Its more dangerous to be short this pinky
There is not a single share of NEWC short. ZERO short interest. http://otce.finra.org/ESI
And do not confuse short VOLUME with short INTEREST. Not the same thing.
High short VOLUME is a very bad sign. It means MM's are trading shares they don't have in inventory. But those shares are always covered by the end of the day, either within seconds or through an arrangement with the toxic debt holders.
Here is how it works:
A toxic convertible debt holder makes a deal with a friendly MM. Since they are able to convert the debt into shares at a fixed percentage of the market price, they make money (lots of it) regardless of the trading price. They tell the MM to sell as many shares as they can during the day. Right at the close, the MM tallies up how many shares they traded that day and tells the toxic convertible holder. The toxic debt holder then sends the Transfer Agent a conversion notice for that exact number of shares. By law, as soon as they notify the Transfer Agent, they are legal owners of those shares. They tell the MM they now own the stock and sell it to them at an agreed upon discount. Voila! The toxic death spiral holder makes a ton of money and the MM ends the day absolutely flat. All the shares they marked "short" during the trading session and now covered. Which is why there is lots of short volume, but no short interest.
Which also means high short volume and no resulting short interest is an almost sure sign of massive dilution.