Even if Swartz would own their maximum of 25mio shares, this would "only" equal to about 6,1% ownership.
Thus again my question:
Why is Turley speaking of 8% maximum ownership?
For me there are only two possibilities:
1. Swartz bought additional shares before the warrant-buyback-agreement (which I doubt)
2. Someone else bought shares (but then we should see a filing)
Hm...