I'm behind in my reading, so someone else may have already explained. But the 2 million shares a month limit is on how many warrants PTSC can buy from S&L direct. There is no limit on how many SHARES S&L can sell on the open market.

S&L may be selling a good deal more shares and not only to enable conversion of warrants before they expire, but also to enable conversion of as many warrants (not currently subject to expiration) as they reasonably can simply to improve the condition of PTSC - which is, after all, their cash cow.  Healthy cow = more milk/meat in the long run. 

MOs.

SGE