Rgno and a possible huge short position. Shareholders owning Rgno. Float is 67mn.
Most all shareholders "have not" had their shares exchanged. Most still hold Fcnk shares......3wks now these shares have not been exchanged.
Fcnk had only 5mn total o/s shares.
Our marketcap now is over $4mn- this would mean we would own 2/3 of the 67mn in the float. Leaving approx 22-23mn shares in the market. Very few have had their fcnk exchanged.....Fidelity exchanged on the day the symbol changed.
This exchange is a 1 for 1.
If our marketcap continues to rise to equal the amount of these free trading shares and the remainder of these are bought up these brokers are gonna be short short when the TA releases the remaining new shares for the exchange. Imo something is gonna give here one way or the other.
The brokers are gonna be racing to cover these positions......Maybe the TA won't release them all at once.......interesting to see how this will unfold shareholders holding shares of fcnk will have to replaced first and foremost when the TA releases all the float of Rgno shares only so many of these shares are trading presently. Don't know the count but not enough to cover these fcnk shares obviously.
ST is very reluctant to do anything regarding this issue. I hope they eat their ftd's. We'll see.
For a Bailout, Press 'One', If you're a bank press 1, If a brokerage firm, press or say 2
For a Bailout, Press 'One', If you're a bank press 1, If a brokerage firm, press or say 2
