I'm starting to feel like a broken record but will try one more time. Look at the SEC filings. I've posted links to them but apparently no one is looking at them.
Per those filings
S&L's total shares are reported together
They can't EXERCISE shares if it would put them over 9.99% ownership (ie exercising INCLUDES converting and selling)
Their total share levels have increased filing to filing
Their total share levels INCLUDE exercised warrants
There are NO filings that indicate S&L selling shares even though they are considered linked and beneficial owners.
Again, I'm not trying to defend S&L or prove that they aren't selling if they are, but IF THEY ARE, there should be filings or data to support it rather than filings and data that does NOT support it.
If the 10K comes out and we see their holdings down to the 20'sM shares, then that would prove they have sold, but filings thru February of this year don't show drops in share levels but rather increases and I've been hearng the S&L selling argument for 2 years.