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Sure is, 8K out A/S maxed out
Yes I agree. That was one of my points that I was trying to make.
The question that might be going through people's minds right now could be since GBSN's twin AEZ$ dumped out today will GBSN do the same tomorrow. Well the market will speak and then we will know but there are some differences now.
First from bottom pps to pre-market peak today AEZ$ went up almost 300% (from 5 cents to 19 cents). GBSN including the after hours is up about 70% from bottom pps (just under 5 cents to 8 cents). It would seem that perhaps GBSN should still have plenty of juice, heck the RSI is still 12.
Second, GBSN warrants should be pretty much locked up soon as the authorized should be starting to get close to being maxed. Which at that time GBSN will implement a 90 day grace period. AEZ$ however does not have that situation. For AEZ$ shorts/converters can still use warrant conversions to cover their back. With GBSN there is soon going to be a finite amount and then no more conversions for awhile.
Because of these two things I think GBSN will act differently from its twin but we'll all have to see what the market says tomorrow. In any case it should be a wild day.
If it was an average conversion day in relation to the past then that would be about right. If that is the case, I would say it is maybe around 140 million or so.
Going through each 8k since the 25th, I calculated percent of dilution volume in relation to total volme and it was 33.75%. Some periods of respective 8Ks were as high as 50% and some as low as 20% but the overall average was what Lowman thought it was 1/3rd.
Yea lol, most likely so.
Exactly! And if they don't like it I guess they can take GBSN to court. I bet that would take longer then the 90 day grace period that GBSN wants anyway, get what I'm saying.
I personally do not read it that way. Then again I am not a lawyer and that is a lot of lawyer talk and as best as I can try to understand it to me it comes out blah blah blah 2/3rds of warrant holders. To me it is referencing the percent of warrant holders that agreed and accepted. Not like they really have a choice though. If the company will not issue shares once A/S are maxed what can warrant holders do? Nothing except go to court if they don't like it which would probably take longer then the 90 day period the company wants anyway.
Now if the way you read it is correct then that is even better. As you said if it will be capped at 133.4 mil then we are probably close if not there which would mean no more.
If however it is how I read it then that is fine too. The reasons are first that before warrant holders could short with absolutely no risk knowing they have millions of warrants backing them to cover with. Even if they have another 70 million or so shares that they can still be issued they are not going to short with them because now there would be risk. Once those shares were done then there would be nothing coming in to cover with any more.
Second warrant holders will really want that A/S increase. The company has to get shareholder approval. Shareholders get to vote. Warrant holders need to be actually holding shares to vote with. If they go dumping them out then they also dump away their vote. They are going to need to hold on to some shares because they need the votes.
This plan by the company (which I'm sure came from their consultant) is brilliant. If you sit there and think about every angle at which could be played by warrant holders, every path basically leads to that they have to kind of go long for at least the intermediate term.
Final thing I have to say is this. Why would 2/3rds of warrant holders agree to this? First like I said they can't force the company to issue shares beyond 200 million and the company has said that once that is maxed they will start the 90 day clock so really there is nothing warrant holders can do. What else can they do but "accept" it. Second I am pretty sure a majority of warrant holders are MMs. To be honest GBSN had gotten down to 5 cents. As I have said before the way the most money can be made is by working both directions.
Basically a bunch of blah blah blah to say percentage of warrant holders.
You got that right Lowman. That PR was huge. The middle finger was introduced. We can surely assume that GBSN did not come up with this. It definitely was the GBSN recently hired consultants. We had thought there might be a one month reprieve from once A/S got maxed. We were wrong. It going to be 90 days, about time they fought back some.
"Pursuant to the Amendment Agreement, upon the occurrence of the first Authorized Share Failure, the Company will provide written notice to each holder of Series C Warrants exercising a Series C Warrant on the first date that an Authorized Share Failure has occurred that the initial Grace Period has commenced and, as contemplated by the terms of the Series C Warrants, the Company has 90 days to obtain the Stockholder Approval. During such initial Grace Period, the Company will not be accepting any exercise notices with respect to the Series C Warrants and the holders of the Series C Warrants shall have no right to receive shares of Common Stock or cash payments with respect to exercises of the Series C Warrants during such Grace Period."
Those plays are good plays but finesse, discretion, and caution need to be used with them. Something can get pinched but that doesn't mean it has bottomed. Something can get really pinched but that still does not mean that it has bottomed. There is no one set rule. Some think as soon as they see a pinch form they can go for it but just because one has formed doesn't mean it can't still go further down. Many times and often they continue the downtrend.
