Oops, hit post too quick on last one.  Thanks for your responses.   Looking thru the SEC filings, there area more warrant holders, however S&L are by far the largest ones.

dys1-  As I posted earlier I found the 29M reference in the 10-Q that you reposted so thanks.  Also, the PR that was posted with the 10Q elaborated that there were 18M warrants left so I'm not sure why the difference, but perhaps it has something to do with debenture related warrants vs others.  I hope to have a second to e-mail Hawk for clarificaiton and will pass along what I find out.

It does seem that the S&L owned share counts that are listed in the various SEC filings DO include warrants they've exercised, but not ones they have rights to, but haven't exercised yet.  Also, they can't exercise warrants if it puts them over the 9.99% threshold.  So we should be able to tell if S&L have sold shares by looking at their next reported shares owned, compare it to the last reported shares owned, check what warrants were converted to shares between that time period and see if that adds up to the difference.  If more warrants were converted vs the difference in shares owned, then we'll know they sold shares.  I haven't found that to be true from filings so far, though I'm planning on rechecking to verify, but from that info, it does not appear that S&L has sold anything significant, and certainly not enough to quash the price and any pps rallies.

Thanks again for your posts and if you guys find any more pertinent info, please share.  Thanks.