"brought in" here on behalf of another"
Are you paid by the hour, or pro bono?
An attorney taking an interest on behalf of interested parties can mean any number of things. I take it the other party is an individual and not a representative of any government, or agency such as the DTCC, correct? You obviously spent a lot of time and detail in answering my post, which I appreciate..
"But do have direct experience with companies who use concepts like "evil shorts", "paid bashers", and such to deflect attention from their own lack of success. It really isn't uncommon in the OTC world, though I'll be the first to concede that MDMN has been in this game for a lot longer than most."
I don't see that game being played here, just facts:
From January 3 to January 14 there were 155,665,040 shares traded.
Less than 1% of total volume is reported legal short position.
Total shares traded during January were 293,651,566!
February had 40,538,675 daily Failure To Delivers out of 86,369,247 total shares traded. That's nearly 47%! March was nearly as bad with 38,038,648 daily FTDs out of 76,693,290 total shares traded for the month. That's right, nearly 50% Fail to Delivers at the end of each day in March! But those aren't considered "legal shorts".
There were 806,506,913 shares traded during 2010 and 557,460,587 traded during 2009. There were 22,882,772 reported as "Fails" in 2010 and 42,089,888 "Fails" in 2009.
An attorney will appreciate the following definition from the SEC:
"A "naked" short sale, the seller does not borrow or arrange to borrow the securities in time to make delivery to the buyer within the standard three-day settlement period. As a result, the seller fails to deliver securities to the buyer when delivery is due (known as a "failure to deliver" or "fail").
Failures to deliver may result from either a short or a long sale. "
The "seller" is a Market Maker. The "buyer" is also a Market Maker. Individuals don't short pink sheet stocks. Fail to Delivers are what you see on the OTC Markets board, from MMs only, after the 13 day rule has passed and are true legal shorts. You may find the daily FTD report (3 day rule) on the RegSho Board, also known as the daily FTDs, which is a very different number and report from the "short sale report" seen on otcmarkets.com.
Naked short sales just aren't reported.
Invested in the Mountain...
and that's what counts, IMO!
Easy
