Identa Corp (IDTA)

[garagist]

Vits, naked shorting is illegal in general but not for the MM's.This is allowed by the SEC to make a regular market.
However there is a time limit in which they have to settle and I'm not sure how long that is. I do know that it is a matter of days and not weeks or months. If they don't have the shares by the due time, they buy them from another MM to cover.So now the other MM is short and buys them back in due time from yet another MM. This process can continue endlessly, because there are plenty of market makers. Since the SEC can not control every move of every market maker, the naked short selling rule is abused by the MM's on a regular basis. Once the company has sold the publicly available shares to the MM's, they have lost any and all control over the pps