PTSC did buy 2M warrants back sometime in Feb-Mar 06 and I don't know why they completely abandoned the program after just one month. Buying the warrants back from Swartz would have been much better than dumping them on the open market for me and you to buy. As per the agreement which Bigplay is referring to it in essence does have an impact on what Swartz does with his shares but not warrants. The agreement between PTSC and Swartz calls for Swartz's ownership to be below 9.99% of the OS and since it is apparent that warrant conversions are going on Swartz must sell some of his holdings to free up space in the <9.99% bucket for new shares from the warrant conversions. Now with 390M shares OS that gives him 39M shares to be able to hold but he still has 18M warrants to convert. 39M + 18M = 57M the amount of shares Swartz would own through all warrant conversions, also 18M + 390M = 408M ..the OS after the conversions. Now 57M shares would put Swartz somewhere around 14% which is in breach of the agreement. He would have to sell net 16.5M shares in order to convert the warrants and comply with the <9.99% agreement (he could sell more??). So Bigplay PTSC has not forced Swartz to convert warrants but they have made it necessary for Swartz to sell shares if they do convert warrants and are enforcing the <9.99% agreement.