ZNext Mining Corporation, Inc (ZNXT)

[Heartbeat]

There seems to be some confusion here. That letter appears to be out of date as the rule change it seeks is coming in on 3rd July. The new rule will reveal the total short position in OTCBB/Pink Sheet stocks.

Reg SHO deals with FTD's rather than legitimate short positions. FTD's are sometimes called 'naked shorts' but this term is causing a lot of confusion. FTD's are 'failures to deliver'. Money has been paid but no shares have been handed over. Instead there is a type of IOU called an FTD.
Reg SHO indicates that there is a problem with a particular stock but doesn't reveal how big the problem is because the number of FTD's in the stock is not disclosed.

These FTD's can be treated like real shares by the broker/dealers and act like counterfeit shares. They increase the supply of 'shares' and can cause the price of the stock to fall.

For full transparency I would like to see three figures:

1) The total short position (coming for Pinkies on 3rd July)

2) The number of FTD's in the DTCC (known to the SEC but not made public at present for some strange reason)

3) The number of ex-clearing FTD's (unknown at the moment to anybody)