Thursday, April 12, 2018 4:43:40 PM
In the OTC market, Form T trades are mostly the result of accumulated buys or sells handled on a not held basis by block desks, otherwise known as 'late prints.' They have nothing to do with short-selling. Large blocks of shares may not all be sold in a single day, so a broker or market maker would file a Form T for the remainder of shares listed at the average price that day's shares sold for as if they all had sold. If all the shares had sold in that one session, the transaction would have been recorded normally.
Read more: Form T https://www.investopedia.com/terms/f/formt.asp#ixzz5CUY3Bqx7
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In essence it is a trade (or group of trades) that MM's don't record until after the closing. There is no OTC aftermarket trading and they are required to report all trades. MM's can hide trades like these and make them look like either a buy or sell if they want. My interpretation of the situation here is that an MM (or more than one) is able to buy a large chunk of shares for a set/known average (below the BID) either from other MM's, the company, or maybe those two debtors that were paid with a couple billion shares of stock in lieu of cash. They then short the market in the same volume down to their cost factor. The average cost for this t-trade was .000597. They shorted at both .0007 and .0006. They sold about 25,000,000 shares at .0007 and close to 100,000,000 at .0006. In the meantime they covered with 120,000,000 shares at the average of .000597. So we all see 120,000,000 shares sold and they can cause panic and trigger sell stops, but in reality this was a 1:1 buy:sell which gave them profit with essentially no risk. The fact that they are still t-trading everyday means that they have more shares to do this with (IMHO).
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