One last time. There was no short interest on fndm two weeks ago when I called finra and there were only 2,000 shares short as of Oct 29 per the OTC website, as stockguard pointed out. I do not know what finra told stockguard on the phone but assume it was the same as reported on the OTC site. The OTC gets its information directly from finra and finra gets it information twice per month from the companies. The daily reports by finra do not show the short interest, only the short volume for the day and only one side of the tape. So when it shows 500 shares short on a particular day, and when finra says there is no short interest, it means the shorts were covered within 60 seconds, which i understand is the time the market maker can legally sell shares short that it it does not have and then cover them - 60 seconds. And no, finra does not ignore short interest on OTC stocks, rather, it receives the short interest reports from all companies on all exchanges 2x/month. Those firms are legally required to report short interest positions through a single source on a bi-monthly basis, namely, FINRA's Web-based Regulation Filing Applications (RFA) system. The Oct 29 date on the OTC short interest data coincides with the last business day of the month, the day when the end of the month short positions must be reported. Moreover, if there was this huge short interest that you reported a month ago, it would have to have been covered long ago and the SP would have been driven up to extreme levels. That never happened, confirming what finra told me and presumably what it told stockguard also. Yes, it would be nice for there to be huge short interest as frosting on the cake and maybe that will occur if the company with which fndm will merge has such huge short interest, which I believe is the case.
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