Some shareholders and former shareholders will only be happy when CEO Berman is in jail, shot, poisoned or removed in no apparent order. Perhaps they will get their wish, perhaps not. In the meantime a $0.03 offering was providing an irresistible opportunity for the European arbitragers, people who would be called naked shorts if they did the same thing in the U.S. or Canada. Shorting against a registration and making a quick 40% (or more) drove a CEO (as opposed to a disguised stock trader) to kill the registration. He should be applauded for the action. IMO