thebouch, if you don't mind my responding to you, there is an interesting theory behind that big ask, as postulated by the chief on SI. (Hope that isn't a dirty word over here).
First, someone with options or warrants shorts the stock at higher prices, could be anywhere from $1.55 on down, I suppose. Having established their short position, they now put up for sale a block of shares equal to their option/warrant ownership. The most recent options were set at $0.72, and the warrants from the rights sale were $0.83. So whichever is the source of potential shares, any shares sold short from here down to that price can be covered by exercising the intrument to receive just enough shares to cover the short. So money is made guaranteed on every share sold down to the exercise price. In addition, every tick down creates further profit on the shares that were already shorted for the initial short position.
It may not explain the situation here, but it sure could, and it's a pretty foolproof setup. Only a humdinger of a news release could mess with the outcome, and that seems to be at least into the new year before happening, in all likelihood. So short some shares, and use the daunting sight of a quarter million share ask to push the price down further, making money on the initial short and the warrant-backed short. I guess we'll know if it is what's happening if the share price drops to the warrant price, then stops, or the big ask gets taken out before that, then the warrants get exercised by the holder to cover that sale.
