BITNILE bought more on a Form 4 today. But only 2,000 shares. Which means, a lot of volume (comparatively speaking) happened above $8 without BitNile's help at all.
That's even worse for shorts I think. As I noted here at Seeking Alpha:
Wow. What's interesting is that it's only 2,000 shares. They are only a tiny fraction of the low volume. And there was plenty of volume over $8. They could blow the top on this and make shorts cover if they would just buy up another 10% in a furry.
Seems like they should want to make the warrants liquid and exercisable so they can get another $15 million in cash. Which would also pay for all of their out of pocket expenses to even buy this company it seems. I think that exercise price was around $10.50 or maybe $11 if memory serves correct.
Shorts should be worried I think. It seems to me that Ault should go for an extra $15 million here. Give those warrant holders the means and opportunity to exercise. We need a good PR.
Ault, I hope you are listening! $15 milllion would pay for ALL YOUR EXPENSES. And you get to smack the living daylights out of these illegal naked short traders. Maybe make them pay their 70% interest rates in a waiting game, perhaps? I can see that angle too. Mental torture. I like it! Either way. No rush. Just keep it in mind is all if you are reading.
Oh, and IFFFF you are reading, Ault, can you have your team look at NROM pleae? 50-year history with entrenched management. 20 cent stock right up your alley with a $4 million market cap. You could make mince meat of them. Take over 10 company stores that you can't even build out for $4M. EV is less than $10M I think going by memory? 2 franchised units. And then hundreds of little franchised kiosks in convenient stores.
It's a father-son duo with conflict of interests running it like a family operation because they don't have the talent to run a public company. And they are paid like are CEOs of big cap company salaries. Please stick it to them. You are the perfect person to inflict pain and misery on that family and take their business. It wouldn't cost you much relatively speaking. Please have your team look at that. 50 years of brand recognition in Indiana and customers LOVE that pizza. Simple business like the kind Warren Buffett likes. PROFITABLE BUSINESS. Loan with PIK interest comes due in two more years, which is peanuts for you.
Thanks!
