There's an SSR (Short Sale Restriction) on NLST that was triggered yesterday afternoon.
Furthermore and even more important is the terms outlined in the offering...they are terms for a reason...they can't be violated... it's an agreement...agreements bind parties to terms agreed upon.
No shorting, no violation of terms...institutional investors agreed to pay share offering issue price of .45, giving up $10MM and then agreed to no exercising of those shares until after 6 months @ exercise of .655
So simple and clear to see where this is headed in the short term.