Short sellers know not to mess with this anymore for one reason - it has been tried and the base is built too strongly for it to be broken. It is also obvious the float is nearly locked solid. They know another rise is coming and do not want to risk the possibility of losing at least the amount they would spend in attempts to short, and the possibility of causing a short squeeze that would push it even higher than it will come up anyways.
As far as a new PR goes - today is the Jewish day of Sabbath following Rosh Hashanah. They ran together in a 3 day celebration, and are now supposed to be having their day of rest in Israel (sundown on a Friday to sundown on the following day). Only essential business requirements would be followed, if work is done at all. Especially with the turmoil of recent days and weeks, after the Jewish new year, it would be paramount to keep this holiday to the fullest extent they can. How do I know this? My brother is doing his conversion in Israel and I received a message from him before the holiday ensued (the only reason I did not speak to him' was due to a physical therapy appointment making me miss his call).
The low volume is most likely a combination of the above two factors with the fact it is still a Friday and a slow trading day in general, or characterized by sell offs as day traders and short term players get out before the weekend. I think the lack of sales and low volume, with the decline in short sales should be an indication of the strength this is expected to rise on Monday.
For those confused by the terms of investment - it is not confusing, but actually a much better deal struck than the last financing position of February. It does not allow for the issuance of more shares in the event of a price drop as the last did, and is issued in the form of preferred shares that do not allow for a higher rate of conversion than the amount initially invested in the short term. They also only get dividend payouts equal to common shareholders' and selling off shares entitles the main investor to less control of what happens with his $3 MM that he put in. The full filing, if read all the way through, has every provision put into place to protect the company before the new investors, and sustains a higher level of equality in financial gain between common stock holders and preferred shareholders. It is extremely thorough, because it does appear they learned from the prior deal made that had such dilutive effects, the usage of the financial consulting firm, and I would believe Edery's experience of building networks and companies. There would be no use of Edery ruining the company he just made a substantial investment in, as he would lose money and mar his current reputation if he did. There are also concise statements as to what happens to any personnel directly involved in the company that would ever try to spread false information or publish false PR's, along with insurance against such action. The R/S, to me, shows a lack of will to inflate the float, but rather to maintain it at a lower level and return the price to a more accurate representation of the intrinsic value.
Good luck all DRIO holders, may we not need that much. I still believe that good things are coming soon, to include an increase in shareholder value without the negative terms that many are trying to convince others are imminent.
AI
