Spongetech Delivery Systems, Inc. (fka SPNGQ)

[k9narc]

Short numbers are a joke.....I think a poster explained it best here.

"The FINRA daily short reports requires a broker to list shares as shorted when the broker hasn't completed the transfer of securities to the buyer's account by the end of the sale day. The security transfer is almost always completed within ten business days. However, when the securities are finally delivered, the daily report is not corrected. If you add the daily volumes and compare to the semi-monthly numbers you'll see the semi-monthly numbers are much smaller. See

http://www.otcbb.com/asp/OTCE_Short_Interest.asp



A high daily short percentage is typical of most penny stocks on the daily FINRA report. This just reflects the fact that the number of trades a given MM is involved with daily is small and the MM is representing the seller about half the time (and has to deliver stocks to another MM about half the time and so shows a short percentage of about 50% that day)."