Suddenly much-talked about issue: yes or not of the existence and extend of naked short, with lots of misinformation and disinformation from almost all shorts in this board and some seemingly longs working in the business, LOL!
First, Les alleges there are hundreds of millions of naked shorts--you believe it or not;
There are official short numbers: fluctuated in the range of tens of millions to five-seven million. It's of course a peanut;
On the backdrop of the above we know there are uncertain number of warrants which will expire around 2 May, ie this Sunday.
Conveniently, all shorts' arguments of no or few naked shorts in recent days leave the fact below unmentioned:
They, the short have repeatedly said before each financing, the party involved had sold shares in advance knowing they would be given cheaper shares by Linda later in an anticipated deal -- this is a point all, both longs and shorts agree.
This has been going on for years, reflecting on the one hand Linda's desperation and on the other hand shorts' overconfidence that they can safely sell short, get cheaper shares plus warrants, repeating every some time awhile--this is true, we long and short all agree is what has been happening over the years.
Now you see what is in the balance? There will be unspecified large numbers of shares naked after a large number of warrants expire this Saturday, either it is in the range of 10s or 100s million.
The above is fact. Now some speculation regarding Les's number of naked shorts:
Ever heard dark pool? shorts text book? Brokerages and Market Makers exemptions/permanent and unchecked flowing carrying of balance for unaccounted shares? if not, better check these out.
So obviously there are potentially additional large numbers of shares which are either unaccountable or in the process of accounting at any given time, and whether these shares are in the hundreds of millions or tens of millions are uncertain.
I fully understand why of the sudden there have been joint strong arguments telling the board that there are no naked shorted shares and the only short is that small numbers reported.
Naked shorts are invisible enemy with visible posters.
