"just guessing, more selling to buy debentures ???"

If so, smart move on the part of shareholders!  

I foresee no great moves in this stock at least until the deal closes (or in anticipation as Oct 31 draws close).  That deal closing (and the money changing hands, not placed in any escrow for further waiting) will almost certainly mean we have a commercial product.  That will be a greater layer of risk removed than the mere execution of the contract.  

After that, it's sales and interest from other customers, etc.