Axis Technologies Group Inc (AXTG)

[gekido_oushi]

Because it is on the SHO list for three consecutive days starting from day one of it being on the market. That means that a minimum of 10,000 shares per day or .5% of the authorized shares have not been delivered to the buyers and that failure to deliver has continued for a minimum of 13 trading days since the transaction. I am sorry, but if my broker cannot get delivery of my shares after three weeks they have been naked shorted to me by definition. That is what REG SHO is for. It is to notify the world of an issue being naked shorted. The fact is, that as of today, this stock has been naked shorted every day it has been on the market. Currently, the share price and volume is acting exactly like any one of hundreds of other new issues that have been heavily naked shorted





On the positive side: if someone comes and would like short AXTG, it will bring him to second thoughts knowing that he may NOT be able to deliver the share at settlement day to the buyer. Like I posted from my other message, being in REG SHO does not necessarily mean that there is naked shorting.

Here's a good one. Taken from: http://www.sec.gov/spotlight/keyregshoissues.htm


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


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, particularly those trading on the OTCBB or Pink Sheets. 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.

The Commission's Office of Investor Education and Assistance has made available publications on the Commission's Internet web site (www.sec.gov) that provide helpful guidance on the securities markets and sales and trading practices, including short selling. Investors and prospective investors should be cautious of rumors on chat rooms where the intent of nameless and faceless computer users is in doubt.