The warrants vs short position. There is much speculation that the shorts are covered by warrants. The short position is relatively small with the last report at 1.7 million down from 2.1 million. Of course the bulk of it was put on in April when the share price reached its all time highs in anticipation of a potential announcement at the EC event?
Obviously there is no real certainty who these shorts belong to and the amount of turnover between reports (+/-). Although I have been told by a number of warrant holders that they are not short and we know that Pinetree/SI is not short as it would be filed in the insider report it is certainly a strategy that many warrant holders could put on. I suspect it may be a combination of both. Why I say this is that we have seen many daily buy-ins taking place over the past weeks to delivery shares as a result of failed trades. I doubt that any short that was covered by warrants would be subject to a buy-in but I am not certain of this.
So the table below provides a view of what the value of the bulk of the short that was put on in April is worth. If the proceeds of those shorts are being used to pay for warrants then the 1.6 million shorts put on in April would pay for roughly 4.5 million warrants. Not a bad gig if that is what was planned. Short 1.6 million shares to pay for 4.5 million warrants. Who knows? It will all be meaningless and history very soon.
| Short report period | Short | short increase | aver price | proceeds | if used to pay for warrants |
| 30/04/2014 | 1,706,244 | 1,242,700 | 2.17 | $2,690,446 | 3,587,261 |
| 15/04/2014 | 463,544 | 374,100 | 1.88 | $704,804 | 939,739 |
| | | | | | 4,527,000 |
| Short Positions for PTK | |
| | | | | | | |
| Symbol | Report Date | Volume | Change | Shares Issued | % Float |
| V : PTK | 2014-12-31 | 1,742,548 | -382,752 | 166,878,084 | 1.04 |
| V : PTK | 2014-12-15 | 2,125,300 | 60,381 | 166,378,084 | 1.28 |
| V : PTK | 2014-11-30 | 2,064,919 | 481,800 | 165,828,084 | 1.25 |
| V : PTK | 2014-11-15 | 1,583,119 | 656,300 | 164,503,834 | 0.96 |
| V : PTK | 2014-10-31 | 926,819 | 41,200 | 164,393,834 | 0.56 |
| V : PTK | 2014-10-15 | 885,619 | -267,000 | 163,950,584 | 0.54 |
| V : PTK | 2014-09-30 | 1,152,619 | -526,600 | 163,881,884 | 0.70 |
| V : PTK | 2014-09-15 | 1,679,219 | -116,600 | 163,881,884 | 1.02 |
| V : PTK | 2014-08-31 | 1,795,819 | 529,200 | 163,833,384 | 1.10 |
| V : PTK | 2014-08-15 | 1,266,619 | -38,100 | 163,773,384 | 0.77 |
| V : PTK | 2014-07-31 | 1,304,719 | -350,681 | 163,773,384 | 0.80 |
| V : PTK | 2014-07-15 | 1,655,400 | 158,456 | 161,993,989 | 1.02 |
| V : PTK | 2014-06-30 | 1,496,944 | 319,300 | 159,629,759 | 0.94 |
| V : PTK | 2014-06-15 | 1,177,644 | -454,400 | 159,491,709 | 0.74 |
| V : PTK | 2014-05-31 | 1,632,044 | -51,800 | 159,436,709 | 1.02 |
| V : PTK | 2014-05-15 | 1,683,844 | -22,400 | 159,341,709 | 1.06 |
| V : PTK | 2014-04-30 | 1,706,244 | 1,242,700 | 158,936,709 | 1.07 |
| V : PTK | 2014-04-15 | 463,544 | 374,100 | 156,018,485 | 0.30 |
| V : PTK | 2014-03-31 | 89,444 | 23,300 | 148,335,985 | 0.06 |