Correct me if I am wrong, but my understanding here is Merryl...

Correct me if I am wrong, but my understanding here is Merryl Lynch have borrowed 20,557,072 (~$1.56mil @ 7.6c) shares, from Regal to short.

Pretty ballsy move given a $14mil funding package is sorted and CDX are in the process of rolling out the recently FDA approved Pulse.

An announcement on sales would be brilliant now, add $1.5mil to the buy side for cover, they could get pretty burnt. In lieu of that, I'd anticipate them to dump and hammer the share price with the hope it goes lower, which doesn't really matter in the short term as we're well funded!