Ann: Half Yearly Report, page-44

As I've pointed out before there are 1.6bn options at $0.005.

If you hold 10m options you need $50,000 cash sitting around to exercise as there isn't enough volume to sell the options on market.

If the share price is above $0.005, then it makes sense to exercise.

If the share price was at $0.01, you only need to sell 5m shares to raise the $50,000 required to exercise the options.

Hence people have been selling their initial shares to fund the option conversion.
Hence, the selling pressure which I envisage will increase toward the expiry of the 1,600,000,000 options on 21st April.

As for the comments of people selling to buy in lower. If you held 90 units in a 100 unit apartment and you wanted to buy the last 10 - would you really start selling your units at ridiculous prices to lure the the owners of the 10 units to sell. By doing so, chances are the owners of the 10 would pick up the ones you've sold meaning you need to buy back more and at higher prices.

People have been selling this for the simple reason that they believe its over valued. The same reason you sell anything.
Yes it's matched with a buyer who thinks its undervalued.
But there has been a whole lot more selling pressure hence the share price hitting a new 52 week low at $0.006

Now join the dots