NanoTech Entertainment Inc (NTEK)

[halbaag]

The mid-month short interest report is based on short positions held by firms on the settlement date of the 15th of each month. If the 15th falls on a weekend or another non-settlement date, the designated settlement date is the previous business day on which transactions settled. The end-of-month short interest report is based on short positions held on the last business day of the month on which transactions settle. FINRA must receive short interest reports no later than the second business day after each reporting settlement date


Hence, the amount of shorting is almost impossible to tell for a penny stock like NTEK which has a time to cover of 1 day. One could short this (and buy back) 100s of times within the timespan of 2 weeks. As long as they weren't short shares at the settlement dates, then no one would know the wiser. Hence millions of shares could be shorted in two weeks and the short interest (in units of shares) could be 0, so long as the shares shorted were bought back before the settlement date.

Seems like a good idea for all the shorting of NTEK to occur between these settlement dates. The more investors can be convinced that shorting is not occurring (due to low bi-weekly short interest reports), the more demoralizing, if the stock falls.

$NTEK