These guys are sophisticated. They might just have been dumping...

These guys are sophisticated. They might just have been dumping all the CR shares to balance their book, as far as their lose from selling shares under 20c was less than the profit for selling shares above 20c. In this way, I bet they didn't need to take any risk for putting up any money from their pocket for the 60m shares, not even a penny, and still gained reasonable profits. Needless to say that these guys still got free options as bonus, for potential future profit! It can't exclude the possibility that the management member(s) and "sophisticated investors" colluded to stage the deal, that VR1 got capital fund and the SI got quick profit plus bonus of free option, neither of the two would have zero risk.