Exchange traded stocks have an additional overlord next to the SEC… the Exchange.
As for BTIG…that was a trade marking issue. Essentially a “books and records” violation. Which is why the penalty was less than $700K.
The FTD’s still showed up, the naked short positions would have still been subject to buyins at 13 days…etc.
I guess when some people learn about stuff like that they only hear what they want to hear…and then fall for the “YouTube” promoters that love to pump this nonsense. Even then, if one listens closely enough the reality is still there.
For example, there are endless YouTube videos about GameStop and naked shorting. But when one listens to it there inevitably is the reference to the short interest getting to 140% of the OS. At that point it should be clear to anyone that in fact the short interest reflects the naked short and ISN’T hidden…as in how would
anyone know that if the naked short was “hidden”?…as I have been stating all along. But I guess some people’s brains shut off and ignore that.
Despite all that, it is a moot argument anyways, as MIKP CANNOT BE SHORTED…naked or otherwise as it is a grey market stock that is not marginable, so ANY discussion of “shorts” in MIKP is pure bullshit. That is just simply a fact.
Lastly as for your experience with you and your friend owning more than the “float” of a stock….I can pretty much guarantee you didn’t. Published float numbers are rare in the OTC and are usually quite old. You were very likely
looking at a very old float number that had long been surpassed by dilution.
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