Amybe soem people look at the situation as "I was here for a financial transaction, I know little about the technology or this company other than that it has traded at a very low price for a long time.  I am now able to lock in a 100% gain on debt that expires in this year (pick your month - tranches closed April, May, June, August and September).  So I am looking at between 4 and 9 months of 12% interest income versus locking in my gain and losing a few months on the life of my warrants in a year in which the Canadian government is rumoured to be raising capital gains taxes."

Mayb thaty is not your choice with your paper.  As for me, i have none of it so no axe to grind - just looking for from where the stock is coming. 

See the logic?  (Also, I believe that the company had made some requests for people to convert to help clean up the balance sheet?)