I don't intend to go back and look at all those various calculations, but I will reiterate that it all has to do with daily volume. Each new licensee offers a volume opportunity. And there have been a lot of new licensees over the past few months. And how many shares went off on 18 Dec? Now consider that 10 April could be a 20M share volume day - maybe even twice that. Swartz shares can be eaten up in a hurry - that is, if Swartz remains in "sell mode".

But I hear ya. But as I recall, Sept and Oct weren't very "exciting" months with high volume days - thus skewing your calculations. But, for all we KNOW Swartz has slowed or stopped selling, and is waiting like the rest of us. I'm just hopeful that he's still unloading (and the PPS would suggest this) and is exhausting his supply at a good clip. It's conjecture....

'Cuz I KNOW nuttin'!

SGE