Innovation Pharmaceuticals Inc (IPIX)

[MinnieM]

I reached out to FINRA yesterday and amazingly, I received a response this morning.

My note to them:

I'm seeing the following posted daily on many stocks. Please clarify what this data is actually saying since I don't believe that 32% of the volume was actual short sales. This data appears to be used to scare investors into believing specific stocks have serious shorting issues.

FINRA short sales of IPIX
20171018|IPIX|52063|0|161293|O
32% of today's volume was short sales!
Go IPIX!!!
regsho.finra.org/FORFshvol20171018.txt

Thank you for your help.

Their response to me:

Dear Ms. xxxxxxx,

Thank you for contacting FINRA’s Office of the Ombudsman. Regarding your question, it would be incorrect to assume that short sales comprise 32% of the total volume on that trading day for IPIX. FINRA publishes the daily short sale volume pursuant to an SEC mandate; however, there are various trading anomalies that result in the reported short sale volume often being exaggerated. Thus, the true total short sales volume may be significantly lower than the volume that is reported. Third parties sometimes ignore this and try to claim the ratio is valid to further their own objectives.

It is a bit complex to explain via email. If you would like to discuss it, please call me and I can explain further.

By way of background, FINRA’s Office of the Ombudsman provides a neutral and confidential forum for member firms and their employees, public investors, and any other business or individual who interacts with FINRA to voice their concerns about operations, enforcement, or other FINRA activities or staff. Individuals who are unsure of the proper channel for addressing a concern or feel that the issue cannot be resolved through other channels may also contact the Ombudsman’s Office. Additional information can be found online at: www.finra.org/about/office-ombudsman.

Upon conclusion of your contact with FINRA's Office of the Ombudsman, if you have feedback on your interaction, please take our brief, anonymous survey at https://www.surveymonkey.com/s/FINRAOmbudsman. All information you provide is strictly confidential and will not be attributed to you in any way.

In Reply to 'AlanC'
FINRA short sales of IPIX
20171018|IPIX|52063|0|161293|O
32% of today's volume was short sales!
Go IPIX!!!
http://regsho.finra.org/FORFshvol20171018.txt