A 19000% increase is meaningless given the inconsequential short position.
Screaming !19000% shorted! is either naive or dishonest, or a little of both.
It's another data point showing why the deal is not likely to happen as described. The short position stands to make about $5K if the stock goes to zero. If the deal goes through at .49/share, the short position loses about $50K.
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