QIN (ASX) Class Action

Originally posted by CjsfromNSW ↑

I tend to recall that you have also said that you still held a short position and further another poster advised that shoetrees borrow costs were about 11% so either you have and don't have or you made a very good deal for your borrowing.

Given that you have consistently DOWN ramped the Coy over the period It is reasonable to assume that either you sill have a short position and are hoping for a Va with shares zeroing so you never have to cover OR if you do not hold you have some other motive for continuing to spam a coy in which you have not any skin in the game.

Of course you may well be a high minded caring person who wants to enlighten the world as you see it - but i doubt it.

Also to point out you keep making dire predictions as to the fate of the coy but they have yet to materialise and the major holders have all made a different call - says something if they are prepared to do this - they think the coy has a better chance to survive and prosper than you.

All Imo and DYOR of course

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errr - no I said borrow was about 11% PER YEAR, and I knew because I was short. When I first got short it was about 8%, and I'm sure when Glaucus got in it was probably less. When you borrow stock, you lock in a rate and that doesn't change.

That's 8% per annum, less the interest on your cash, so about 7%, or 0.056% per month. On something nominally at 29.5c, that's 0.17c/sh per month. On a 100,000 share short position, that's $170 or $5.67/day.

That's very very cheap - thank you baggy blackrock.

I've never said I was short after I covered because I haven't been - others repeatedly say 'well why are you negative about the stock you must be short'. That doesn't make it true, and I'm negative about the stock because there are objectively no positives.

I made predictions that the company's cash position would become critical early in FY18 - true. I made a prediction that the company wouldn't see the year out - that's also looking highly likely given they've got a week before they will be in default on the interest payment and the bondholders will be entitled to take all of the assets of the company.