Geo,
Lynn is the CEO of an O&G exploration/production(?) company and as such, in theory, is an expert in O&G exploration/production (oh, yeah, and CaCO, Gold and other stuff e&p) he is not an expert in the capital markets, equity research, trading and etc., there's no way he would have an exploration that would make sense since he doesn't know. His touting the "rocket fuel" b.s. was pure speculation based on a model of the markets 50 yrs old that no longer applies in today's world. (Short squeezes are so rare these days.) Shorts, who operate in the here and now, understood that and took advantage of Lynn's naiveté regarding the financial markets and the clear extreme hyperbole he was pumping out in his press releases in an effort to drive the stock to higher prices.
The shorts saw a great opportunity with huge assymetrical risk profile. The probability that, in the long run, Lynn would produce all he said he would and sustain the stock price was far lower than the likelyhood that he'd miss on some part of his wild predictions. For those that had the wherewithall to tolerate the volatility, the opportunity was tremendous.
Plain and simple, Lynn is a big liar who thinks he covers himself with safe harbour language. He overpromoted highly risky opportunities as all but certain evntualities and many people got burned for believing him. It's too bad the SEC is itself incompetent, if they can't catch a $50 Billion fraud even when people provide detailed proof of the ongoing scam a decade before it finally collapsed, they're not going to catch a penny stock thief like Lynn. Otherwise Lynn would be in jail by now.
On that note, happy new years to all!
As always, all just one man's opinion.
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