Yes there was some selling on Friday but you need to look at what actually happened. After hitting a low of .035 on Thursday (thanks to Mr. Anonymous who BTW has driven this sucker all the way down from 0.10 almost single-handedly), it rallied to close at 0.045 on some big buying by #9 of 1,000,000 shares. #9 is obviously an institution recognizing the extreme oversold nature of this stock. There was also bids of over 1.5 million shares at 0.04 at the close. All this to me appears to be marking 0.035 as the bottom. With over $18 million in cash which works out to almost 6 cents per share this company is definitely ready for a rally.
Also, #11 is MacQuarie which is probably another institution. Looks to me like #1 selling was a forced liquidation as the price kept being driven lower. After selling over 26,000,000 shares since January 18th I think he is close to done as he did not sell into the bid at 0.04 while previously on Thursday he sold into the bid at 0.035.