<<Going against the PIPE idea is 1. the low number of people shorting the stock. Anybody privy to this would be expected to take a short position. 2. The upward trend in SP in a skittish market.>>
1. Those statistics were from nearly 1 month ago--plenty of time for things to change. Also, how much is their to gain (or how discreet can a shorter be) when shorting a 50 cent stock with thin volume?
2. I wouldn't call one good day on low volume an upward trend.
I have no idea what is going on with that filing, perhaps a debt offering? It would probably be foolish to assume the arrangement is intended to protect the individual shareholders. Even if it is some type of poison pill, would that be good or bad for us? It depends on the quality of management....