Seelos Therapeutics Inc (SEEL)

[Leonard McKinley]

It is reasonably clear that the shorts are into this one, as usual. One might think that the shorts will soon run out of shares to borrow. However, there is more to it than that. The warrant holders just received 16 million warrants and those warrants are all at or in the money and exercisable. It is entirely possible that they are exercising and selling rather than holding for the long term. Remember that there are 21 million shares effectively outstanding; not just 6 million. It is impossible to know how far the warrant holders might take this puppy down. Maybe there is something that prevents the warrant holders from doing this, but I am not aware of it. Maybe the company will tell us something about this or maybe one of you can tell the board if the shares are still borrowable.