Delcath Systems Inc (DCTH)

[Rapture2020]

Naked Short Sales

https://www.sec.gov/answers/nakedshortsale.htm

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.

As a result, the seller fails to deliver securities to the buyer when delivery is due; this is known as a "failure to deliver" or "fail."

SETTLEMENT # FAIL TO DELIVER PRICE AMOUNT
2017-11-10 231,305 $2.18 $504,245
2017-11-20 1,623,353 $0.65 $1,055,179
2017-11-30 1,747,797 $0.12 $209,736
2017-12-04 2,637,662 $0.07 $184,636
2017-12-06 6,738,756 $0.06 $404,325
2017-12-20 1,499,991 $0.06 $89,999
2017-12-21 4,350,241 $0.05 $217,512
2017-12-26 4,330,276 $0.05 $216,514
2018-01-04 8,102,233 $0.05 $405,112
2018-01-10 3,500,006 $0.04 $140,000
2018-01-12 5,669,814 $0.04 $226,793
2018-01-18 5,000,051 $0.04 $200,002
2018-01-24 7,713,444 $0.03 $231,403

The total amount is $3.7M but I have not yet discounted the aggregate calculation of Fails to Deliver for each month, but $2M+ is an entirely defensible number, IMO.