Today I Want to talk about how judge CERN has denied the ability for any more objections indicating a lawsuit decision is imminent. I Also want to go through the mechanics of the reverse split and explain exactly how many shares you'll receive. And finally, I want to talk about the Shorts, Last Chance, or Their Last Stand. So stay tuned and let's make some money.

What did I've straight in with the information? So America tweet is saying Rose Izzo's Attorney once until Monday to reply to objections to her motion. Bizarre has already said the record on the proposed settlement is closed and both councils tell him no, you don't get to go against the judge's letter This letter is from the plaintiff saying we write to inform the court that in accordance with Chancery rule171 F Miss Izzo intends to file or apply in support of the motion by Monday However, the courts replied saying Ted The Court's July 24th letter concluded that other than the advocacy requested above, the record on the proposed settlement is closed. The course letter did not include a reply on your motion and it's in the defendant's position that we should abide by the course letter and the defendant's replied saying we also don't read the Court's 24th of July letter as contemplating a reply and therefore don't think it's appropriate to agree to a schedule for one without leave. So it's clear to see the course position is the record on the proposed settlement is closed and is just simply deliberating decision.

There's no more objections, there's no more motions for or against a lawsuit, it's just simply now up to the courts to decide the split day And as Frank tweeted, he said, it looks like to me the shorts can no longer use the going bankrupt thesis anymore and now all they have left is to resort to attacking Adam Aaron and bringing more and more lawsuits against AMC in a last-ditch attempt before squeeze and Frank added saying nice try but it won't work which was also very aptly timed as we've now had a third frivolous lawsuit against AMC it as boss sponsors tweeted, he said this time they claim AMC broke the law by sharing website browser cookie information with Facebook when buying movie tickets online he's obviously added saying that's absolute rubbish and it shouldn't affect the Ape to AMC conversion nor the river split Short: Sparkly desperate MarketWatch was posting articles on Friday saying AMC illegally shared customers information with Facebook and lawsuit claims. this is yet another lawsuit to try and delay the reverse split and the conversion of Ape into AMC and it seems the shorts are really getting desperate this time claiming that AMC broke the law by sharing website cookies. Obviously, website cookies are always shared wherever you go on the web, but there is Gdpr or global data protection requirements that do need to be followed I'm sure AMC has a multi-billion Dollar business is following all of these Gdpr requirements properly. So again, it seems like another frivolous lawsuit to try and deny the split or to the later split even further.

And what is also very interesting is that from Virtues 10q, their cost of security sold not yet purchased or FTD expenditure increased by 131 it says interest and dividends expense increased by 118 million dollars or a hundred and thirty percent to 210 million, and the increase was primary attributable to higher dividend expense with respect to security sold not yet purchased, and as well attributable to a higher interest expense incurred on cash collateral due to increases in Securities lending transactions. So it seems Virtue has been trying to borrow even more shares, trying to pay even more money to borrow those shares, and has been failing to deliver on those shares as well incurring additional fines and interest expenses, especially as those expenses have increased by 131 percent. Virtue is clearly struggling, and it seems the reason why short also trying to delay the split further is because both Virtue and Citadel are having very bad years so far. Also, you can currently get a guaranteed free show of Tesla, a 50 cash reward, and up to 15 free stocks which you could always use to buy more shares of AMC GameStop or of Ape when you sign up to MooMoo using the link in the description below signing up to me who is free, it just requires a temporary deposit and it's a really great way to help support me and help support the channel.

And on top of that, MooMoo is very easy to use. They've got tons of technical indicators and even has their own options trading platform in Versa Turf Tweety Team Virtue and Citadel Securities major traders who both experience declines in their trading income. Virtue reported a 23 drop in trading income for the three months ending June compared to the previous year. Meanwhile, Citadel Security saw a 35 decline in revenues for the first half of the year, and their profits were reportedly down by approximately 60.

