Fung_derf,
You’ve been around long enough to know that those who ask when “soon” is, are usually the ones who know they’re running out of time.
The window is closing because of something we’ve seen play out before. Volume is drying up, not because there’s no interest, but because long-term investors aren’t selling. What’s left is shorts cannibalizing shorts, carefully managing trades between themselves to keep the price contained, and desperately avoiding triggering margin calls.
But that dynamic only lasts until the inevitable happens:
Investors start to smell the short squeeze coming.
The remaining handful of shorts hold all the massive short positions, which becomes impossible to manage in the face of:
1. News, and
2. A preferred share dividend acting as a backstop, forcing them to cover to deliver that very dividend.
When does the news come? Time will tell. But the Board’s job in the meantime is simple:
Authorize the preferred share dividend, and force shorts to face delivery obligations they can no longer dodge.
For anyone doubting whether this works, look at Overstock. Once they moved forward with their preferred share dividend, shorts were trapped. Jonathan Johnson (Overstock’s former general counsel and later CEO) worked with Van Cott Bagley Cornwall & McCarthy, and their strategy worked. Shorts were forced to cover, because you can’t manufacture a preferred dividend out of thin air.
It’s no different here. The blueprint exists. And it’s unfolding right in front of you.
Choose your side wisely.
— Krombacher
AI
Market Data 
Markets 
