GNCC Capital Inc (GNCP)

[BigBake1]

Actually that is pure crap and the fact they posted it on May 22, 2019 and it contains stale and in some cases non existent issues is hilarious. The SBP was eliminated 5 years ago, the options clause was eliminated in 2012 and never applied to OTC Pinksheet securities. Half the bullshit claimed in "loopholes" does not even exist or in some cases invalidates his own claim that the naked short position is maintained.

The best line is this one right here:

After thirteen days, a market maker that naked shorted the shares is required by Reg SHO to buy shares in the open market and deliver them. However, before the close out requirements are triggered on day thirteen, the market maker can transfer the position to another willing market maker or broker and the thirteen-day countdown to a mandatory buy-in starts all over. This frequently used Wall Street trading technique allows FTDs to remain for months or years.

He implies that a market makers has delivered shares to a Short market maker to close their position out and assume the open position on their books.. hilarious.. Well then it is no longer an open position as shares were delivered and now magically another market maker wants to assume the risk of delivery for 13 days... lol... The only way to close the FTD is to deliver shares, "Transferring" an open position cannot occur, the broker dealers have no control on CNS, the only way to close the position is to deliver shares.

The above scenario falls flat on it's face. the whole article is a conglomeration of multiple articles plagiarized into a single piece of shit posted for entertainment purposes on message boards. Pure GARBAGE!