Sarissa Resources Inc (SRSR)

[easymillion]

mtcotc-Adding This Addendum to my Previous Reply

it's the ST (dividend-in kind) shares that will force the shorts to cover. Those with borrowed shares will not receive the dividend and be forced to cover.

Considering Scott's intention to make Shining Tree spin-out NI 43-101, yes a forced cover would ensue. In my previous post I was basically considering only SRSR shareholders, not the MMs themselves who would be putting "electronic counterfeit" borrowed shares into shareholders accounts. No problem for the MMs if the spin-out has little or no value. However, You correctly assessed that it appears Scott is moving rapidly to avoid this scenario by making Shining Tree a reporting NI 43-101 company a priority. The underlying value of Shining Tree would make it highly unprofitable for any MMs to maintain "borrowed" shares created for the spin-out, which would also be short until reconciled and covered.

Sarissa expects that it will accomplish this spin-out by declaring a dividend-in-kind of all the shares of Shining Tree to the shareholders of Sarissa. The spin-out is being implemented as a first step in the Company's continued efforts to enhance shareholder value, which Sarissa is confident can be best accomplished by creating a separate Ontario focused exploration company. Management of Sarissa hopes that Shining Tree would become a Canadian reporting issuer at the time of, or as soon as possible following, the spin-out. The Shining Tree Property consists of 7 contiguous claim groups, approximately 1200 acres, in the Shining Tree gold area of Northern Ontario. In connection with the spin-out a NI 43-101 independent report is currently being prepared on the Shining Tree Property.

I'm beginning to like Scott's plan more and more each day!
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