lasers,
I don't believe the naked shorts are near the problem you and others think it is. Probably a part but imo not the problem. It seems the shorts, naked shorts are always a crutch to companies that have had massive dilution for years. Instead of blaming it on reality, it's always the MM's and the naked shorts. I have no doubt in my mind that ACT could have been trading on the Nasdaq for the past year and would have had seriously problems there too.
They would probably be doing a reverse just to meet the $1 minimum bid requirement. No company is going to do worth a damn continually pounding shares into the float especially the last 400-500MM shares that had no chance to benefit the shareholdewrs in any shape or form. I will call a spade a spade, dilution is by far and has been the main problem and now the bloated share count leaves ACT few options. The nasdaq is no cure all either, better exchange for sure...
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