they knew there was an announcement due ... from the one last month (the app delivery was due in April), so they waited, and I bet they saw the app become available. They also probably held off at the beginning because of the 4C ... and then the announcements on the acquisition etc.
So they converted $100k to push the price down as soon as they saw the app become available, then waited for the announcement to push the sp back up. Now they can take advantage of the lower vwap with the higher sp, and get themselves a nice bonus.
On Thursday the vwap was around 1.2c, on Friday it was 1.16c ... so somewhere between the two is the number, depending on the balance of trades. The other days are higher. So 17-19 million shares is my estimate of the conversion for $250k.
Other things to note are the fact that the meeting is on the 30th, so there are bound to be some sweeteners before that ... and the last thing they want is an increasing sp to try to convert from. They really have to go this week ...in the next couple of days, or they lose their chance this month.
Then, of course, it all resets on the 1st - another $350k of shares ... so we'll see where things are then. The next couple of weeks, and the result of the meeting, will determine what they do for next month, I reckon.
XPE Price at posting:
1.4¢ Sentiment: None Disclosure: Not Held
