Welcome to the Cardiogenics Holdings Discussion Forum

Paramagnetic Beads and QL Analyser are Proprietary Products

Free
Message: CardioGenics Shareholders

It appears that quite a few of the posts by Thebeatgoeson contains misleading and inaccurate information particularly with respect to the huge naked short position in CardioGenics. I will prove this point in the rest of this post. Why this poster, who appeared on this Board a couple of days after thegameisover left, is so intent on trying to disprove the naked short fact is a mystery....About a week ago he tried to discredit the naked short position by posting about the SHO list. He did not mention that the SHO list is not applicable, in this case, because the short positions are held overseas....He just posted under the title "What we know" that the 10.9 million shares that were issued by CGNH during the last five months were sold during the first quarter of 2015 and could have accounted for most of the 32 million shares traded. His premise was that the 10.9 million shares were sold and then flipped one or more times......Factual Information: Of the 10.9 million shares issued by the Company 1.4 million were sold during the final quarter of 2014. Of the remaining 9.5 million shares close to 3 million are still held by the investors listed in the 10Q. The remaining 6.5 million shares were sold during the first quarter. Thebeatgoeson further states that the shares were probably sold at a 100 percent profit and the buyers resold those shares at close to another 100 percent profit and this process might have been repeated again...Impossible!....According to his premise the 6.5 million shares would have been sold at 2.5 cents and then resold above 4 cents. An analysis of the trading in CGNH reveals that less then 3.9 million million shares traded above 4.0 so far during the first quarter. I am aware of investors who crossed 480,000 shares above the 4 cent level. That would leave approximately 3.4 million shares that could have been resold. It is highly improbable that the buyers of the 3.4 million shares, some of them I might know, would sell those shares. They were most likely reducing the cost of their positions. If you assume that half of the 3.4 million shares were sold and add that to the 6.5 million that were sold you would end up with 8.2 million. If somehow the 10.9 million figure used by Thebeatgoeson was correct his flipping premise would look more incredible. It is also much more likely that the original 6.5 million shares were sold at a average price well above 2.5 cents....Conclusion: The above information indicates, that if you believe the premise that Thebeatgoeson advocates, at most 8.2 million shares could have been sold during the first quarter as a result of the debt financing. I stand by my conclusion, that is backed up by knowledgeable investors who have studied the naked short problem that prevades the stock market, that of the 32 million shares that traded in CGNH during the first quarter of 2015 at least 15 million shares can not be accounted for. The unaccounted for shares can only be the result of naked shorters selling to themselves....The title of Thebeatgoeson post "What we know" should be retitled to What I think.

Share
New Message
Please login to post a reply