Analyzing the situation at hand and what the severity is, is important. One could have bought GBSN two weeks ago because "it was pinched" and they would have gone red in a big way. Fundamental factors and the severity of them must be considered in order to then try and make something useable out of the chart. Several other chart indicators also should be incorporated to help with that particular play.
Good luck to you and best wishes.
Yes, in the post I made last Wednesday I was trying to explain that the chart could still be used. There was somewhat of a thought that the chart could not be used because of such extreme dilution. I thought it still could be used but skewed to the extreme because of the situation.
Technically ADX at 30 is considered high or a pretty strong trend. What I had concluded was because of the extreme situation, that to use indicators, one would need to skew them to the extreme. The RSI was already there at the time at 10. I had concluded that because of the extreme situation the chart would need to get to the extreme. With the RSI already at an extreme, I thought the ADX would need to get to the extreme as well and is why I said 60.
It sure is fun when you get it right. This was my GBSN prediction on September 16th posted on this board:
"The ADX line needs to come up to 60 which is extreme. Once ADX is in the 60s with RSI at 10 I think a 50-100% bounce happens."
As far as the GBSN twin AEZ$ over the weekend I predicted:
"It went through a complete Elliot impulse wave on Friday. That means a correction wave should hit it."
Yes it is doing that. Will it hold 5 cents or not, I'm not sure. My calculations are that it isn't ready yet. Still more volume to go. As that volume chugs out does it hold 5 cents or does it dip more. I don't know that.
Ah smart man. If you did then you found the estimate. Yes the key word is volume. The estimation is totally dependent on that.
GBSN most likely will follow but it will probably be a window of time before it does. I know AEZS very well. I own shares. I got interested in it back in August. I dug in and did the research and went through the quarterly and filings. I bought AEZS two weeks ago and then more last week. I have posted on that board a couple of times.
You are right that AEZS warrant info "hides deep" but there is some useable info. I have used that info and made calculations. I am telling you that up and down the similarities between AEZS and GBSN are there. You just have to dig on the AEZS side. GBSN side is much easier because management gives out warrant info routinely. There is one key filing on the AEZS side that will give you what you need. From there you can start to make calculations and compare. I am not going to give out on a public forum though exactly what it all comes out to. Others need to do their homework. I will say it is there and can be found and can be calculated. It took me about 4 hours total.
As far as our stock on Monday here is what I think. It went through a complete Elliot impulse wave on Friday. That means a correction wave should hit it. I am not a day trader or anything like that. I have a full time job so I don't really have time for that, but if someone does have the time a good play might be to sell pre market or at open then buy back on a decent dip. After that correction wave hits I bet another upward impulse wave comes. If one doesn't have time then just ride it out because I agree with you that it goes higher.
Remember one thing in all of this. Making money is good. Making more money is better. The best way to make the most money possible and max it out is to play both directions, always. Remember that and know that MMs will always play both directions. No matter what the situation or type of stock or whatever.
See what you said in this quote
"a bio-pharm stock price will easily decease 90% when it is in downtrend, but it also will easily increase 900% when it is in uptrend."
Now why do you think that happens? Answer = MORE MONEY!!!
Don't kid yourself. GBSN is very much like AEZS. AEZS had no new news. Phase 3 has been known for awhile now. It didn't stop the pps of AEZS to drop pretty much everyday from 20 cents down to 5 cents. Just like GBSN, AEZS has cashless warrants. Same kind of warrants, same kind of equation used, same toxic death spiral.
GBSN warrant holders have been a little more aggressive then with AEZS but the difference isn't very much really. Both have had their share structures balloon.
Somehow (probably warrant holders chose to) conversions there slowed some and cooled off. There are still a ton of cashless warrants AEZS has though. Warrant holders let AEZS fly because they have their reasons and I know why they did it. The cashless warrants are not done over there though. There is no new news over there and AEZS is totally controlled by the warrant holders just as GBSN is. The two are very similar.
I don't own any GBSN shares but I keep it on watch. What happened with AEZS can certainly happen with GBSN. GBSN will do whatever warrant holders want it to do and will do it whenever they want to do it. Just like with AEZS.
Yea I bought back in near the close. The stock closed red but I didn't really. Bought at about the 52 week low. It wasn't a whole lot either. I'm a big boy and I will take my chances.
