I was about to mention dilution by cr but I see Bpharma already explained that. My understanding is you could get close to 5%, not sell a single share, and drop back from 5% purely because tha same number of shares you hold are now a lower % of the new number of shares on issue after a cr. So that explains how you could have the same number or more shares, but have a lower % than previously.
My concern is more with who is actively shorting this and where they are borrowing the shares from. If shortman site is to be believed there are now more than 600,000 shares shorted and that number of shares would get someone into top 20. I guess the loaner of shares may not have to report loaning or selling the shares if not above a 5% holder but it seems that surely shares are being supplied by a large holder?? They are shorting so confidently while the company keeps stating they will release some form of human burns data shortly. Something doesn't seem right.
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