Replies to post #1174 on Biozoom, Inc. (fka BIZM)

[Babbs]

BIZM Shorts on Yahoo discussing their dilemma (from comment board)

"I shorted a tiny -8,500 at 2.91 but now the problem is that IB continues to charge me 24% interest (about $22/day) while the darn thing's halted. I've heard about this happening before and it can be a lousy situation if it takes many months to sort out."

"If you borrowed 50% of the proceeds of shorting 8,500 shares at $2.91, your interest would be $8.13/day at 24%. $22/day works out to an annual interest rate of about 65% if you put up 50% and borrowed 50%."

"It's a security deposit and it should vary in required size with the market value of the stock. It's intended to secure your obligation to purchase and deliver the shorted shares. You can post cash or T bills in your account to secure it."

Yes, probably a lot of shorts out there!

[elkwood66]

so what is ur point, I will prob cover for 3$ gain at .50, cant argue with those gains. high 5 figure, so who cares after that, great luck to all