9 Month Hold on Some MB Converted Shares ..."All of the directors and officers of MBOG as well as MBOG's largest shareholder, collectively holding approximately 70 percent of the outstanding MBOG Shares, have entered into support and lock-up agreements pursuant to which they have agreed to vote their MBOG Shares in favor of the Transaction and have agreed to certain escrow agreements with respect to any Surge Shares received from the Transaction for a period of nine months following the completion of the Transaction, subject to certain exceptions."...
Large blocks from MB converted shares will not be on the market until May 5th. It is possible that some might take a short possition to stop the bleeding. Sort of like hedging against further losses. Anybody with a short position would certainly like to build a wall on the ask to keep the price down while they cover. They can cover with shares they own. But, at a cost as the price of crude goes up. Made a pile of money today and thats just the start. Good for MB holders to stay long as well. DF