Janice, we all know that this company has a huge O/S and that PAIM dumps shares like crazy, but that has nothing what so ever to do with there possibly being an illegal short position in this stock.
I'm with you 100% on those two known facts, but someone will have to pay for any shorted shares if the buy back takes place and it won't be the company. Furthermore, the way I understand it is that the payment will be coming directly from the company in the form of a check. So, "if" there is an illegal short position in this company the shorts will have to cover, that is unless they can counterfeit a check from PAIM to pay for the bogus shorted shares they sold.
Now if the monies were to be just deposited in our brokerage accounts then we would have no way of knowing who paid us for the shares.
Additionally, I would not even be suggesting that there was a possibility of a short position in this stock if it weren't for the fact that this stock has a bid when in all good logic it shouldn't have. That along with the fact that someone is also buying Billions of shares at .0001 and .0002 when they know they are going to be only paid .00002 for them very soon. In my mind this action taking place suggest possible short covering.
If you would just admit to the possibility of there ever being a short in one of these penny stocks, even though you say you don't believe there ever is. I would have a lot more respect for you, but your denying what "IS" possible and spinning the topic away from the possibility kills your credibility.
I can respect you for a deference of opinion, but I can't respect you when you deny the possibility of there being a short especially in this case.
This stock should not have a bid after that PR. Also, who in there right mind would buy billions of shares at .0001 and.0002 when they know they are only going to get .00002 back for them?
I thought at first the buying was due to people with GTC open orders causing the initial buying, but when it continued I knew something else was up.
Either way, I believe the SEC needs to look into the trading that is going on right now.
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"Please tell me WHY they would have to cover. And...you don't think a "staggering" o/s of 9 billion shares, increasing all the time, is a good enough reason for PAIM's low stock price?"
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