I agree, why would any institutional investor be selling at a loss. It would be very short-sighted, and they haven't even given the company a chance. I don't think the institutional investors would be that dumb or make such poor investment decisions. If they were confident in their investment when they participated in the offering they should still be confident now, as nothing fundamentally has changed with the company in those few weeks other than the uplisting to NASDAQ and the merger with Sound Concepts.

I don't think any of this is institutional investors either. Also the volume is getting lower and lower the past few days.