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Microcap & Penny Stocks : PKGP (Packaging Plus)
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To: StandFast who wrote (2967)6/3/1998 11:22:00 PM
From: PHILL  Read Replies (1) of 4783
 


If the shares are bogus then the market maker only has to get the price high enough to recover his short position plus the real shares so he can get them back to the transfer agent. He doesnt have to give the phoney shares back. The phoney shares will just not exist any more. If he can't get back the bogus shares and meet the transfer agents deadline he goes to prison. I would imagine short covering is a big bussiness expense when it goes against them which it rarely does. They have the money to cover their positions they just don't want to. As far as covering their short positions know at a cheap price, who will sell them shares at these prices. very few. The only way to get out of their mess is to buy back all of the bogus shares.

PHILL
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