InvestorsHub Logo
Followers 45
Posts 6644
Boards Moderated 5
Alias Born 07/11/2001

Re: johnsyn post# 6935

Thursday, 06/09/2011 10:35:52 PM

Thursday, June 09, 2011 10:35:52 PM

Post# of 31706
johnsyn, I have read this whole article several times. I do understand the English language but not Lawyer speak. Maybe someone could put this in terms that anyone can understand. Tomorrow is day 13. So whether it is 5 days, 10 days or 13 days if there is a massive short position according to what I read hear, it has to be covered tomorrow. So by the end of the day tomorrow we should know if the MM's follow SEC rules, policies and procedures. I already know the answer. They don't, especially when it comes to off the radar pennies.

At .03 per share there would have to be 1.666 million shares short for this rule to kick in (as I read it $50,000 worth of stock) So what happens if there is only 1.665 million shares short??? How about if there is only 9604 shares short as the web site shows???

I have talked with the transfer agent, the company, my broker and FINRA and noone seems to know how you determine the actual short position nor does anyone seem to know how to interpret and or enforce this ambiguous SEC document. Maybe you can shed some light on it.