REXX is shorted at 41.01% of the float. This is an incredible amount for any
stock and there is really no valid reasons for it. The small float allows the shorts
to virtually control this stock. I doesn't seem right or legal but it's a fact. I
raised the question with management but received no reply.
The shorts are at it again. The small float makes it easy for them
to control this stock. Doesn't seem right but it must be legal.
From the company's website :
“These exchanges represent another positive step in our efforts to improve our balance sheet and enhance our overall liquidity profile,” said Tom Stabley, Rex Energy’s President and Chief Executive Officer. “With a combined $29.1 million reduction in overall debt and over $12.0 million in savings on interest payments, we are making good progress on our balance sheet and liquidity improvement initiatives and will continue to pursue other strategic enhancements while we weather a challenging commodity price environment.”
This can be very good news for CPST.
The U.S. Environmental Protection Agency (EPA) will begin developing regulations for methane emissions from existing oil and gas sources immediately and will move as expeditiously as possible to complete this process. Next month, EPA will start a formal process to require companies operating existing methane emissions sources to provide information to assist in development of comprehensive standards to decrease methane emissions.
Every two shares of Common Stock will be sold with one Series A Warrant to purchase one share of Common Stock at a collective negotiated price of $3.50. Every two Series B Warrants will be sold with one Series A Warrant to purchase one share of Common Stock at a collective negotiated price of $3.48. The shares of Common Stock or Series B Warrants, as applicable, and the Series A Warrants are immediately separable and will be issued separately, but will be purchased together.
The increase in NG prices can be an influence but not to this extent. I agree, it has been going on too long
for short covering effect. There is quite possibly something more afoot here.
I believe the small float allows the shorts to continue their control over REXX.
They are obviously making money at it or they wouldn't be doing it. It's a