There was an increase in the volume on the bid in the last hour...

There was an increase in the volume on the bid in the last hour of trade suggesting that there is fairly strong buying support at $0.47. It will be interesting to see if $0.47 was the test of support which lies slightly below or if it bounces up from here. Historically, this pattern has seen it test the support and then bounce up, but today it showed little sign of dropping below $0.47.

Higher volume today compared to the last few days but the supply that keeps coming out is being soaked up by someone. For every trade that goes through there has to be a seller, but also a buyer. If both aren't there, there cant be a trade.

It is interesting to note the assumption that it is the options that are being dumped on market as they are exercised. The latest exercise of options was for around the 600 odd thousand options, which makes a limited impact compared to the trading volumes in the last few days, if indeed these options were dumped on the market. Yes, there are 12 million options to be converted in the next month or so, but there is no guarantee that these will simply be dumped on the market as they are converted. Whilst there is nothing stopping the holder exercising the options and then dumping them on the market, there is also nothing stopping the holder retaining the shares from the exercise of the options. Similarly, there is nothing stopping a large holder of shares in the company from dumping shares into the market for whatever reason, and unless the holder is a substantial holder there is no requirement to advise the market of the change in holding. From the company bank account perspective, it is better that the options are converted as opposed to expiring worthless.

All IMO.