Ann: Completion of Security Purchase Plan, page-64

There were no "investors" at $1.90 that is just an illusion to suck in more retail funds.

No one in their right mind who had passed grade twelve mathematics would look at the Zip balance sheet and trending metrics and invest a single cent in this company

When they did a ,$400 million convertible note with a conversion price of $12 I said it would never ever see that price and people laughed.

The convertible note was accompanied by a delta hedge with LD loaning out his shares to be shorted.

All that has happened is the hedge funds have shorted the shares relentlessly from $9 over and over again and they were short 75 million.

They could buy them back in the market, effectively bidding against their own short position pushing the price up or could come to an arrangement with Zip to buy them back at a discount at $1.90.

Zip is a cash cow for shorters as it's blatantly obvious it's going to Zero so better to give the funds to Zip than market sellers to keep the cash cow going for another year and keep shorting hence the 30 percent fall from the offer price.
.