Fut,

In this case the conversion of warrants from S&L IMO SHOULD affect share price at conversion time because S&L are at their 9.99% max holdings each. When converting they must make room for new shares from conversion. In short they would have to sell their long shares to free up room for the incoming new shares from conversion. If they are selling shares on the open market and replacing them with converted shares which are not being purchasing on the open market it would pressure the stock right. Just take the 30M warrants (there are more!!!) at 1.5c ...hell they can sell for years at huge profits and still retain 9.99% of the company each. That's why we see an orderly sell off every dam day and until all the warrants are either repurchased or converted this orderly bleed will continue. Can you imagine how long it takes to dilute all those shares on the open market without killing the SP. S&L could kill the SP at any moment but that would do them no good...this way they sell a few shares every day...stall the price a little...maybe even let it go up a nickel then continue with their orderly sell off. This is why I always felt strongly that its more crucial that we buy back the warrants before we begin any kind of share buyback, or even have S&L convert all the warrants first then begin the buyback...what can we say but more poor management decisions???

I do feel that only when all the warrants are converted or purchased the price can begin to stabilize and even rise if a business plan is developed and executed well. This is why S&L said the stock will be volatile at the last SHM.