Sphere 3D Corp (ANY)

[JB3729]

You're correct, my mistake. It was a half warrant, not a full one, but that only changes my thesis by 600,000 warrants. The rest of the overhang is there and it doesn't make much difference to the math overall.
Your thesis started with 2,600,000 shares and an equal number of warrants. You were off by 1,350,00 shares and 1,975,000 warrants if math is not an opinion. (thanks otiv, I love that expression)

I haven't seen any information on a Nasdaq application or expected profitability from the company. Do you have access to insider information?
No, I have figured this out for myself!

The acquisition isn't that accretive and shouldn't hit this quarter. Given they haven't announced a first customer, it seems like a big jump to expect revenue, let alone profitability.
Sphere 3D has already PR'd that they have been shipping product since January. Simply read their PR's for current info.

To me, it looks like no one has shorted this here, probably because of the lack of shares to borrow. I have no evidence other than experience, but a good working theory is the shorting is coming from the investor group in Canada with options, warrants and restricted stock that they can use to cover.
As I stated in my previous post, it is common for owners of restricted stock to short against their shares in order to lock in gains that are acceptable to them. When the shares are sold and the shorts are covered, it will be a WASH!