I have some room to add, and imo there's potential for a situation where an optimal near term buying oppourtunity might present itself.

IMO Resverlogix has to issue news on Thusday Jan 31st....we all know the loan with Third Eye has a covenant requiring Top-Line data to be released by that date.  We also know that the loan is collateralized by basically all the company's IP.  Defaulting on the loan could represent a catastrophe imo because Resverlogix's entire valuation is based on the prospects of Apabatalone's success the way I see things.  

I like to anticipate how the market might react to varying hypothetical situations.  And here's one that has crossed my mind.  What if Thursday morning arrives and there's no news....no top-line data, and nothing about the status of the loan. 

How might the market react?

Remember what happened in April 2018 when the company annouced a proposed share offering?  Like most here I suspect we all do.  The PPS had been trading in and around the $1.75 area and then BAM, it got slammed and dropped to less than $1.40 and didn't hit bottom til June when it traded for less than $1.20 for a time.  

At the time it happened it seemed like a cut and dry cause and effect.....news of the proposed offering spurred substantial shareholder selling and the PPS cratered.  Only in hindsight did we find out that RVX short selling exploded higher in what can only be described as a bear raid imo.  

Before news of that proposed share offering came out short interest was a little over 175K, that was up to April 15th.  The news hit on April 17th and the next short interest update to April 30th showed that short interest had exploded to almost 1.2 million...by the end of May through to mid June it reached over 1.6 million.

Since then the number of shorted shares has decreased substantially, but it still hasn't fallen below 300K on any of the bi-monthly reports.  

I see the potential for the same type of activity.....now please understand, I'm not saying this will happen, I'm merely trying to anticipate what might happen....what I think could possibly happen.  I thought a bear raid was coming once before, and thankfully I was completely wrong.  

We know that as of Jan 15th just passed that short interest was reported at a little over 350K.  What I'm trying to do is to walk in the shoes of the players (or player) who is behind that short position.  To keep it simple, to try and think of what someone with 100K shares short might be planning.  100K shares at current prices would mean an outlay of over $300K Canadian to cover, provided there were shareholders willing to sell....and in my opinion there are precious few available at this current price.

So if Jan 31st comes and there's no news out at all....what might this hypothetical player short 100K shares do?

I think it is at least possible that he (in my world those who engage in short selling are always men) might just do what was done back in April....that hundreds of thousand of shares might be borowed (whether located or not) and dumped into the market to tank the PPS and shake the tree.

If such an event were to occur I could then envision a forum like this (as well as I-Hub, SH and Yahoo...any forum where shareholders particiapte) being hit with chicken little posting about the sky falling.  There would be no way to know if the selling was because of shareholders bailing in fear of a default or if it was due to a bear raid....at least not that I'm aware of.  

All this will be completely moot (debatable) if we get news tomorrow, Wednesday or Thursday before the opening bell.  And I genuinely believe the company should be updating shareholders in any case about where things stand with respect to the loan before the opening bell on Thursday.

But if thes scenario does play out....with no news and a sudden spike in selling, then I'm planning to be buying as much as I can

Finally there's a very good reason why this might not happen.....why, even if Thursday comes without any news, why a bear raid might not occur.  The reason is because of what happened last time....you'll recall that RVX ended up on the TSX Buy-In list for a pretty long period....a few weeks if I recall.  That was because those short selling failed to locate the shares they had dumped and were forced to buy back what they'd sold at a premium to the 'then' market price.

I don't imagine that shares of RVX are any easier to locate than they were back in April/May/June of last year....and the old axiom of 'once bitten twice shy' might very well come into play.

We shall see.....but hopefully not.  Give us news tomorrow so I can discard this hypothetical possibility from my thoughts, the sooner the better.