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Wednesday, January 08, 2014 10:59:16 PM
Read Van's messages and it will not be hard to figure out what Steve is doing:
1. Van: "DSNY will only have to trade at $3 for five days.
The ratio up to 1 for 5 was a very smart move.
Everyone is assuming the naked short is at 5m shares.
The financing deal was for a proposed $35m.
When a financing deal is set to go, the banker will typically short an amount of shares that leaves little risk for them."
2. Van: "Notwithstanding approval of the Reverse Split by the stockholders, the Board of Directors, in their sole discretion, may abandon the Reverse Split without further approval, action by, or prior notice to stockholders."
Meaning a vote of the SH for RS...makes it virtually impossible for Short to drive down share, what would be approx $9.00 to $3.00.
Secondly, even with approval....board does not have to RS. They can call it off.
WHY WOULD THEY CALL IF OFF?....where do you think the price of DSNY will be once RS approved?...more than $3 or less than $3? If everyone is anticipating a mother load short squeeze (perhaps exceeding the number of share issued...possibly over 50M short)...are they going to be bidding up the stock as they rush for the gold rush...or just sitting there? My guess is that sometime during the "Notice, Meeting and Vote" for the RS...we will be over $3 for 5 days and actually executing a RS split will no longer be necessary...
Add a significant announcement re: Clipstream adoption and revenue....for a cherry on top of the cream. Bingo...Nasdaq without a RS.
Recent DSNY News
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- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 11/28/2023 11:01:54 AM
- Form 5 - Annual statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/13/2023 12:08:34 AM
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