RE:Mmcrap Exactly what I thought. This is honestly really good news!! At least IMO.
they liquidated 44mil shares.
they then shorted 24.5mil shares and covered with their debenture shares. Decreasing their debenture position to 21.3mil from 28.3.
they bought 5.2mil shares in the bought deal, stripped the warrents, and then sold the 5.2mil shares.
They are under the 10% threshold that a few on the board think they need to maintain.
If they will do any convertible arbitrage - the amount they can short has now decreased significantly. I actually think, given the fundamentals, they will go long on the current position they have.
little to no risk with warrents and some debt. I still see this as a house clearance - which provides little impediment to clearing .45 now.