I've seen a couple messages now expressing the view that shorts will be able to have some fun given the new extended time-line, narmac with his most recent post and DND with the view about September giving shorts "a relative zone of comfort". 

I don't know about that. 

I'm not saying shorts won't increase their exposure here, short interest has already gone up over 100K over the past couple of weeks for trades settled up to June 30th, taking the number up close to 500K.   By the time the next update comes out after mid month I would not be shocked to see it go up another 100 or 200K.  

But that's the point....

If short sellers do borrow another 100/200K and fail to cover off settled trades by the 15th of July, then we'll find out about it by the 19th of July.  With less than 25K shares trading in Canada today there's not a lot of trading....and September isn't far off.  Shorting Resverlogix right now is playing with fire in my opinion, in 2 or 3 months time the PPS could blow skyward and those with outstanding short positions to cover could end up getting burned alive I think.

Fun times....