SAPX is off the Reg SHO list now...but those unregistered shares sold won't be sold by the company...they would be sold to satisfy naked shorting...
That's still not to say heavy dilution is going on now imo...
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As defined in Rule 203(c)(6) of Regulation SHO, a “threshold security” is any equity security of any issuer that is registered under Section 12 of the Exchange Act, or that is required to file reports under Section 15(d) of the Exchange Act (commonly referred to as reporting securities), where, for five consecutive settlement days:
There are aggregate fails to deliver at a registered clearing agency of 10,000 shares or more per security;
The level of fails is equal to at least one-half of one percent of the issuer’s total shares outstanding; and
The security is included on a list published by a self-regulatory organization (SRO).
A security ceases to be a threshold security if it does not exceed the specified level of fails for five consecutive settlement days.