Vestiage, Inc. (VEST)

[joeybags]

Rule 1140(b)(2) for dividends or distributions that are 25% or greater of the value of the subject security. The ex-date shall be the first business day following the payable date. For example if an issuer has announced August 10 as the record date and August 31 as the payable date, then the ex-date will be September 1, the first business day after the payable date. September 1 is the day on or after which a buyer would purchase the security without the dividend and, therefore, the day on which the price of the stock is adjusted downward. THE SELLER OF THE SECURITY PRIOR TO SEPTEMBER 1, EVEN THOUGH HOLDER OF RECORD ON THE RECORD DATE TO RECEIVE THE DIVIDEND, WOULD HAVE TO RELINQUISH THE DIVIDEND TO THE BUYER. (NASD NTM 00-54, http://www.nasd.com/web/groups/rules_regs/documents/notice_to_members/nasdw_003997.pdf)

I take this to mean that shorts have until June 1 to cover. If I were them I would wait as late as possible to buy in hopes that the price stays as low as possible. If everyone is looking to sell their dividend right, they know that there will be a lot of sellers on that day. Without buying pressure, more folks here may be willing to sell lower to get out of this play. Stay strong. glta