Checklist For Short Selling

AKAO

% UP ON DAY

43.22%

HOW MANY DOES HAS IT RAN

1

T+2 DATE FOR POSSIBLE BOUNCE

Tuesday 1.8.19

NEWS/CATALYST

https://www.bamsec.com/filing/156459019000118?cik=1301501

FLOAT

33.72M

VOLUME

9.04

FLOAT ROTATION

0.27x

OUTSTANDING SHARES

46.12M

MARKET CAP

77.94M

BABY SHELF

No

HOW MUCH MORE CAN THEY DUMP

Up to the total amount in their S-3 shelf registration

REVENUES

745K per month

CASH AND CASH EQUIVALENTS

55.64M as of September 30th 2108

CASH BURN RATE

-16.15M per month

MONTHS TILL BROKE

3.5 months calculated from the end of September so it should be less than a month before they are completely out of cash

LIABILITIES

62.51M

ACCUMULATED DEFICIT

511.83M

DILUTION FILINGS S-3/S-1

S-3 shelf registration for up to $250M

WARRANTS/ATM/PREFERED STOCK

$50M ATM out with $3.3M used at the end of September and around $46.7M left

SHORT FLOAT

31.33% which is around 10.56M shares

INSTITUTIONAL OWNERSHIP

50.4% which is higher than I like to see personally

INSIDER OWNERSHIP

21.66%

LONG TERM CHART

This has just gotten crushed over the past few months down from $12.00 a share in July to a low around $1.15 just a few days ago. Slow steady selling and no real bounced with volume until this one.

INTRADAY CHART

Nice grind up until it about 1:30pm where volume increased and it topped out around $2.10 a share before fading off and closing around 1.69. Most volume came in right around 1:00pm.

VOLUME PROFILE LEVEL RANGE

1.65 - 2.05

ENTRY AREA/WHY

Would like a gap up and push on $2.00 a share on Monday to short risking $2.10. Really think they are going to try and squeeze this up pre-market and get the price inflated so they can exercise that ATM they have. They are almost out of cash and they would have to use the least amount of buying power to get the price up pre market so they can dump come the open when all the volume from retail comes in. If it gaps down will likely just avoid it as it didn't rotate its float on Friday. Only thing I really don't like is the short float % as it is pretty high. The institutional ownership also worries me but since the float is a little higher and this has just gotten crushed I am thinking they will likely be using this as a way to get out of their longs. If we gap over $2.10 by some amazing chance will avoid in the morning and try and attack late day on backside.

PRICE TARGETS/WHY

If I am shorting risking $2.10 and get in anywhere around $1.90 - $2.00 would like $1.65 as my first target $1.50 as second target then if the selling pressure stays $1.20 where this thing had started at. They need cash so bad so would expect them to exercise that ATM to the absolute fullest if volume comes in.