I heard that the new shares are restricted. ALSO... due to the filing, some of the restricted shares that were previously issued are now locked in for another year (or even two years?) of trading restrictions. So the float has been locked up even longer. I don't know the number of shares that this effects though, and I'd love to know when more shares become tradable.
I also believe that many of the options/warrants were issued at higher prices ie 4 to 8 cents so they obviously need to hold till they are in the green.
B