Whew, needed an aspirin after that post. Thanks for the explanation on how MMs swap shorting back
and forth. WRT to EUTO, let's see if I understand this. You got in hand 25MM certs when only
16MM should exist?
That's the ideal situation. We've got about 16 million now in cert form, and it would be ideal to get 25 million in cert form.
The big question: When a share is shorted illegally, what implications does this hold to the buyer of
that share? This may sound naive, but it wouldn't surpise me to hear that the SEC would treat those
longs as owners of stolen goods or scale down the price to reflect 16/25 of prior value.
My guess is that the buyers holding those shares own those shares, and really, that's a non-issue. You paid for them, they are yours. However, that doesn't mean that the shorts have to buy back your shares; they can buy back other shorted shares and prolong this thing for, let's say, 20 years, if they felt like it.
Has not much of this covering occurred though? I noticed, my eyes not deceiving me, that EUTO
traded as low as 2 mils (2/10 of a cent) and shortly thereafter it broke through 25 cents. In Franco's
lexicon, that's a 125 bag city Arizona. Or was that a reverse split and my stock data service didn't
adjust for that?
Again, your guess is as good as mine. I don't think much covering has occured, but I do think that Eutro Holdings has shaken out all of the small shorters(the ones that are only short less than 100k). These are the legitimate shorters. The others are the people who have shorted 2 million, 3 million shares in order to attain a terminal short. Our investor's group, from what I gather has 30,000,000+ shares, and we're requesting 25,000,000 shares to be put in cert form. No reverse splits, no anything. Eutro Holdings, in its prime was worth 1+, and the company is in better shape now than it was at that time.
Matty Dee |
