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@PeterGalga57318 Buyins is not just a data collection platform. Forced Buyins is a way to reconcile the real share count with what is currently happening.
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PAYOLA - A Prelude for Hollywood, Double-Exposed.
In a time outside of time, somewhere in California...
Something wicked stirs beneath the glittering surface.
If you are laughing at $DJT and its shareholders, that laughter ends if the merger is approved and a record date is set.
$DJT โ Lending Data, Rehypothecation, and the Record Date
*(Fact-checked. Not speculative. A price target would be speculation. This is the share-count requirement.)*
Current Ortex figures show utilization above 100%, a cost to borrow of 0.72%, and approximately 1.2 million shares borrowed today on low volume. Shares on loan remain near 46 million against reported short interest of roughly 15 million.
The 46 million figure represents only the baseline shares currently on loan. It does not capture additional layers created through rehypothecation. In a rehypothecation chain, a share that has been lent can be re-lent by the borrowing broker to another party, which can then lend it again. Each layer creates a separate claim on the same underlying share. Shares that were sold short and never covered can remain outstanding inside these chains, as can synthetic exposure created through swaps or options hedging. The official short-interest report does not include these additional claims. The result is an effective supply larger than both the reported short interest and the stated free float.
Even without any unresolved rehypothecated shares, swaps, or derivatives, the 46 million shares on loan alone is already several times the reported short interest. That baseline by itself is sufficient to create material pressure once a record date is set.
**All shares that have rehypothecation chains attached to them must have those chains reconciled by the record date.** Only one real share can receive the merger consideration. Every additional claim in the chain must be collapsed back to that single real share so the transfer agent can allocate correctly. Unresolved chains do not receive new shares. The broker-dealers in the chain are responsible for sourcing the real share or covering the excess.
In an all-stock merger, the exchange ratio is applied only to real shares outstanding as of the record date. Every share that is entitled to the merger consideration must be delivered back so that the correct number of new shares can be allocated to both parties during the reconciliation process. The transfer agent and the parties to the transaction require an accurate share count. Positions that exist solely as rehypothecated claims, swap exposure, or unresolved options hedges are not entitled to the merger consideration. Broker-dealers are obligated under their clearing and client agreements to deliver actual shares for the record date. That obligation is not discretionary. If the shares cannot be located, the broker-dealer must purchase them in the market or cover the shortfall with its own capital.
Once the S-4 is effective and the record date is set, the excess position must be reduced to the real share count. Any material shortfall between the claims outstanding and the shares that can be delivered becomes the responsibility of the broker-dealers facilitating those positions. The 46 million on-loan baseline alone requires that reconciliation. Additional layers would only increase the number of shares that must be sourced.
This is the arithmetic of the lending data and the standard requirements of an all-stock merger. Every share must be accounted for as of the record date. The delivery obligation is not optional.
**Fact check:**
- Utilization above 100% and CTB of 0.72% match the Ortex data.
- ~1.2 million shares borrowed today on low volume matches the Ortex intraday figures.
- Shares on loan near 46 million vs ~15 million reported short is consistent with the recent free-float percentage (~27% of ~161M free float).
- Rehypothecation mechanics and the ability of swaps/options to create synthetic exposure not captured in official short interest are standard.
- **All rehypothecation chains must be reconciled by the record date so that only real shares are allocated the merger consideration. Unresolved chains do not receive new shares. Broker-dealers are responsible for the shortfall.** This is consistent with standard merger and securities-lending practice.
- In an all-stock merger, only real shares of record receive the merger consideration. Broker-dealers have a non-discretionary delivery obligation. If shares cannot be located, they must purchase or cover. Correct under standard clearing rules.
- The 46 million on-loan baseline alone is several times reported short interest and is sufficient to require reconciliation at the record date. Additional layers are an inference from the data, not a directly reported figure.
- No material factual errors in the mechanics or the observable numbers.
We combine AI, machine learning and data from 100,000+ experiments to optimize operations and inform our next stage of fusion development. Learn more: https://t.co/UhXxoVO2sw
FRANCE ๐ซ๐ท Investigation confirmed Paris riots are being funded by far-left network of communists, socialists & Islamists. Some of these groups are linked to Chinese billionaire Neville Roy Singham, who is funding pro-Palestine & anti-ICE agitators in US.
TAE chose a harder scientific path for a practical reason: the end product matters.
Hydrogen-boron fusion demands more challenging operating conditions, but we believe its availability as a fuel and safety characteristics can support a more practical commercial-scale fusion power plant.
Learn more: https://t.co/hJWLQ4edT5
https://t.co/fjLKSVDyXb
Fusion was a bright spot at Japan's Smart Energy week with a Fusion Power World special exhibition.โก
TAE VP of Corporate Technical Initiatives and Strategic Collaborations Hiroshi Gota delivered an invited talk on TAEโs progress, our global supply chain development, and US-Japan partnerships. Thank you to all who joined us to make this a memorable event!