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Monday, December 12, 2011 12:25:22 PM
I've always wondered why the entities that are short on shares aren't desperately gobbling any shares available before the stock reopens and jumps to nickel +.
and here's the explanation:
The entities responsible for the shares are COUNTING on DTC to not EVER unlock this stock so they do not have to worry about it. These "entities" are QUITE confident in the fact that they do not, nor will ever, have to fill these shares because the DTCC has made it possible by making the stock disappear--in a sense. This explains why there is no desperation on their part, in the form of purchasing stocks to cover at this time, and in the past 6ish months.
My opinion--
SFIO is done and gone, but Smokefree will live on with another CUSIP, etc. It is MUCH MUCH easier for Smokefree to reestablish a newer "start over" than it is for them to get DTC to unlock this stock. Clearly, DTC is unwilling to do that because of the mess created by traders earlier, and DTC is giving them a bit of love here. So to sum it up, Smokefree, in order to get some more money will have to completely reopen as a different company (things that happen all the time in OTC land) and SFIO will be dead to all of us.
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