I find it strange that someone would sell with all that "good news" - with Patents on water - a penny stock that could be going to the moon - but still he sold - everything - as fast as he could!
Kindly explain that one! (Seems like he saw something coming down the road - that we certainly didn't.)
Fairly simple, actually: ROI
S&L were restricted to holding under 10%, so the only way they could obtain a return on their investment was to sell/convert/sell/convert/sell...
Why have stock tied up indefinitely when other business opportunities awaited? Financiers are not long term investors and will take an early exit nearly every time.
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Be well