For the forth and possibly last time this month, some 25,000 options or warrants have been converted on Thursday. Since we closed at the high of 0.57 that day and never traded below 0.53, I believe some shorter(s) were forced to cover by executing their 0.52 warrants. The good thing is that these warrants are gone now and can never be used again for shorting games, thus reliefing the overhang somewhat.

All in all, the share count rose by 518,751 in October, possibly all by execution of 0.52 warrants, but we cannot know for sure.

I think this will continue for some time (max. 367 days) with gradually decreasing pressure.