Paychest Inc (PYCT)

[lloydm]

Trum,

which one are you saying is not being done, Short or Naked Short? You seem to refer them as the same.

http://www.sec.gov/investor/pubs/regsho.htm

A. What is a short sale?
A short sale is generally the sale of a stock you do not own (or that you will borrow for delivery).[1] Short sellers believe the price of the stock will fall, or are seeking to hedge against potential price volatility in securities that they own.


II. “Naked” Short Sales
In a “naked” short sale, the seller does not borrow or arrange to borrow the securities in time to make delivery to the buyer within the standard three-day settlement period.[3] As a result, the seller fails to deliver securities to the buyer when delivery is due (known as a “failure to deliver” or “fail”).