RE:Shorts
This is the result of the private placement (first tranche at 1.70, second tranchr at 2.05) and the warrant acceleration (at 1.20). Current existing shareholders that had the benefit of taking part in the pp's are selling & shorting their existing position only to replace is with cheaper shares through the pp and warrants. Once the dust settles and shares are delivered the short position will quickly decrease. It is just an arbitrage trade. It is good to keep in mind that many institutional investors have limits on the size of certain exposures in their mandate. So not taking on the new shares next to the existing position does not need to have anything to do with the investment case.