Rubberworm -- I think it's a great summary. Surprise6 gives the appearance of being pretty close to the action. The main portion of this summary was written a few weeks ago, although I think he may have revised parts of it more recently. In any case, the proxy vote has been completed and the recap plan is going forward.
The interesting thing (to me) was that the share price actually went down a nickel or so when the recap was approved (it was around 45 cents at the time). But since then, it has risen to as high as $1.31, suggesting that a squeeze might really be happening.
Personally, I agree with Surprise6 that JNOT isn't worth more than 40 cents on its own merits, and I am not inclined to buy a company that I think is overvalued just because of an alleged short squeeze -- I'll leave that to the MoMo players.
But I do follow JNOT because of the possible implications for NPCT. If MV is anywhere near as deeply short JNOT as Surprise6 claims, and also shorts NPCT, he might be expected to increase his short position in NPCT whenever he needs more cash to avoid margin calls, putting short term pressure on NPCT. There have been two occasions when I felt that the trading was consistent with this possibility, the latest being Friday March 15th. But in the long run, if he goes completely under, his accounts would be closed against his will, and the MM's and clearinghouses could be forced to cover his short positions. At that point, our share price could get a boost.
Before anybody points this out, I am well aware of the fact that this could all be somebody's fantasy, Mark Valentine might not be short JNOT or NPCT, and the JNOT share price could have run up solely on hype and MM manipulation. I don't think anybody really knows, it's just an interesting game to watch and one which could have implications for NPCT -- I'm not saying that it does, though.
Best regards,
Geoff
