I did notice that there were some warrants at $0.125 that expired on March 31st for Hugh Robert Wilson. http://canadianinsider.com/node/7?menu_tickersearch=tdc
Is this the first notice of many, or just one isolated issuance? I will need to dig deeper tomorrow (or, later today) to answer that.
If there were a lot of warrants at $0.125 that expired on March 31st, having the price stay down here a little while longer has limited further dilution.