lets just say its 60 cents.. that 60 cent offer would have to be paid to 3 billion shares because the company would have issued shares to allow naked shorts to square their position. who is going to pay $1.8 billion for spongetech???
not going to happen. if the SEC and/or spongetech is bartering a deal with the shorts we get screwed. only justice is to force them to buy those shares back from the market
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