Paychest Inc (PYCT)

[hop]

PYCT and some interesting material.

It could effect PYCT as well as all other securities in the market. I believe that PYCT has been the victim of NSS (or selling of so called "Phantom Shares").

If this is the case (and we can suspect), the squeeze could really raise the pps in a hurry.

http://www.cato.org/pubs/regulation/regv31n1/v31n1-7.pdf

http://www.sec.gov/comments/s7-19-07/s71907-336.pdf


Naked short selling involves selling without first borrowing
stock (or even locating stock to borrow). If a naked short seller
does not borrow the stock he sells, he will be unable to
deliver that stock to the buyer to settle the trade. Intentional
naked short selling is illegal, though market makers are currently
allowed to naked short temporarily when engaged in
bona fide market making. (Even market maker ftds, how ever,
are illegal when delivery failure exceeds 13 days.)