Starfleet Innotech Inc (SFIO)

[cjstocksup]

SFIO shorts better read the rules! 3 day cover.


short rules

http://www.finra.org/Industry/Compliance/RegulatoryFilings/ShortInterestReporting/

Effective June 30, 2008, firms must report short interest positions in all securities—including NASDAQ, NYSE Alternext US LLC,1 NYSE, NYSE Arca and OTC equity securities—through a single source on a bi-monthly basis: FINRA's Web-based Regulation Filing Applications (RFA) system (see Regulatory Notice 08-13). Firms are reminded that they must designate each issue symbol contained in their short interest reports with the correct exchange/market code.

http://www.sec.gov/news/press/2008/2008-204.htm

"Hard T+3 Close-Out Requirement; Penalties for Violation Include Prohibition of Further Short Sales, Mandatory Pre-Borrow
The Commission adopted, on an interim final basis, a new rule requiring that short sellers and their broker-dealers deliver securities by the close of business on the settlement date (three days after the sale transaction date, or T+3) and imposing penalties for failure to do so." Daily short sellers have 3 days to cover. Its a normal course of business. The best way to observe a true short position is to check the bi-monthly data.

Shortsqueeze.com and otcmarkets.com both provide bi-monthly data on short sales.