total shares. If the 20 weighted share price is above .40 it would make sense to ask CRRC to buy shares now to reduce the number of shares they can buy at .40 in the next 5 years.