Over 30 million shares have traded since
the HCV IA results were unveiled. I would be very surprised if UU has not unloaded most of their newest shares. The latest short position was declared last Thursday, we'll see it next Tuesday.
UU is not in this for the long haul, though some of their buyers may be. UU is just a facilitator and probably the best that Tustin could do without a warrant cover or a technology give-away. No warrants is key, when TCLN first did a deal with hedgies two classes of warrants were included. By trading against those warrants the hedgies kept manipulating the pps for years. That deal, by the way, was put together by A.G. Edwards so one can see that warrant coverage, commissions, sometimes board representation and tech rights are all just part of how Wall Street 'deals' with its clients.
At this stage I would be furious if Tustin had given out any warrants or a piece of Bavi. It's done now, so good.
As an aside, I think the total amount of cash on hand leaves a $5 pps as the only requirement left for PPHM to graduate from the NASDAQ small cap market.
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