As per the SEC filings, most, if not all, of the options were granted at 5 to 7 dollars (pre split prices). Many of those vested on Feb 13, so are fair game to sell. The insider who bought 2000 share at 28 was an illusion, since he has several thousand option at below $8.
Yeah, that is what I am trying to say..it can get a lot uglier, because there are so many other forces at work here. You may be right regarding the relief rally, but it may very well keep right on going to the pink sheets. The NASD does not take kindly to their exchange being used as a casino, and a crooked one at that.