Marani Brands Inc. (MRIB)

[Matthew Berg]

I don't disagree that the MMs are given some leeway but I don't believe it is termed "naked" which I think is part of the confusion. The shares as I read it in the regs are marked simply "short" with or without a SHO locate until physically delivered. If there is no locate, the MM can still execute with the "short" marking as long as there "is a reasonable expectation of locating available shares." The term naked would represent no physical delivery, no locate and no reasonable expectation of delivery.