I think whoever went on that huge buying spree a few weeks back took the balance of the PP after Ernesto and other insiders got their share. And that entity still wants more shares, which explains the run to 28.5 cents. Imo, the initial PP was fully subscribed probably within hours from when it was announced.

I guess people with deep pockets were rushing to get PP shares with both hands while some "experts" here were bashing Elmer for issuing the PP :)

In the end, the shares one owns is the only thing that counts, and many of the "experts" will be caught on the outside looking in; at least they will be taught a very expensive lesson :)