So far this year, the stock market has been in on an absolute tear. But yeah, Citadel's profits are down sixty percent. All Citadel had to do was buy any kind of tech stock of any varying size whether it's a big blue chip Tech stock or even a growth stock. and if they did so, there'd be up between 100 and well over 800 so far for this year.

But instead of being up 100 or 200 or 800 percent, they're down 60 instead. Whether Citadel did invest in some Blue Chip tech stocks and are up 100 on those Tech long positions but have also lost 160 on some of their leverage short positions I Don't know, but clearly whatever Citadel is doing is the wrong thing. Citadel clearly have some sketchy positions that have been losing them tons of money this year which could continue to spiral out of control I wonder if this profit Deacon will go past 60 to 80 or to a hundred percent or maybe even more and as a result Robert tweeted saying that he doesn't feel the least bit sorry for the shorts because the shorts have been warned. He also attached this very interesting screenshot of all of the options chains for AMC which are strangely massively stacked.

We can see the options chained for both August and September are absolutely stacked with both in the money and out of the money. Course going forward to the very start of 2024, there's a total of 1.6 million cool options, most of which are currently out of the money, but many are already in the money and many will also be coming in the money after that AMC conversion and reverse split Now retail stocks also tweeted saying three times today I've seen people ask about the reverse split mechanics again and again and again. He said settlement is after the reverse split and conversion is also after the reverse split as well. And yes, Ape gets divided by 10 as well.

To make this easier, I've drawn it up on a whiteboard in exactly how the AMC conversion, reverse split and settlement will happen and and around about what prices all of that will happen at as well. So let's say, for example, you're currently holding 150 AMC shares and 150 Ape shares. Step one, when this lawsuit finishes is to perform the conversion when Ape converts into AMC and you will have a total of 300 AMC shares now on the same day. But I guess technically ever so slightly after the conversion, you have the reverse split that 10 for One reverse split where your 300 AMC shares reduces to 30 shares and then again on the same day.

Although technically I guess a few seconds after you have the AMC lawsuit settlement as well that 7.5 shares to one lawsuit settlement, dividing your 30 shares by 7.5 shares means you get an extra four shares. So that means you're 150 AMC shares and your 150 Ape shares convert into 34 shares of AMC in total after the conversion, reverse split and settlement. Now in terms of prices, AMC is currently trading at four dollars and 80 cents and Ape is trading at one dollar and 83 cents all together. Using this example, that's around 900 worth of shares.

But obviously after the split where AMC will be trading above 30 per share, that's over a thousand dollars of shares you'll have at the other end. So actually your total shareholding value will increase obviously due to these additional bonus settlement checks. And obviously, as I've discussed in previous videos, after this reverse split, AMC could very quickly and very easily run from thirty dollars per share, up past 50 and up past a hundred dollars per share as well. Obviously, at that point, with the crazy high borrowing fee, the near impossibility it is for the shorts to locate shares, the shorts will be very financially stressed and obviously that point of being very financially stressed paying hundreds if not thousands of percentage points on their cost to borrow fees.

they could end up being margin called very, very quickly. and obviously at that point being margin called above 100 per share could very quickly end up causing the squeeze. But finally, and interestingly, investor Turf has also tweeted once again saying JP Morgan is being sued again for an enormous 3.5 billion dollars. It says a massive 3.5 billion dollar lawsuit against major Banks like JP Morgan and Citigroup over alleged foreign exchange rigging was revived by London call on behalf of thousands of asset managers Pension Funds and Financial Institutions.

This lawsuit has been reopened against JP Morgan This is due to the recent lawsuit about JP Morgan deleting thousands and thousands of emails which has resulted in many asset managers believing JP Morgan is once again manipulating the FX markets and potentially the financial markets as well. So it seems it's not just retail investors, but it's also thousands of Pension funds and financial institutions that are also believing JP Morgan is manipulating the market. and they also believe that something needs to be done to curtail JP Morgan's abuse. But guys, be sure to let me know what you think down in the comments below.

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