I think the correct price would be the painted closing price of .4999 multiplied by the 200 to 1 reverse split. If you come up with anything over $99.98, you are incorrect.
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I think Joe is saying think you need to multiply $11 times 200 resulting in a bid of $2200/share for each new share.
If you choose to believe posters that trumpet the Finra daily short report as an actual short, you will soon be holding shares in a worthless stock. Truthful answers to your questions can be found on this board:
DD Support Board and Fraud Research Team