Still think TITNC3: Return of the Iceberg was peak

looks like you get a lunchtime rip

 

Just breaking those limits and stops

 

$GTII Volume is up almost 400% from average

meanwhile $GME is at 13%

 

I don’t know if you guys caught the update but it’s 65% now
Busy at work today https://twitter.com/canecoleman/status/1377318849947836418?s=21

 

Oh I just saw this

 

here's where i'm at, take at your own accord. feel free to poke holes/shoot it down/add DD...whatever:

my main concern with the GTii play is the level of short interest that is actually out there...
it may be pretty significant, but 40-50 mil? maybe? maybe not?
FINRA reports (last one March 15th) suggests short interest is low: https://fintel.io/ss/us/gtii.
Obviously that was 15 long days ago. And would not include illegal and/or naked shorts.

the best DD I've seen on this front is this: https://www.reddit.com/r/WallStreet...ltech_industries_group_gtii_35_to_40_million/
the guys pushing this use phrases like "word on the street" and "rumored to be"...
but...the connections laid out seem legit.

From what I'm gathering the 40/50 million number comes from the convertible debt loan (Form 8K from 11/30/2020) -
"The Company is required to reserve five times the number of shares of its Common Stock issuable on full conversion of the Promissory Note. (based on the Conversion Price of the Note in effect from time to time, initially 9,777,777 shares) (the reserved amount)."
Or ~40 mil is the available float.

what's also interesting is this statement from the 8K on 11/30 - securities purchase agreement:
"i. Trading Activities. Neither the Buyer nor any of its affiliates has an open short position in the common stock of the Company and the Buyer agrees that it shall not, and that it will cause its affiliates not to, engage in any short sales of or hedging transactions with respect to the common stock of the Company."
Buyer is Geneva Roth.
This debt was closed out as of Feb 26, 2021 - ahead of schedule.
The DD suggests that this is GTii's way of flushing out/trapping the naked short - which based on the first link suggests maybe in fact what's going on behind the scenes. This could have also been the trigger for Geneva Roth to step up its shorting since it just got screwed out of it's deal.
Which would also suggest, as @TreeFortRichard had previously said, that the warrants are a way to account for the (naked) shorting and another 'tool' GTii is using to fight back.

the recent archegos margin call (and GME) show the level of skullduggery that goes on behind the scenes so it is plausible.
Also, if you follow the borrowdesk report, Lvl 2, and price action, you can see that shorts are actively suppressing price action.

EDIT:

Edit: April 1st appears to be the ex-div/ex-warrant date.
My understanding is that long term shorts (i.e. shorted shares held overnight to yesterday morning) are on the hook for the warrants (Record date is the 1st, ex-div was yesterday then (because of T+2)). No ex-div date was announced, so i'm assuming this to be the case.
So you had to have owned shares yesterday morning (i.e. not buy yesterday morning)) to be issued a warrant OR forced to cover the warrant as a short seller.
This part makes me wonder if part of the squeeze already occurred - the run up to 4.55...
That being said, the run up definitely lured additional short sellers - who then were likely unable to cover since the price really only went up in the last 2 days and either bought to cover (i.e. price goes up) or held hoping it would reverse in the next few days.
So...perhaps some shorts got out in the last couple days, others are on the hook.
The warrant process will result in a final tally.

disclosure:
I've got a long position...should've trimmed at 4.50...but oh well.
i'm not a lawyer. I only know that buy and sell are things you do with stocks and options.

 

Good shit, but don't forget this stock was being shorted well before it was $1 and since its hit $1 there is no way those shorts covered that cost

according to the guy who brought attention to it, G_ham or whatever his name is, the shorting has been going on for months and naked shorting as well. I guess once the brokerages audit their shares we will find out how much was naked short.

who knows how long that will take

 

I thought tomorrow was launch date. Where did that date come from?

I'm prepared for another day of flat trading. Or maybe it will go up. Or down. Stonks.

 

tomorrow is the date that the warrants are supposed to be issued. so brokers have to record their shares.

 

tomorrow is the 'record date' so the shareholders of record will be noted and eligible for the warrants.
that's when the actual reckoning of the books will take place (or over the days following).

because of the T+2 - trade date + 2 day settlement, to be a shareholder of record, you would've had to own the stock at market open yesterday.
This is typical and usually corresponds to the ex-div/ex-warrant date. Since there was no announcement of the actual ex-div/ex-warrant date, i'm assuming this to be the case. It could also be today. this part is squishy because there was no announcement of the actual date. the only place i've seen it is this: https://www.otcmarkets.com/stock/GTII/security
here it's listed as the 1st...which may be true?
but it's not on the filing so i'm not sure.

edit: could be T+1? i'm seeing lots of stocks that have ex-div a day before record date. Could it be april 1st? maybe? that seems unlikely since ex-div is not on record date ever.

 

looks like we've got take off

 

Power hour can go either way. I missed the load up.

 

up up and away!

 

36k volume in the last 10 min. crazy how much this moves with such low volume

 

sell orders are tiny compared to the buy orders in lvl2

 

GOOD, HODL

 

yea...still out there...
but that 65% fee's gotta sting!