I would take issue with two of your points.

1. A short squeeze does not refer to the timespan during which it occurs. It has to do with pressure on shareholders that sold short and have to buy back to close out those positions. The most mentioned comparison for the followers of JAGH has been the TASR short squeeze that took the split adjusted price to $300 per share. That, however, occured over about a six month time frame.

2. Dilution of the stock will be immediate although the exact impact on pps can not be accurately predicted. Just because the 85% of shares that will go to CardioGenics holders will be restricted from sale for 6 months, their claim on the assets and projected value of the combined companies will be immediate.

I seriously doubt the existence of any significant naked short shares, partly because of the very small legitimate short positions in the stock and the fact any previous naked shorts, even if they existed at one time, have had ample opportunity over the years to cover profitably and would be covering right now rather than waiting a few more days for a formal merger announcement. I don't think the stock price goes up much even with a completed merger and I think the shares ultimately fall into single digits as a result of the dilution. I feel any price jump will be due to existing longs adding to their positions in euphoria over a finally completed merger rather than new buying by "greater fools" since I don't believe there are many left out there who have not already dabbled unsuccessfully with what I consider this pink sheet/OTCBB fantasy stock. I think the RB pumper crowd has "cried wolf" way too many times and that this merger (or any future merger) will be mostly a non-event at best, or a huge negative at worst due to massive dilution.

However, as I have said before either here or on RB, if this merger falls apart and the stock tanks into single digits on the failed merger, I will seriously consider buying some shares at that point. That is because I believe YA Global would certainly "find" another potential reverse merger partner in an industry du jour around the end of the year so they will be able to sell their most recently excercised restricted shares granted at 5, 7, and 10 cents a share. From what I can see, the ability of YA Global to continue to make money on the JAGH story is about the only constant in this multi-year adventure!