1. Elan can not come up with sufficient cash to cover obligaitons.
2. SEC comes up with negative finding on Elan, dramatically increasing Elans Tort exposure. Geaney almost choked when he admitted Elans total liabiity insurance was an insignificant 50 million dollars.
IF, if, if Elan can sell sufficient assets for cash and if, if, if the SEC does not come up with a negative, then one will see one of the greatest short squeezes of all time.