I sure didn't have a spare $70k lying around to convert oppies...

I sure didn't have a spare $70k lying around to convert oppies so I sold a few in tranches from 72c down to 49c to have sufficient to convert and still come away with same number of shares. This is probably the first time have foreseen and been in position to capitalise on the over reaction.

The dumping after hours into buyer weakness yesterday doesn't help anyone except the person who either wants to get out or anyone trying to manipulate the close price.

If the BOD did the same arbitrage it would be taken as a very bad signal to the market regardless of how many they still held, in addition they are still under a 6 month voluntary escrow as part of the NASDAQ listing.
Each of the BOD would require their annual salary to convert a large enough percentage for the market to be happy. Offloading this entitlement to increase liquidity on the NASDAQ sounds much more beneficial in the long term.

Everyone has different timeframes for investment and strategies to achieve their goals. The recent APIRx acquisition has increased my target price and we have recently seen with Jazz for GW Pharma $7.2b (~$10b AUD) and Pfizer $6.7 (~$9.6b AUD) for Arena Pharmaceuticals what takeover numbers are possible with even modest drugs sales figures of an FDA approved product.