Phunware Inc (PHUN)

[candeloro]

Stop that short nonsense!

http://shortsqueeze.com/?symbol=phun&submit=Short+Quote%E2%84%A2


Shares Short 171.000
Shares Float 2.9 million

Two weeks ago you were telling everybody on twitter that we had a low float of 144.000 shares.

Source:

2) The public float for Phunware through yesterday was only ~ 144K. It isn’t terribly hard to do basic math, especially in light of 7 digit trading volume over several days. $phun $phunw

— Alan Knitowski ∞/21M (@alanknit) April 4, 2019

The dillution from 144.000 shares to 2.9 million shares is the reason why the stock went down and not the 171k shorted shares.

PHUN did not even get money for the dilluted shares, because thoses shares had to be deliverd cashless.
Most of them had an exercise price (including the costs for the warrents at around 4.50 US$) and that is the reason why there was (is?) selling pressure in every upmove.

This mistake (letting the warrants be exercised cashless for missing the deadline) is not only hurting the investors that bought the shares for IPO price of 10 US$ and those that bought on the way up to 550 US$ but also your investors that sit on a lot of warrants exercisable at 11.50 which are under lockup till June.

From June on another 25 million shares plus 10 million warrants come out of lockup and will
a) dillute the float further
b) put a price cap at around 13-14 US$ where investors that (need to) exercise warrants will book around 20% profit.

You are spreading the typical OTC pump and dump narrative:

Lots of story PR without actual substance.
You do not have to show the 10th video of how in theory the coin could work. It is almost 12 month now that you introduced the coin idea. Get the system working!!

A new customer/commercial cooperation would be nice!

Shorts (175k shares short!!) are blamed for the decline of the price when your own mistake cost a 2.9 million share dillution.