Oy—no, they moved on to something more important—Quiel doesn't know about AZNT's proposed short squeeze, even though he's read the press releases from Mike about that proposed short squeeze. Okay, so the short squeeze has been talked about nearly daily for over a year, and he's a consultant for AZNT—an 'insider', so to speak. Doesn't mean he'd ever hear of it, right? Huh??!
(Montal & Quiel)
7 Q. Are you familiar with Amazon's, quote, short squeeze
8 program, close quote?
9 A. Amazon short squeeze. I didn't know that they were
10 involved in one.
11 Q. Did you know that Amazon was trying to create a short
12 squeeze?
13 A. No.
14 Q. Are you familiar with the term short squeeze?
15 A. Yes.
16 Q. Why don't you explain to us what that is?
17 A. People who short stocks, get burnt if the stock moves up.
18 Q. And a short squeeze is essentially a situation where the
19 stock keeps going up and it's difficult for the people who
20 have shorted the stock to cover because as the price keeps
21 rising their losses keep mounting?
22 A. That's correct.
23 Q. And one way to create a short squeeze, is it not, is to
24 limit the amount of available shares that are available for
25 purchase? The question of supply and demand, correct?
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QUILL - CROSS 218
1 A. Well, no.
2 Q. Well, the less shares that are available and the more
3 people that want them, you don't agree that the price would
4 usually go up?
5 A. Well, the fewer shares that are available, the price
6 should go up unless somebody decides to short them.
7 Q. Putting aside the question of someone deciding to short
8 them. But the less shares that are available generally
9 speaking the higher the price, correct?
10 A. I would say so, yes.
11 Q. Okay.
12 THE COURT: We have been over that, counsel. And I
13 understand.
14 BY MR. MONTAL:
15 Q. I'd like to show you what's been as exhibit 39 and 40.
16 And it may actually be up there. And those are the press
17 releases from Amazon in June of 19987
18 THE COURT: What number are they?
19 MR. MONTAL: 39 and 40, your Honor.
20 BY MR. MONTAL:
21 Q. Have you ever seen those documents before or anything like
22 those documents before?
23 A. Yes.
24 Q. When was that?
25 A. I don't recall the date. Probably shortly after those
ASSOCIATED REPORTERS OF NEVADA (702) 382 8778 QUILL CROSS 219
1 were received.
2 Q. Well, did you have any involvement in the drafting of
3 these?
4 A. No.
5 Q. Were you consulted before about the topics in these press
6 releases before they were issued?
7 A. No.
8 Q. You were a consultant at that time for --
9 A. Yes.
10 Q. - Amazon, correct?
11 A. Yes.
12 Q. But you had no idea that they were going out?
13 A. No.
14 Q. What about exhibit 42 which is a February 18, 1998, press
15 release from Amazon?
16 A. February --
17 Q. February 18, 1998. And that's exhibit 42.
18 A. Okay.
19 Q. Are you familiar with that press release?
20 A. I'm sorry?
21 Q. Are you familiar with that press release?
22 A. I've seen it.
23 Q. When did you see that?
24 A. Don't remember the date.
25 Q. Was it before or after it was issued?
ASSOCIATED REPORTERS OF NEVADA (702) 382 8778 QUILL - CROSS 220
1 A. It was after it was issued.
2 THE COURT: Are we talking about 40 now?
3 MR. MONTAL: We are talking about exhibit 42, your
4 Honor. That's the February 18, 1998, press release.
5 THE WITNESS: That was after it was issued.
6 BY MR. MONTAL:
7 Q. Did you have any involvement in drafting this or were you
8 consulted in connection with the issuance of this press
9 release?
10 A. No.
11 Q. Well, turning back to exhibit 40, do you agree with what
12 will happen to Amazon stock price if the -- as set forth in
13 the exhibit for June 16, 1998, press release?
14 A. Would you get closer to the mike? I can't hear you.
15 Q. I apologize. I'll start again. If you look at exhibit
16 40, please, which is the June 16, 1998, company press release.
17 A. Yes.
18 Q. Entitled, AZNT announces the second measure of critical
19 strategic events to increase stockholders' value. Do you
20 agree that if the steps outlined in exhibit 40 are put into
21 effect that the price of Amazon stock should increase?
22 A. No.
23 Q. So you believe that the information outlined in this press
24 release is inaccurate, that even if all the steps outlined by
25 Amazon to increase stockholder value, even if all of those
ASSOCIATED REPORTERS OF NEVADA (702) 382-8778 QUILL - CROSS 221
1 were put into effect, the price of the stock would not
2 increase?
3 A. I suppose first of all I would have to know how many of
4 these shares have been sold.
5 Q. Well, when you say these shares which shares do you mean?
6 A. When you're talking about this news release, they're
7 talking about 4,224,000 shares. Have there been any of those
8 sold?
9 Q. Well, if you cancel --
10 A. But they haven't been sold it should not make any
11 difference, okay?
12 Q. Didn't we just discuss the question of supply and demand?
13 Well, withdrawn.
____________________________________________________
Heh—Antibash, Petry, and the rest still believe in this short squeeze thing. <heh heh> Heck, Anti even thinks that Quiel's testimony is just W O N D E R F U L for AZNT. Perhaps we've discovered new life forms in the single-celled Idioticus Maximus sub-species. |
