Adding a couple of thoughts....

First, it would appear that my recent speculation re: PTSC offering S&L a premium in a warrant buy-out scenario, is NOT happening. While PTSC almost certainly has the funds in hand to do such a thing, if such a thing were in the offing, it seems to me that we'd have seen a much more significant run on the Funai news. That is, the news was obviously met with a lot of selling resistance, presumeably from S&L selling to enable conversions.  They, IMO, wouldn't be selling any more if a warrant buy-out at a premium was on the table (why sacrifice the premium?).  Thus, it would appear that my speculation was off.

Second, having to do with your planned sell-off/accumulation theory, why would there be a need to "hide" such transactions? While we would suspect S&L of being the seller, the buyer would remain unknown until they hit a reporting cap, in which case it would become known anyway. What would be the imputus to hide the transactions? This I just don't get it....and therefore I don't buy it.  Maybe you can help conquer my ignorance?! (i.e., I suspect you see something that I don't).

SGE