Now short 100,000 shares, or 1.5% of the entire company.
They have said they need more capital. That's a problem, and justifies a considerably lower stock price, considering the inherent risk. I believe.
Do the deep value players that have become the "core holders" of this stock want to stick around, with the chance of major dilution, or a wipe out?
The news is not really widely out yet, except for the NT-Q filing. Once this starts getting disseminated in the press, I still think the stock goes much lower. And I really only see my upside risk as $1.25-1.50 at worst...unless they find someone to buy the whole company for $2+....which I very seriously doubt.
Shorted more right before the close. Now 118,000 shares short. Anyone long should be happy getting 50 cents for their stock, imho. I think we may see that price in a matter of days/weeks. There's more risk here than meets the eye. Again, imho.