Unlike pinksheets and the OTCBB, bigger boards do not have MMs. They have 'Specialists'.
Wilshire will be acting the part of the 'Specialist', atleast for the time being, but probably for good.
Though I cannot accurately describe all the functions and role of the specialist, my understanding to date is that Wilshire will be the 'formal accountant' of the HMGP shares.
Understand closely, because I do NOT want to repeat this enumerous times.
In order to effectuate the short squeeze, Wilshire needs to accumulate all the TRUE HMGP shares. If they can get the larger shareholders to move their shares to Wilshire, this is the first step...get the bulk, to begin with.
They will welcome the smaller shareholders just as much, but the more LARGE blocks they can account for, the more successful and sooner the inevitable squeeze.
At the point in which Wilshire can account for the majority of the HMGP shares, only then will they be able to demand of the MMs, accountability for all the naked shorts, of which MMs will then be forced to cover, by having to buy REAL shares...back from Wilshire (you and me).
It can be VERY complicated to understand how this will work. Let me try to elaborate.
HMGP shareholders have their shares with Wilshire. They wanna sell some. Since there will still be a normal market, sales occur either at current ask or bid. Wilshire then 'transfers' shares to the buyer's broker, and Willshire will KNOW who that broker is and how many he has.
OK, so that buyer now wants to sell his HMGP shares. He does at either current bid or ask, and broker returns those shares to Wilshire, and Wilshire distributes sold shares to new buyer's broker. Hence, Wilshire will know where all shares are at all times.
Eventually, Wilshire will have either had the full o/s transfer to their firm, or they will have bought them off the open market, themselves, since obviously, they know the true value of HMGP shares, they have the money, and it would be an investment on their own part.
If I am correct, they have not bought off the open market yet for legal reasons. Their FIRST goal is to 'get a handle' on the free floating shares though (yours and mine).
Again, eventually they will be able to account for the full o/s, and when that is done, they will be completely armed to effectuate the short squeeze by demanding all shares be accounted for, in street name, which is what MMs buy and sell, and is also, at that point, only naked shares bouncing back and forth.
Upon calling in all remaining shares, MMs will have no choice but to cover with REAL shares in Wilshire's control.
This is where it gets good. If people would only take my advice, and hold ALL their shares for a minimum of $5, when MMs finally realize Wilshire's Legal Begals have them in the corner, they will have NO CHOICE but to trade their naked shorts in for REAL shares, which, if people held tight, would cost them at least $5 per. Yes, even the .02 shares they shorted to me last year.
In other words, if WE can keep flippers from buying HMGP, and WE hold ALL our shares till $5, like I said, the biggest short squeeze the pinksheets market has EVER saw, and it's all only up to US!!!
I, for one, will transfer 90% of my shares just as soon as Wilshire is able to accept them. I have 100% confidence that Keith and Wilshire have together, came up with the solution to end this game of manipulation, that the MMs have played for WAY too long.
The greedy, selfish, arrogant SOBs will finally have the tables turned on them, and mark my words, this 'event' will make it to national financial headlines, because seldom does a pinksheet company cost the BIG DOGS millions of dollars, but this time, one will.
FWIW, I still very honestly believe the naked short position in HMGP is between 5M-10M, maybe more. Hard to say, until Wilshire can get a handle on the float. Multiply that by $5 and anyone can see how this would make headlines.
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