OncoSec Medical Inc (ONCSQ)

[jbem777]

Another thought I had this morning. IMO the purchaser (s) of the direct offering already had an agreement in place with ONCS to purchase shares when the S3 was initially filed. I think there was an established date given and the price calculation would be -10% +/- the share price on that date. In the last 2 months, ONCS has been on a PR binge, releasing the number of conferences they were going to present at, Dr. Pierce taking a dump, anything and everything they could think of. They were doing this to inflate the share price and and negate the impact of the offering.

During this period, there was also an excessive short volume and the price was tightly controlled. Many times we complained about the blatant manipulation of share price and the tight trading range.

I believe that during this period, the purchaser(s) utilized the MM's to artificially control the share price, via naked shorting, preventing ONCS from moving. This would provide them a greater number of shares at a discounted price. On the other hand, ONCS was doing all it could to push the share price up.

Once the offering was complete, there was a significant number of shorted shares that needed to be covered. What we are seeing right now is the price being systematically driven down to gather these shares. If you notice, almost every morning we open green, only for a few seconds, only to be driven down quickly followed by a recover (short covering). The rest of the day, we trade in a tight range. Since the offering, it has been wash, rinse, repeat.

Hopefully they will be done soon. But remember, it is these guy's job to make money and they are very good at it. They didn't buy in at $.71 to watch the stock sink. They are making money on the way down, covering their short shares and will be making money on the way up once they cover.