Well, well, it looks like the ...
naked short sellers have gotten themselves into a bit of a bind. MIMV has been on the Reg SHO Threshold List since 5-28-13 which happens when there has been a failure to deliver at least 380,000 shares [in Mimvi`s case] which now means they have until 6-7-13 to cover, or face a forced buy-in by the brokers/dealers.
So, my guess is that`s why we have been seeing those 100,000 - 200,000 share bids mostly at $.12 over the past several days. Unfortunately, it appears that current shareholders have been accommodating them by giving up their shares on the bid.
Apparently, these short sellers anticipated the share price going below $.12 and since it hasn`t, are trying to close out their position without taking any loss, and before the mandatory buy-in ... the broker/dealers would buy the shares at most any price as that really doesn`t concern them ... they will just charge the short sellers` accounts with whatever they have to pay.
This should be interesting to watch as I just can`t imagine why anybody would sell MIMV short with the share price way down here !!??!!
All just my humble opinion, of course.
