Answer it again...
Who compiles the OBO/NOBO reports? The TA, correct?
What information do the reports contain?
NOBO: The names, addresses, and number of shares held by each individual investor.
OBO: The names of the brokerages that hold custodian shares for their clients and the number of shares they own.
OBO + NOBO = OS!
If OBO + NOBO > OS... then naked shorts exist!
So OBVIOUSLY the TA (and the company) would know if there actually were naked shorts!
This ain't rocket science, and investors aren't stupid!
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