"The broker sold shares that he does not have and are not "available" to "borrow" so they can't be delivered."
So, where are all the FTD's??
SEC:
Naked short selling is not necessarily a violation of the federal securities laws or the Commission's rules. Indeed, in certain circumstances, naked short selling contributes to market liquidity. For example, broker-dealers that make a market in a security generally stand ready to buy and sell the security on a regular and continuous basis at a publicly quoted price, even when there are no other buyers or sellers. Thus, market makers must sell a security to a buyer even when there are temporary shortages of that security available in the market. This may occur, for example, if there is a sudden surge in buying interest in that security, or if few investors are selling the security at that time. Because it may take a market maker considerable time to purchase or arrange to borrow the security, a market maker engaged in bona fide market making, particularly in a fast-moving market, may need to sell the security short without having arranged to borrow shares. This is especially true for market makers in thinly traded, illiquid stocks such as securities quoted on the OTC Bulletin Board, as there may be few shares available to purchase or borrow at a given time.
The otcmarkets short interest page gives direct data concerning tytn (as many other equities)twice a month.
Shows no "excessive" FTD's in tytn.
One interesting thing it does show is the "average daily share volume" and time frames...
Pretty much shows the volume from the 504's (early 2011) thru the raise in A/S and the eventual effect of the T4T status (now).
Remember 1 thing, failure to delivers can trigger on each side of the trade.
Lack of shares delivered as well lack of funds.
Funny, It's always the largely diluted penny plays that cry "phoney shares" the loudest...... I guess thats what happens when common shareholders have no say in any corporate actions...
AS you know as you read this YTO IS gearing up to accommodate the suggested requirements ML and YTO have agreed upon. / Now watch closely as we approach $1 & share after the R/S.
Untill there are significant sales being produced as a direct result of these "suggested requirements"....... It means nothing to the investers lead into the lowering side of the pump and dump enacted mid May 2011.
Koolaid is as Koolaid does.....
A buck a share says the company will be valued at 22+ million dollars post RS. People believe this? It'll be a milestone if the co reaches 2 million in sales a year nevermind being traded overvalue short of a contrived pump.(that would have to be one helllllllllll of a pump imo)
5 business days left till full yr 2011 report due... will it be filed on time or late?
:)
