The Golden Lounge

[Mr. Bill]

IMO yes, but different in ways. With GLKCE the squeeze was not near as bad because the short position was not nearly as bad. Here, the short position is so severe that the DUE BILLS cannot reasonably be covered. The OS is 33M and the auth is/was 100M. Registered stock is 100M or less unless one assumes the SEC is going to allow the new shares the company is trying to authorize. Even if the company can get those shares registered it is not clear how they could be used to cover a short position on the due bills as those shares were authorized after the due bills were due (and hence I do not believe could be used to cover the due bills).

Bottom line, many of us are owed BILLIONS of due bills in stock but the OS is only 33M. This is the gist of the problem. The SHORT position is so SEVERE it cannot theoretically be covered. Period.