It seems obvious to me. Those who participate in Private Placements then turn around and sell shares gradually, then use that cash to participate in the next PP. For example, those who were in the PP at $0.10 are now selling at .15 to .155, making a good 50% PLUS they keep share purchase warrants. They also want the price to stay below $.20 so that they are not triggered to buy the additional commitments that went with the last PP.

In this way, they transfer participation in the last PP to small investors at $0.15, and are ready to go when the next PP is required. It's not dishonest, but makes me wish I had the clout to participate in PPs.

Of course, I would love to see the SP go above 0.20 for a month, force them to buy the additional commitment (warrants) trigered by that 0.20 level, thus also putting more cash into the TDC coffers. But I think they would sell into that sort of buying pressure, to keep the lid on SP and thus get more warrants from a PP below $0.20.

SKELLIG