What I get for reading in my phone. I see “caused” not “because”. My mistake.
But who wouldn’t be authorized? What are they talking about?
And have you not read the prospectus for the share issuances coming from the company it self?
Those receiving the issued shares were allowed to short, or even naked short under the SPA.
Yet another example of their claim contradicting their own agreements with the financiers.
And it’s no wonder the short volume was higher. His financiers were shorting against the box in the issuances. And 55% is not unusual for a penny stock especially when it is being heavily diluted as riskless principle is used for many of the transactions.
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