Short interest. The current float and outstanding is approximately 700 million shares. There are some outstanding convertibles which were liquidating stock, 5% of the outstanding per week. That's stopped when the CEO Dean Cubley , Failed to authorize an increase in total outstanding shares. As well as a sale of the company that went poorly. There could be no liquidation by these convertibles until the financials are Audited and current and the share structure is expanded. Having spoken to Management on numerous occasions it's my opinion they plan to buy out the convertibles for $.10 on the dollar. Why? Because Cubley has 15 million of his family's money invested in this vehicle, the company also sports at $66 million net operating loss. Which is a valuable asset. It's my understanding from conversations with Cubley that this NOL can be used as long as erFB is the acquiring company in any type of merger. The business that they merge with is not limited to COMMUNICATIONS or oil and gas. Furthermore, it's my opinion that the company will focus on banking Health Care and educational wireless networks as they're less volatile tjan oil and gas. With that said the convertible company I've isolated is Chicago ventures. As we all know these convertible companies are lowlifes. They sell stock in advance of them converting it into equity. In some instances many months in advance . The stocks recent move up in my opinion is due to the convertibles covering short positions which they ultimately need to be flat at the end of the year, And December at their clearing firms. Often they will sit there with a naked short telling the clearing agent for months that they have stock owed to them that's coming in they sell at high first the price gets driven down wind up covering much lower and locking in a profit in.that's why December you see a lot of small-cap stocks move significantly higher as naked shorts are covered . I think the chart curling up here is indicative of that potential . this move could be Majestic. Do your own due diligence nothing is guaranteed in the market. My .02
Best guess of naked shorts 200-300 million .
