One possible scenario is that NITE as MM actually held a substantial short position when the suspension and move to the greys took place. I think individual investor shorts will have been closed out a long time ago by their brokers - as if they borrowed shares over night they'd be charged a nominal amount of interest every day they held that short position.
Therefore, no individual investor could have held a short for this long. The interest would have well and truly wiped out any profit at all.
I think I've also heard that if you are trading from a German account or maybe an offshore account you don't actually have to ever cover your short position - but I'm not sure of the mechanics or rules about that.
However, a MM like NITE would be the only company that could hold a short position for so long.
The other alternative is that the company let the share price come down itself so that Novamex could buy the 75% it needed to take control.
If you figure - I think its quite possible that the bashers are paid by NITE. Then as the bashers were present already the company let them do their work and called off Momoraptor as of 25 February last year. He has not posted anywhere at all since that date. Usually when a person is that heavily into a stock and they sell, their posting history kind of tails off. It slowly decreases to nothing.
With Momraptor it stopped dead on 25 February last year. I've seen nothing anywhere at all on any board since that date.
So to me just thinking out loud - the most likely scenario is that the bashers are paid by a hedge fund and the company called off Momo and took advantage of them bashing to bring the price down and buy back the 75% they needed to take control for Novamex - so it could re-convert its debt to shares.
Looking forward to news. Hopefully soon. I guess if the SEC had not been happy with the answers that the company gave them, they would have permanently put a cease trade order or revoked the listing permanently.
Therefore, no individual investor could have held a short for this long. The interest would have well and truly wiped out any profit at all.
I think I've also heard that if you are trading from a German account or maybe an offshore account you don't actually have to ever cover your short position - but I'm not sure of the mechanics or rules about that.
However, a MM like NITE would be the only company that could hold a short position for so long.
The other alternative is that the company let the share price come down itself so that Novamex could buy the 75% it needed to take control.
If you figure - I think its quite possible that the bashers are paid by NITE. Then as the bashers were present already the company let them do their work and called off Momoraptor as of 25 February last year. He has not posted anywhere at all since that date. Usually when a person is that heavily into a stock and they sell, their posting history kind of tails off. It slowly decreases to nothing.
With Momraptor it stopped dead on 25 February last year. I've seen nothing anywhere at all on any board since that date.
So to me just thinking out loud - the most likely scenario is that the bashers are paid by a hedge fund and the company called off Momo and took advantage of them bashing to bring the price down and buy back the 75% they needed to take control for Novamex - so it could re-convert its debt to shares.
Looking forward to news. Hopefully soon. I guess if the SEC had not been happy with the answers that the company gave them, they would have permanently put a cease trade order or revoked the listing permanently.
