Who knows what the problem is, we will never know until its either fixed or never fixed. I would have hoped if they were short they have had more than enough time to cover either way. the price has been fairly low over that time frame and whole lot of shares have traded hands at these levels. Maybe they are waiting for the rest of the private placement to get inserted into the market place? (I have no clue what nobo or obo is) I'm guessing its what the private placement was?
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