Thursday, January 27, 2011 3:03:50 PM
If you don't know what naked short selling is, know that it is illegal, and causes what is know as failures to deliver (stock) and lands you on the Nasdaq list of so-called “threshold securities”, a nicer name for stocks sold short illegally. Look up naked short selling on Google. Check the Nasdaq list of “threshold securities”, published daily in compliance with the U.S. Securities and Exchange Commission’s Regulation SHO as reported on Bloomberg. You can find the link on Yahoo Finance under BSGC News. That is the kind of publicity we are getting. Thank you management, NOT!
BSGC has been on this blacklisted list for two days. The damage to the stock price is of course already done. The email to report this illegal activity is enforcement@sec.gov.
In the last 30 trading days more than 75 million shares were sold at prices from $.063 down to today’s low below 2 cents. A good portion of that selling was illegal naked short selling. I think the SEC winks at it but if enough people complain they will take a look at who is behind this illegal trading in BSGC.
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