Again, I must ask you to stop putting words in my mouth.
You said,
"This nonsense ranks right up there with the idea that shorts who shorted anywhere from $98.90 to $.14 would hand onto their short positions"
Where did I say shorts held onto their short positions from $98.90 to $.14???
The stock traded at $.0003 before it went on the greys... in fact it went as high as $.002, if I recall before going on the greys.
You may be confusing the "typical" Canadian short seller who was unaware that not filing with the SEC would result in suspension and then revocation, with the brilliant (but now eggplant) Canadian short sellers who knew that not filing would result in revocation.
That special breed of Canadian short seller doesn't care about a stock's fundamentals and does not typically follow the stock for years at all. They just follow a simple formula:
Did the company stop filing?
If yes, then short the crap out of it even if it's a billion shares to short at a price of $.0003, because revocation almost always results in a zero share price (except ERHC doesn't fit this formula).
If no, then move on to the next stock's and see if it has stopped filing and short the crap out of it.
And so on.
If a short shorts a billion shares of ERHC prior to the greys at $.0003, then that's a cool $300,000 profit with hardly any work if the threat of revocation sends the stock to zero as investors run in fear.
Except that didn't happen with Erhc. The once brilliant shorts who shorted Erhc, despite warnings from Day 1, later would realize that the investors of erhc know what they got and aren't selling.
So all they have at their disposal is silly "short against the box" tactics.
So eggplant of them.
