I'm predicting a lot of volatility at first with the shorts all needing to sell. It's hard to call the first day. But I predict to 6 at a minimum in first month of trading. With a good Q 4 2013 and a good Q1 2014, look for 10 by June.
Look at the prices when the shorting occurred. Much of it was over $8 and a vast majority over $6. This also shows the relatively low amount of new shorts from those who held in the money Puts and converted them to a short position. That is the extra 180K in the 12/31/2013 period.
So you may have 180K that feel uncomfortable being short and will choose to cover right away and then you have another few million that are well in the black and don't NEED to do anything. It is much more likely someone who was long NEEDS the money and is forced to sell immediately after their money was held hostage for months. By definition someone who is short is taking a much more speculative view and it is much less likely they would NEED to sell after a few months.
I'm still not sure if you actually believe some of the things you post and you are going to get the surprise of your life or if you are desperate and hope to convince others to hold long enough for you to get out first.
FAB Universal (NYSE MKT: #$%$), a worldwide distributor of digital media and entertainment, today announced that the international law firm, Loeb & Loeb LLP, engaged by the Company’s Board of Directors to investigate allegations made in published reports through November 19, 2013 by short-sellers of FAB’s common stock, has retained FTI Consulting, Inc. and FTI Investigations LLC (collectively “FTI”) to assist it.
FTI will provide independent investigation support to Loeb & Loeb, which is working with the Company’s Board of Directors, in connection with the review of certain issues raised by the short sellers regarding accounting, licensing and kiosk locations.
“We are pleased that Loeb has retained FTI, which has outstanding capabilities and an outstanding reputation. Management remains in complete support of the independent investigation of these issues and continues to be committed to full cooperation,” said Christopher Spencer, CEO of FAB.
I think it was resume sometime after the 10K has been filed, which would mean in a few weeks.
Now that they've hired the 3rd party and NOT issued any additional disclaimers (like the bond)
I expect the share price to trade on earnings (whatever they are).
There will still be skeptics, and it will effect the share price for a while, but as time goes on (just like NQ) the trend will be for the fear to subside (lower share price) and the greed to kick in (higher share price).
I'm hoping for north of .30 cents for Q4.
I'm guessing Loeb and Loeb has probably been involved for months. As a last step, the investigators need to investigate a few things (note: these are real investigators not Carnes' college kids). Then the consultants need to come in and use the investigation evidence to make recommendations for corrective actions (this is the delta between what is and perfection). The verification is going good if investigators/consultants are needed. I think we will see the 10 K before 4/10/14.