Good post texman. Doesn't make any sense does it? Kashner is a classic chop shop....take some POS company public, pump the price, sell the stock they have in inventory it to their clients, and then watch the price of the stock collapse, and most likely the company disappears. They just move on to the next IPO and do it all over again.
I just hope you didn't already 'shoot' all you have shorting this, it could run some more...i've nibbled on a short position and will add if it continues to rise but careful, this can be very volatile before it burns out.