Sunday, June 26, 2022 10:49:33 AM
Even Nile's own trading record shows trading activity at first more than just all out buying. Could have been some luck on their part too. Because the record shows a massive power grab on that very last week. As if they saw an opening and took it. Like a sudden change of mind and decided to go for full control. Tthe stock would often be up 100% by traders, so they were met with massive profit taking perhaps and possibily was a magnet for shorts to come in, which put another way, handing the power to them freely. High supply combined with sneak attack allowed them to just walk in and take control. Caught the company with its pants down so to speak. And now shorts find themselves trapped and squeezed.
That's my interpertation of the data. A lucky and rare alignment of circumstances it seems. Took everybody by surprise, even MICS I bet. Plus, as Eric Nickerson noted when I brought this to his attention, how do they even get 58% when Stingray had 22? When a capital raise was only 4M shares? There seems to be more shares out there that were ever issued to get to such percentages. Which is why I really want to see the latest 10K to get to the truth on that matter. Because it does imply illegal naked short selling on top of all that, which would mean shorts borrowing shares that don't exist. Which puts them more in a squeeze as I understand it. And that would also play into the supply that allowed NILE entrance to majority control.
If you really want to get sinister, one could hypothize NILE was behing some naked short selling to take control of shares that don't even exist. LOL That wouldn't violate the MO of sleaziness and shadiness,, but that's pure grasping at straws with no supporting evidence.
I'm not a securities lawyer, but Nile could have a case. Ault would have his lawyers. He may have a case. I don't know. It sounds logical. Regardless, NILE can call the shots here regardless because they have 58% of the vote. It doesn't really matter because they can just overrule any decisions to dilute. Right?
Either way, no matter what scenario in any of the above micro possibilities, I love the macro conclusion to all of them. Either way, NILE calls the shots here. Bottom line, that's allt hat matters and I like their precense. Sleazy or not, it's good for me! :) Good bargaining chip too. So many things they coudl do. Bribe Stingray. Do they want autonomy back? Pay UP. Shorts? PAY UP. Anyone has any objections, PAY UP! We have everybody by the cahoonies the way I see it.
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