http://www.bnn.ca/News/2016/7/6/Top-Picks-from-Jerome-Hass-Descartes-Systems-Enercare-and-Short-Electrovaya.aspx

OG: It is Jerome Hass @ Lightwater Partners. As I said, top line for now dictates how this stock moves. He shorted it because he is expecting an equity financing coming (not debt financing). So he is betting this will depress the stock price. By shorting it at $3.47 on June 30, 2016, he is at least expecting the financing will be done lower than his entry price. Today's news release caught him off guard, it rose so much and his short position is getting very vulnerable. That's why he came out in public to pound the stock and hope to move the SP down. Right after his announcement at BNN, the sp dipped to $3.96 from the intra-day high of $4.34. I wouldn't be surprised that he might take this opportunity to cover somewhat. This is a dangerous stock to short and it can spike sharply with news. The conditions surrounding EFL are very different today than even one year ago. To name a few, they now have a factory in the most desirable place in Europe and we now have Liberal governents in both federal and provincial that are very much green friendly. I think there is a good chance that EFL might pull off with the debt financing with both German and Canadian banks and it might be convertible debt.