Actually, we don't know that S&L is done converting warrants.  To the contrary, we know that PTSC will be buying them in increments until Oct, when they're supposed to be gone.  For all we know, S&L is still selling to convert.  After all, each share S&L sells and back-fills with conversions saves PTSC that much cash.  All we KNOW is that the warrants should be gone by the end of Sept.

JMHO,

SGE