Innovation Pharmaceuticals Inc (IPIX)

[farrell90]

The system we have for short selling has been widely abused. Collusion to take advantage of shorting excesses by investors linked by social media is no worse than collusion between hedge funds and other financial institutions to coordinate their short sales.The real problem in this case was 140% of the float was shorted.

The SEC needs to tighten its regulations for short selling. The regulations should never allow shorting a high percentage of the float; shorts should have to promptly report their positions; shorting of small capitalization stocks should not be allowed;
"borrowed" shares should require compensation to the owner of the shares and naked short selling should punished with fines and criminal sentences.

It is time for the SEC to step up.

GLTA Farrell