Turr, why not? Here's the way I look at it. PNP has been mainly a seller over the last year or so, so why should they buy now at a buck if the price isn't over a buck and they can't turn a quick profit? If the stock's at .90 on warrant expiry, if PNP wanted shares they would probably buy over time, making sure they don't get the price much over a buck. If the stock's trading at $1.15, they will likely sell it short, then exercise for a buck and cover. They just don't seem to want the stock, similar to the many who sell it every single day on the exchanges.
I'm looking forward to the cc on the 16th and, of course, any good news that might be released before that, but I still stick by something I said a month or so ago - the lack of positive share price action during and after the road show leaves me believing that no major positive share price moving news is coming all that soon. I would be pleased with some movement on news and, of course, on encouragement by way of the cc, and "pleased" means getting us to say $1.20, and oh so much more pleased if that price is sustainable.
The greater the run-up prior to the cc, the less chance that whatever the highest price we get to between now and the cc will be sustainable.
We all will need to hang in there for a while longer before the big price rises are possible/likely. But if they come, they might really have legs. Could happen anytime, of course, but my guess is not before the latter part of 2016.