FYI, every extreme pinch stock is an "extreme situation" AEZS was extreme because of massive cashless warrants. That is always the line I hear when I see a stock in an extreme unnatural pinch. There is always a reason and many times justified but the pinch at some point always gets relieved.
Last month there was a bankrupt stock I played, ANRZQ had already filed bankruptcy. It was pinched hard and was in an unnatural state. It got a big pop, relieved the pinch. That stock is bankrupt. Shareholders will be wiped out. It did not matter the pinch after awhile had to get relieved.
I play these all the time and have for years. I know what is eventually going to happen. It is inevitable, it can not be stopped. Delayed yes, stopped no.
Good luck to you as well, I enjoyed the conversation. Have a good weekend.
Yea, I have heard posters say that about you as far as stocks going down after you make a video. I pay it no mind. Just recently there were some stocks I was in that you were making videos about and they shot up no problem. Eventure was one. The whole time you posted videos there it went up.
AEZS went up today simply because of a squeeze. Shorts had piled into this because of the cashless warrants. After awhile the downtrend became unnatural as certain chart indicators revealed that. Downtrends and uptrends are a natural part of the market but they can go to the extreme and become unnatural. It then stayed unnatural for about two months. Then add to that AEZS started showing up on REGsho lists. Shorts were just piled into this and eventually got over extended. Squeeze happens eventually and the stock rockets.
I wish for you to listen very carefully to me for a second. I think you are sincere but I want to go over a few things. First 514 is correct. Play the chart. You have to know what the chart is saying though. Understand that the ADX line has been up in the 60s for awhile now. Many don't even know what the ADX line is. It is strength of trend. You can study it yourself but the bottom line is that ADX in the 60s is to the very extreme. The downtrend even with the issues the company has been facing is unnatural. It is overly done and that is what the chart shows.
Shorts are deep in this. There is no myth. Again if one knows what to look at it is easily seen on the chart. Also SFXE has been on the REGsho list for awhile. REGsho lists are useful to show that there are failures to deliver and/or the SEC has put in a floor at which a security can not be shorted under. When a stock shows up on a REGsho list then that means they are really deep in that stock.
Some might say well the smart money knows what's up and if they are shorting then this thing must be toast. The problem is that by looking at the breadcrumbs being certain indicators on the chart and the REGsho list it becomes clear that shorts are over extended. The chart condition of SFXE is currently really unnatural, even if one thinks it is a POS the chart conditions are still unnatural. It can not stay in that condition. At some point it will break out.
SFXE is pinched hard and has been. The pinch will get relieved. I can almost promise it will get relieved. A pop to the 20dma does not relieve it. That isn't enough. It will allow for the ADX to come down some but not enough. I had figured that shorts might go ahead and let SFXE go. I figured it could get to the 32dma which would relieve the pinch and end the unnatural state of the chart. They did not allow it to go. Instead it looks like they dug in deeper. Well if that's what they want to do then they can but I know that the pinch must get relieved and it will get relieved, especially such a hard pinch. They can only delay. They can not stop it. The longer they keep it in an unnatural condition then possibly the more violent the upswing may be.
I'll even give an example. Have a look at AEZS. Many people think that is a POS. It even has horrendous cashless warrants. That one started a downtrend months ago. By the end of July it became unnatural. In the middle of August there was a pop that barely broke the 20dma. Shorts then just dug in more. They didn't let it go any higher. Well that wasn't good enough to relieve the pinch. The downtrend then continued and the stock stayed pinched. Then it started to show up on REGsho lists. Fast forward to today. The stock went nuts today. No new news really. The pinch finally is getting relieved. That is what is happening. That is why it went nuts. As I said they can delay a pinch getting relieved but they can not stop it. It always happens.
I got stopped out of SFXE today at 60 cents. Before the close though I bought some shares back. I don't know if it will be next week or next month or whatever. What I know is that SFXE's downtrend condition is so severe that the chart is in an unnatural state. I know this can not last. The SFXE pinch at some point will get relieved and a violent move upward will occur. I would recommend that you keep you eyes on SFXE. I'm not saying you need to buy it, but keep your eyes on it and down the road when this goes nuts to the upside look back and remember what I have said on this post.
Yes, isn't that nice :) If it breaks that 20 (and I really think it will) then that is where this baby is going. That or either the upper bolli but even that is 1.13
Me 3, I'll see you guys back here in about 1 to 3 weeks. When ready it should have a nice run. For now though just going to have to sit back and wait and let the toxic dealers do what they do.
