"Does anyone here have a clue as to approximately how many warrants are left to be converted??????"

No one actually "knows" the answer.  However, we will find out if warrants have been converted when the 10Q comes out.  If we see that S&L actually have been converting, we'll have our answer as to who the big seller is. 

I think most experienced investors would tell you to invest a little bit at a time - that is if you are actually interested in making an investment.  Buy some tomorrow in the high .50s if you can - that may be the lowest price you'll be able to get - may be not -we could get more good news and the Seller(s) will continue to do their thing and lower the SP even more - if that happens, you can invest more at a lower price. 

I'm not sure how fast the share price would shoot up after big positive news like a favorable Markman.  If you're constantly watching the stock, you may be able to jump in and catch the ride up - may be not.  Others may voice their opinions on what to do here. 

GLTY