It probably has more to do with the breakeven average cost per share that we reported. This price would double my money.
Not what I want.
Also - I don't believe that management would take this.
I think that the 50,000,000 to 60,000,000 price is for the short's consumption. The next generation streaming service is worth far more; but this is a doable number - as opposed to pie in the sky.
Netflix could pay this out of a rounding error on their Balance Sheet.
If there are truly many many millions of naked short shares; which I believe there are...a true sale to a real buyer would force the shorts to buy back shares to close positions...and the price we could obtain in the market should exceed the negotiated sales price. Who knows what that would be.
If you believe as I do (based on years of following this stock, years of reading Alan's daily reports of naked short activity, and my own belief that I have never seen a significant effort by shorts to cover), then there are 10's of millions of naked short positions in NTEK's stock..
1. That means that our current share price is completely unmoored from reality
2. That means that some favored players on WS have purposefully driven the share price down over a period of 4 years - unrelenting
3. I'm not saying that the risk to us isnt extreme
4. I'm not excusing management
5. The Skull and Crossbones event apparently was a stock promo that NTEK had nothing to do with
6. The S&C is a feature our shorts are familiar with and they found a way to make it happen - which greatly increases our risk - and it forces us to spend money on lawyers instead of success
7. The S&C scares away investors and lenders - greatly increases our risk
8. The S&C appearance was planned and purposeful
David and NTEK need to stay alive. Hopefully we get a fair judge