DNAprint Genomics (DNAG)

[cottonmather]

Longs here contend naked shorting is the culprit of DNAG depreciating share prices. Poo poo. What is the difference in effect between naked shorting and the financial arrangements that DNAG regularly excercises? Absolutely nothing. One shorts without shares to cover their position while the other shorts knowing warrants, pipes, and convertibles cover their positions. Covered shorts outnumber naked shorts in DNAG I'm sure. That is how Dutchess and other financiers make their money. The effects are the same, covered or naked.

Read DNAG financial reports sometime. Dutchess was handed/converted 11,000,000 shares in April alone that can be shorted. That is a separate deal from the September 2004 thing. I'd guess they are making a killing off of this stock.

Imagine what damage to equity is being administered on average when that many converted shares enter in a month. Don't forget the two year contractual conversion totaling up to $35,000,000 in stock. You can see, if conditions are right, and they are, converting and shorting are quite lucrative. Dutchess is not stupid.

I believe one older financier is still eating on this stock until November this year. I forgot which one.