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Friday, April 30, 2010 11:45:58 AM
extension is a necessity to keep the sale in progress until the buyer either rejects the request to extend the sale or the sale concludes with the company being acquired.
To me this means, since today was the last day, they are implying that the sale could conclude today. It that happened, and there are over 300 mil shares shorted, doesnt that mean that the new buyer would have over $3 million of shorters money, to pay to those who are actually shareholders??
I think the buyer has been buying shares on the open market and I think that the buyer already owns most of the company. If there are only 700 million or so that they actually have to pay .01 for, thats $7 million. But since about 1/2 of that would be from shorts, the actual amount they would pay out is just over $3 mil.
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