Innovation Pharmaceuticals Inc (IPIX)

[sox040713]

Not just me. FINRA thinks the daily short volume are often misrepresented on purpose.

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.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=135537542

Most of us know the real purpose of Alan's daily short sales post is to show naked shorting is a major problem in IPIX. The SEC have cautioned such activity.

11. I read on an internet chat room or website that a specific security has a large number of fails; are these sources reliable?

Investors can and should verify the number of failures to deliver in a specific security by checking publicly available data on failures to deliver. The Commission publishes on its website failures to deliver data for all equity securities, regardless of the fails level, twice per month. For current failures to deliver information, see http://www.sec.gov/foia/docs/failsdata.htm.

Investors should always be cautious that issuers, promoters, or shareholders may be seeking to stimulate buying interest by making false, misleading or unfounded statements in internet chat rooms or other such forums about alleged large “naked” short positions in some smaller issuers. Some individuals may encourage other investors to buy these issuers’ securities by claiming that there will be an imminent short squeeze, in which the alleged “naked” short sellers will be forced to cover open short positions at increasing prices. These claims in fact may be false.

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