I had guessed he would take about 25% in a post last week, so this shows how confident he is.

The only way he can really get out cleanly is through a buy-out. Any hint of selling (he has to file as a 10% holder within 5 calendar days), and he will just be crashing the remainder of his position as well. He would be playing russian roulette with his own money.

My guess is that the company signed an agreement with Pinetree that as long as they have a board seat, they cannot sell shares without prior PTK board approval. At least I hope they did :)