If I had to guess I would bet that those behind the short selling (or the "individual" if its just one person) are nibbling away at it as best they're able.  But quite frankly I don't think the shares are available in any sizeable quantity, things look too good to me to let go of any of my shares for $1.60 or anything close to that....

A short sale is like an IOU, and you can't pay an IOU with another IOU.  There are likely always some shares available, some who hold shares will probably get hit with a cash crunch and will have to trade at least a few and turn them into cash.  But I don't think there's much available at all.