Paychest Inc (PYCT)

[superstop]

They were not entitled to the market maker exception to Regulation SHO because the short sales were not made in connection with bona-fide market making activities
Yes it does have to do with PYCT, they never did cover, they naked shorted the stock and ran with the money, in other words they were just an example on many ILLEGAL CROOKED BROKERS this is what I believe happened to PYCT and MLON of course when the PPS was higher
The Wolfsons did not locate the stock before the sale, nor did they deliver the shares when sold or make a bona fide purchase of the stock when required to close out their resulting fail-to-deliver position. They were not entitled to the market maker exception to Regulation SHO because the short sales were not made in connection with bona-fide market making activities.