Yes very nice news. Shorts were wishing for bankruptcy news. They are deep in this. Last I saw SFXE was on the REGsho short circuit breaker list. It has been on that list for awhile. ADX line is way up there. Shorts have been putting out bankruptcy chatter for awhile now. With the news today that now flies out the window. Also SFXE has a big event this weekend. We didn't break the 20dma today and I didn't expect that we would. We will though. My eyes are set on the 32dma for now. I feel confident we hit the 32 dma in 3 to 5 days. The pinch isn't even relieved yet. Has to move up well past the 20dma to get relieved. I doubt this stays pinched so up we go.
I don't think it is ready yet 514. Maybe a small bounce sure but you know what I play for. I said last week on here it wasn't ready yet. I still do not think it is yet but it is closer.
You are the second person today that has said that to me. I will take the advice.
I have a caveat for those who have the time to be able to do it. One could make 10% here daily pretty easy. I have a full time job and can't watch this all day. For those who can, there is easy money to be made here daily.
As far as a spike that is what I'll be looking to get. One will happen just like others in the past that went through this process. I believe there will be good pops/bounces here and there. The big spike (500-1000%) I think maybe 6-8 weeks out from now.
I'll keep it on watch and if something looks like it is cooking before then it will be easily seen and then I will grab some for the typical 3-5 day run.
I do think kind of soon there will be a decent sized bounce, a 50-100% one. Even with extreme dilution charts can still be used. One just has to skew the chart to the extreme as well. RSI is already extreme at 10. That isn't good enough though with this situation.
The ADX line needs to come up to 60 which is extreme. Once ADX is in the 60s with RSI at 10 I think a 50-100% bounce happens. ADX has been taken awhile to move up but now it is getting close. Last I looked it was about 56. Most likely I will buy some shares once I see ADX break 60 and see if I can't get that bounce. After that I'll put it back on watch and keep my eyes open for that spike that will happen down the road. Which again is likely to happen near end of warrant conversions.
Best wishes to you and take care.
I am almost certain that they will play it both ways. They will play both directions. They will follow the path of least resistance. Once one direction starts getting real resistance then they will flip and go the other. With the news today the company seems to want to increase A/S sooner rather then later. I thought they might drag their feet some. They are not and are playing right into the shorts/warrant holders hands. The meat on the bone had been mostly chewed off. If the company dragged their feet and takes their time to increase authorized shares then the path of least resistance would have become the upside. They seem to want to do it soon so now more meat gets put on the bone for the downside again without even allowing for any real pps recovery. This management doesn't seem to get at all how the market works. They should wait and drag their feet for these things and force upward. That movement would have then put meat back on the bone again for the downside. The warrant holders would have played along. They would want that meat back on the bone. With the company seeming to want to do those things soon that puts the meat right back on the bone again without any need to have an upside. Now if this gets followed through with rather soon warrant holders will continue chewing the meat on the downside. Once warrants are probably 90% or close to done then they will go long with that last bit and then we'll have that big spike here. They all do it. I've seen it a lot. The company though could have forced one by not trying to put the downside meat back on the bone so quickly. A lot of times there will be two spikes in these. One kind of in the middle of conversions and one at the near end. Again the one at the middle is to put meat back on the bone. This doesn't need to happen now because the company seems as though they are rushing to accommodate the warrant holders. Doing that takes away the possibility of a spike half way through conversions so now I think there will only be one spike and at the near end of conversions. I bought more this morning in the 5s, brought my cost basis down to .062 and then sold on the pop. I made a total of 20 bucks lol. I will keep this on watch and I will re-enter down the road, but now I see now future spike until near end of warrants. It could have been able to get one rather soon but the company just doesn't know what they are doing and doesn't know the market at all.
I don't know about him but I am. It seems to have settled out nicely for now. I'm holding a small position. Could have a very nice bounce.
Why would they do that? The answer is money. If they go both directions they make more money then if they go only one. Also, they could do a couple of round trips back and forth making money each time each way. That equals more money then just one one way trip. That's why. Why short at 7 cents when maybe if the pps recovered to 30 cents you can short there again. Is more money made shorting at 30 cents or 7 cents? Long story short I would follow the Elliot wave if I were them and do two complete cycles of it. That's me though. If they want to settle for less money then they will just keep going in one direction. If they rather make more money then they will go both directions and do it several times. Up to them.
