It could be that, but in all honesty, it could just be your run of the mill small cap trading shenanigans. Meaning artificially stacked sell orders to drive the SP down based on face value buy vs sell #s.
Could be investors or LT holders who are ready to get out and want to be first in line when the dinner bell rings, but my guess is that when the announcement that we're waiting for comes out, that many of those orders will disappear. Perhaps even shift over to the buy side.
