no, the shares are not effective. the s3 filing is a standard procedure in response to the SEC's review. reuters is wrong. the SEC will review the filing and declare the shares effective in the near future.
I agree. The shares are not yet registered and therefore not yet sold. Lots of mis-information on this board (as well as from Rueters. Good news for shorts. 1.5 million shares still to be dumped onto the market.