Narmac, skepticism is warranted given the history you enumerate.  That's why, during Don's public presentation...when he said the top line data "should" be out by EOY, I put the word should in quotations, because its qualified....if it doesn't happen, oh well he didn't use the words will be out.

As far as the spike in short selling, I didn't have the number until the next day, it came out Thursday evening.  The day the PR came out about the prospectus filing, that was April 17th.  On that day volume shot up to over 484K across all trading platforms.  The day previous volume was a little 15,000....that's a massive increase.  You'd have to go back to March 15th for a day with over 100K trading when 137,800 changed hands.

Going back to the young man I met from that company called Silo....these guys are mercenaries.  They don't care if a company is good, bad or in between....this Jonathan kid, I don't think it would matter if a company was developing a promising drug that had a good chance of curing baldness and was close to FDA approval, or a company developing a pogo stick that would shoot fireworks with each bounce.  Give them shares at a discount to market so they could scalp $1 or @ million worth of shares for 10 or 20 points....no worries.  

I conveyed that to DM during our brief convo, and its something he'd remarked on during our phone conversation months back....that these angel investors all wanted in cheap so they could scalp shares...he said back on the phone, and again on Wednesday that he's not looking for that type of financing.  

The point I'm getting at here is that announcment on April 17th about the prospectus and potential share offering....I have little doubt it popped up on the radars of more than a few mercenary types.  And I suspect it was simply a matter of this mercenary attitude playing out....

Remember last June, the last time Resverlogix took part in an offering arranged by BB....short interest shot up from about 230K to over 840K, a jump of over 600,000 shares sold short.   In Biotech its my understanding that when a drug seems to be working in trials, that a frequent step is to increase the dosage to see if it will work even better.  The short selling in June worked well, so maybe the bears decided to go even bigger this time around. 

Bear trap?

While I doubt it, I don't completely dismiss the possibility.  Notwithstanding Don's many proclamations that have not come to fruition, my impression of the man is that he is highly intelligent and equally, that he is not naive.  

I'm as ticked as anyone at the current valuation....$1.30 or thereabouts is a joke.  But when there are players willing and able to dump over 1 million borrowed shares back onto the market, there's not much that you can do....those behind that selling don't give a rat's rosy rear end about Resverlogix, Apabetalone, diabetes or any other disease....all they care about is how many points they can make.  There is merit to their outlook, it almost entirely eliminates emotion.  

I'll end this rambling post with a final thought, about using hair gel.  That would be like decorating a christmas tree that was chopped down after a forest fire....i'd look stupid with a load of gel on my dome.