Replies to post #170243 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[CYRXorbust]

How do you know failures to deliver are occurring and that Overstock's stock is being naked shorted?

Both the NYSE and NASDAQ say that it is. The SEC now requires the NYSE and NASDAQ to publish a list, updated daily, of companies whose stocks have unusually high volumes of trades that fail to deliver. The list is called the Reg SHO Threshold list, and under Reg SHO, no company should be on the list for more than 13 days: Overstock has been on the list for more than 200 days.

http://investors.overstock.com/phoenix.zhtml?c=131091&p=irol-lawsuits

[morley480]

I am guessing that a typical OTCBB company that is in the long steady process of going down the drain (as many OTCBB) could be on the Reg Sho list for a long time, as there is no need for the shorts to cover. No need for the SEC to devote resources to them (whether they should or not).

With an occasional exceptional company like SPNG that is actually going to go up, dangerous to be short. Shorts will be forced to cover at some point by margin calls, etc.

Anyone, correct me if I am wrong. Just a semi-educated guess.

[Krykuss]

Yes they can be on there for a long time, Overstock ceo Patrick Byrne talks at length about nss...just youtube it and enjoy. Spng being on otcbb has several options to force nss covering. Should be interesting to watch but will be much better to be in it when it happens.

glta

[TigerTrader83]

Here is the list from Aug 13. As you can see you can be on there quite some time, max i see is 149 days:

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=avrRQKFRrZRY:

# of Consecutive
Ticker Security Name Days on List
===============================================================
AAXJ ISHARES MSCI ALL COUNTRY ASIA 73
ACWI ISHARES MSCI ACWI INDEX FUND 5
AGIBY ANGLO IRISH BANK CORP PLC ADR 23
AMAR AMARILLO BIOSCIENCES 5
APWR A-POWER ENERGY GENERATION SYST 1
BEHL Biocentric Energy Holdings, In 5
CCTR China Crescent Enterprises, In 22
CGYNQ CAPCO ENERGY INC NEW 149
CIBEY COMMERCIAL INTERNATIONAL BK LT 34
CLST CELSIA TECHNOLOGIES, INC. NEW 5
CSKH CLEAR SKIES SOLAR INC COMMON S 21
DGIF DIGITAL INFO SEC CO (DE) 1
DGLP DigitalPost Interactive, Inc. 7
ECIFY Electricite de France SA Unspo 2
ELTK ELTEK LTD 4
FMDAY FUTUREMEDIA PUBLIC LIMITED CO 7
GSCB GREATER SACRAMENTO BANCORP 2
HBMFF HUDBAY MINERALS INC 11
IMED IMEDIA ITNERNATIONAL INC NEW 1
KATX KAT Exploration Inc Common Sto 1
LDIFF LANDDRILL INTERNATIONAL INC OR 10
PALAF PALADIN ENERGY LTD ORD SHS (AU 9
QTEC FIRST TRUST NASDAQ 100 TECHNOL 3
RYCEY ROLLS ROYCE GROUP PLC SPONS AD 4
SGAS Sino Gas International Holding 1
SPNG Spongetech Delivery Systems, I 15
TBLMY Tiger Brands Ltd Sponsored ADR 5
TKGBY TURKIYE GRTI BK SPN ADR 6
VETSW PET DRX CORPORATION WTS 3/17/2 2
WATG Wonder Auto Technology, Inc. C 8
XNOM XENOMICS INC. 20

[Mr Mackey]

CGNYQ has been on it for 154 days...

http://www.buyins.net/tools/short_list.php?dys=%3E12

SPNG is a relative n00b at 20 days.

From reading the various sec info links people have provided, it sounds like you could ping pong an FTD around for quite some time...