I agree, not a big deal at all. However, I disagree with you on the hedging. I'm a long and I think Patriot will pay-off some day, but, I think there's a good possibility that the SP could go down on 4/9 based on what's happened in the past. Someone could take advantage of the temporary price decline with their short position and hang on to their long position until the company finally makes it.
Who cares - the short position is a non-issue.
I just hope there's an announcement regarding M&A or another big, big signer to help launch us.