Bravo, not sure it is as easy as that. A shorter borrows the stock and sells it. Now that new sale will have the due bill attached to it, so the shorter theoretically is selling the shares (say 1000) and will have to give 400 GNBT and 400 NGIO to the buyer of their 1000 shares. So the question is, and I don't think anyone has the answer, do the shorts that borrowed the 1000 shares get the 400 GNBT and 400 NGIO from the person they borrowed the shares from. Since that person did not SELL the shorters the shares, rather loaned them, does the original person still get the 400 GNBT and 400 NGIO and the shorter now has to buy them in the open market to give to the due bill process. If so, we could see a short squeeze on GNBT and the NGIO is not available to be bought, so the shorter could be in breach and don't know what happens in that case.

This is all brand new stuff. It's like when a company changes their cusip number, shorters MUST cover their shares because the shares they borrowed and sold will no longer be in trading. That may happen here and so we don't know what will happen.

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So the dividend and NGIO shares will automatically be disbursed to the owner who loaned the shares as i understand. Now all the shorts have to do is buy low when the price drops on the dividend and return that share to the owner.

Actually seems to me like a nearly riskless proposition as the price is definitely going to drop to somewhere between .40 and .45. Short scoops up his shares at that price and returns them making a tidy profit. At worst they break even if Joe dumps a bunch of PRs?

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