I have been trying to tell that here for a week. That shorts/warrant holders sell first and convert later. They started even before the units were freed up, before Aug 25th. The chart shows it. They sell naked, then later convert and then deliver the shares. When I have tried to say this some would interpret that there would be a squeeze, but I never said that. I was just explaining of what I thought shorts were doing.
This is not just on the threshold list now but also the short circuit breaker list. That list means regulators have put in a floor that GBSN isn't supposed to be shorted under. What that floor is though is not known to the public. People are really upset and not just at the company anymore. I see a lot of anger now directed at the shorts because the manipulation is pretty clear and obvious. People like to complain and I'm sure that they are. GBSN shorts are starting to catch eyes on them with what they are doing here. Shorts don't like that. They think they are some sort of secret society. There are a lot of people trying to deny that shorting is even happening here. That is ridiculous. I have no idea why they try to deny it. Shorting is part of the market. It is what it is. I do think shorts will give it a rest for a little while fairly soon. Not because of a threat of a squeeze but because what happened here is obvious and if they continue without at least some movement up for just a little bit then it could bring scrutiny from the SEC. Then again they could care less and keep on going. Also I think at this point in time they have chewed off most of the meat off the bone. I mean yes there is still 7 cents there to work with but if it were me I'd give it a good bounce to 20 or 30 cents. Have shares that were converted at 7,8,9 cents and sell at 20,30 cents. Then at 20,30 cents now there is room again on the downside. These guys are smart. There is more to be made going both directions then there is only one direction so yea I believe GBSN gets a pop at some point before the warrants are done. Then once the warrants are done another one. I think the first pop will happen once the E preferred shares are done. Final thing is that it would take a month to get either a A/S increase or R/S done. The warrant holders can't push that through and make it happen sooner. One would get done but they won't be able to rush it through. With those preferreds they had huge voting rights but they have sold almost all of those preferreds. Shareholders vote. They need enough shares to vote and it certainly seems they have done way more selling then holding. I nibbled and bought shares yesterday after watching this for a couple of weeks and then bought more this morning and right now am green, barely.
FYI Drugdoctor, that stock was also on the REGsho short circuit breaker list. You are right. That one and this one do have many similarities.
I agree with you, I have been watching GBSN for several weeks now and finally today I bought some. I did so for the following reasons.
1) As of today, last Thursday it hit its lowest low. It has not made a new lower low since. Back when this was in the 16 cent range it held there for awhile but it still squeaked out lower lows daily at that time. In this range it has not made a lower low yet.
2) Shorts/warrant holders I strongly suspect were selling first ahead of converting and then converting later. This is seen in the chart as the pps plummeted from 2.50 to the 30 cent range BEFORE Aug the 25th. This is significant because the units were not freed up until Aug 25th. The pps crashed before dilution even came to market. That can only happen if warrant holders were selling before even having shares. If that is true then a chunk of the outstanding warrants, even if still outstanding, have been used/sold already.
3) GBSN is on the REGsho threshold list. Sellers are not meeting their obligations here. There are significant failures to deliver. Again, probably because they sell shares first before they have even converted.
4) GBSN is also on the REGsho circuit breaker list. Regulators have put in a floor that shorts can not short GBSN below.
This is all about probabilities. I personally believe that the probability as of right now is that there is a greater chance for a bounce then not. Good luck here, this will be a wild one!
And then there are others like myself that don't post a ton.
Amazing, a lot of the time I find a prospect and I have a look at the MB and either you are already there or show up right after. We must look for very similar things or something. I didn't think this one was quite ready yet but hey might as well go with the flow.
I have been here for a couple of months now. I have done very well with EVTI. I feel I should say something. All views are needed and welcomed. There are good points that can be made. For the folks that might be somewhat new here I would encourage that all views be looked at/considered. Now having said that the posters that are, well I'll call them cynical, were actively and confidently posting many times a day suggesting to others not to touch this stock when it was down at 0011/0012/0013/0014/0015. That is a shame. I have been trading penny stocks for quite awhile and I absolutely knew this was low hanging fruit. Anyone that knows anything and is honest frankly knew that EVTI was low hanging fruit. I hate to think that some folks might have missed out on such an opportunity, and on such an easy play. Just like people who are overly aggressive on the positive side can be a little dangerous, the same can be said for the other side. I would like to remind everyone to keep that in mind, to study and research, do good DD, and know the chart and execute. Best wishes to all and enjoy the weekend.
Haha, lets DO IT 514!
