Spongetech Delivery Systems, Inc. (fka SPNGQ)

[starfire]

Short Sale Definition:

A short sale is a sale of a security that the seller
does not own or any sale that is consummated
by the delivery of a security borrowed by, or for
the account of, the seller. To determine whether
a sale is a short sale, members must adhere to
the definition of a “short sale” contained in SEC
Rule 3b-3, which is incorporated into NASD’s
short sale rule by NASD Rule 3350(k)(1).

http://www.finra.org/web/groups/industry/@ip/@reg/@notice/documents/notices/p003024.pdf

Take this quiz and brush up on your knowledge...........
http://apps.finra.org/quiz/1/investorquiz.aspx

And finally take a look at this.....according to FINRA only Customer accounts with Short Positions get reported. That leaves out 'house' and 'proprietary' accounts. I guess proprietary accounts are those accounts that deploy 'proprietary' trading strategies. So you get the drift...if you didn't then here it is...the Short sales reported need not represent the total Short sales outstanding....IMO.

http://www.finra.org/Industry/Compliance/MarketTransparency/INSITE/FAQ/P005933

And finally, I believe the below definition is wrong.....

This is because I believe that the FINRA calls a sale without a buy in the open market a short, when that could also be a company dumping shares(Dilution). I could be wrong, shoot me down if I am.