You can disagree all you want. There may not be a bid or ask, but there is most certainly a range where it was trading. Again, if you are short, you need to BUY shares. You will pay the lowest offer out there if your broker can trade on the greys. Also, why in the world would you not cover at .05 on day one? That is like a 95% gain, the interest you are paying and the margin requirement to hold out longer would be pointless for a few percent. Shorters covering makes very very little sense to me. JMO