FYI, that is the exact type of PR I suggested to him back when I went over things in early August. WHEN THE TIME WAS RIGHT. He did a positive authorized share one back a couple of weeks ago and it popped but it wasn't the right time (it was still crappy August), so it didn't last. If something similar gets put out again, now, oh boy. Take care my friend. Look out for a PM. There is another ticker I wanted to discuss with you.
Yes the share structure certainly gives the opportunity that could allow for it. 514 has had his radar here for a bit. I have been messing around here since July and he is the one that had me take a look at the ticker back then. I think he is correct about what he says and my thoughts and reasoning about it were just posted on my last post. I have a lot of respect for you and 514 and it gives me a smile knowing that both you and he are here and seeing things similar to what I see. I wish the best to both of you.
Agree, if he took to heart what I went over with him in early August then I would say the chances of a PR next week are good. That is what I would do. I have no idea what he will do. If it were me there would be a very nice update of some sort that came out AFTER open (maybe 10am eastern) Monday or Tuesday. The reason I would put one out just after open is that when PRs are put out before open it can cause gap ups and I hate those. They rarely hold. If done just after open though then there won't be a gap up and that IMO is the way to do it.
I think I will start a new career where I become a consultant to OTC penny stock companies lol, just kidding but it's a thought.
Hey chance, yea the share structure numbers are still pretty good here. The authorized is 1 billion. The Outstanding is about 305 million as of two weeks ago. The float on OTC website isn't correct. Probably much closer to the outstanding amount. Since the outstanding is a couple of weeks old I know that isn't as of now information but I really do not believe it has changed much. In the past weeks I have not seen BKRT/VFIN/VNDM dumping or even active on the ask. BMAK has been there but he really has not been doing much of anything there the past weeks. Usually just has his thumb up his butt. Been like that since mid August. Every time EVTI gets decent volume the pps goes up and BMAK gets shoved pretty easy. Best as I can tell the naughty MMs besides BMAK have had nothing and BMAK has little if any really. Also from filings it seems to me that there was a note that was going to be coming due real soon. EVTI seems to have made arrangements with different lenders and those notes have been taken care of and pushed back to next year. I suspect that EVTI pulled an okie doke on the conversion MMs. They thought more notes were going to be coming in soon, oops change of plans. I'm in this for a few million at avg 0013. I am still holding. Indicators looking good to me still. Unless indicators change I'll keep riding. +- DI on ADX crossed bullish. PPS has maintained and held over the upper bolli, ask stays pretty thin, bid support stays decent, RSI is trying to reach momo zone, MACD/PPO look fine, all is pretty much well. Only indicator that gives me a little pause is the fast stochastic. I think there is honestly a good shot at the 50dma. Sorry, it took awhile to reply back. First time on IHUB all day, be well my friend.
Sup Chance? Yes looks better now then it did then. I think that has a lot to do with the time of year. OTC+August=usually sucks.
Welcome aboard. You bought at the 20dma on the dip? Smart man.
Rainmaker, I believe you are correct. The A/S increase could get them boxed in for a period of time. They could force it through quickly with the E preferred shares they had but they converted and sold most of them, so they lost their voting rights with those. The warrants do not give them voting rights until they convert. I have suspected that they are selling before they even convert into shares (selling naked and then converting and then delivering the shares). With them only now having a fraction of the preferred they once had they do not control a vote I doubt. The catch 22 for the warrant holders is that they have been making huge money on the downside shorting, then converting, then delivering. To make this most effective one would sell the preferred first to hammer down the pps and hold on to the warrants more so. This would be done because they get 4 shares per preffered period no matter what the pps. The warrants though they get more and more shares as the pps goes down. The catch 22 though is that by doing it that way they give up voting power etc because they pretty much have sold it. If now they continue on at the pace they are on and there are continuations of 30 40 50 million volume days then the Authorized will get maxed out in a week or two. If they don't hold shares and only have warrants left I don't think they have voting power. An A/S increase would still happen because it has to but as you say things take time. With shares scattered everywhere it takes some time. If they had kept those preferred though then they could have gotten a raise no problem and quickly but as I said they sold and with selling they gave up that power. As things proceed they will have to start to be a little more cautious I think because they are not really going to have complete control over an A/S increase and when it will be done. They could have had that power but they gave that power up to make big money on the downside. I would say a smart trade off but it might get them boxed in for a period of time once the A/S approaches full issuance. Then they might be stuck there unable to convert for 4,6,8 weeks, who knows. Things can take time to process.