Merrimack Pharmaceuticals, Inc. (MACK)

[SilverBack]

That's incorrect as all trades whether buy, sell, and or cover takes T-3 settlement as all shares go thru the clearing house unless it's naked shorting which is a whole different ball game and illegal to a point.

Therefore the last day to buy to get the divy or cover to avoid paying the divy was today.

So technically the shorts will now get the divy unless they cover before the pay date of the 26th which if they don't cover it will be automatically taken out of their accounts plus they will still have to cover on top of that.

There were rumors that the note holders shorted the stock thinking they could drive it down more with the shares they were going to get but we're thrown with a loop when MACK was going to use the sale proceeds to pay off the debt. Now they are caught between a rock and a hard place.

Next week will be interesting as we continue to climb while they buy back in with desperation or face huge financial impacts. The shorts that don't or can't cover will basically be paying around $21M based on the last short report which saves the company money since they wouldn't have to pay us that out of the divy.

It's a win win for longs either way.