I agree many times that naked shorting exists in IPIX, but barely according to the SEC. Just like AMBS, Leo decided to change the company name and CUSIP # to expose naked shorting on June 9, 2017. The total volume after the name/CUSIP # change (+3 days) was ~1.625M shares, which indicated the covering was by legal shorts because legal short interest was ~1.2M shares at that time. If naked positions were 10M shares (hypothetical), the total volume would be more than that because naked shorts must cover.

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When AMBS changed its name, there was immense volume on the Hamburg exchange, and the share price rose dramatically.

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