Two months ago I thought exactly what I said that the merger and financing would set the stock off. However I have changed my opinion due the massive naked shorting in the stock as exposed by OTCShortreport.com on a daily basis.

CDEL on a daily basis leans on the stock and controls the bid and ask and does not let the stock move up. Where are they getting the shares that they sell daily? No insiders have sold because they would have to report the trades. Who has an account at CDEL that would be selling stock? No one that I or any knowledgeable person in Cardiogenics knows of has an account with CDEL. Most trades of the average investor goes through NITE, Ameritrade or Etrade. So again who is selling the 18-19 million shares sold through CDEL. None of these shares have been bought back with any buy orders by CDEL.

The only conclusion any person familiar with the market can come to is these are illegal shares being sold naked.

Yesterday:

Short Selling Data For CGNH