Joh64 MMs have not had to naked short this stock since prior to the last shareholder vote and they only naked shorted then BECAUSE THEY KNEW FROM THE LENDER THAT 2.5 BILLION SHARES WERE COMING ACCESSIBLE.
Very different situation now since the 10B AS covers outstanding warrants that will not be executed unless PPS is favorable for the lenders. The concern though is going to be the shares SABBY still holds which will almost certainly be dumped into the market. Have to take a good look at filings to see if any is preferred and convertible to determine exactly how many shares can enter the market and when that will happen. Need to look for follow on financing by Sabby as well since it would be under the same toxic note conditions and they do have a first right of refusal for a percentage of the financing. Very important to note that until the effective date of the AS and/or RS that no shares are available for these purposes. If MMs feel the risk/reward., i.e., demand/supply is worth the naked shorting risks then they will probably begin naked shorting once again on high volume just like they did last time. Just needs a little research to find out what is going to occur. Hopefully the MMs will decide it is better to now support PPS and then later use the market for new retail absorption. If so RNVA shares cold easily gap up. It will be interesting to watch since really understanding the MM business model dynamics is key to making good shareholder strategies.
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