Here's SEC's definition of naked short sales.
In a "naked" short sale, the seller does not borrow or arrange to borrow the securities in time to make delivery to the buyer within the standard three-day settlement period. As a result, the seller fails to deliver securities to the buyer when delivery is due; this is known as a " failure to deliver " or "fail."
https://www.sec.gov/answers/nakedshortsale.htm
You claim there are millions of naked shares out there, but according to the SEC, only 903 shares (0.0007% of the OS) were failure-to-deliver as of June 15.
20170615|45782D100|IPIX|903|INNOVATION PHARMACEU|0.74
https://www.sec.gov/help/foiadocsfailsdatahtm.html
IMHO this is the strongest proof that naked short selling is almost nonexistent in IPIX. If we are in court, this would be my closing statement.
In a "naked" short sale, the seller does not borrow or arrange to borrow the securities in time to make delivery to the buyer within the standard three-day settlement period. As a result, the seller fails to deliver securities to the buyer when delivery is due; this is known as a " failure to deliver " or "fail."
https://www.sec.gov/answers/nakedshortsale.htm
You claim there are millions of naked shares out there, but according to the SEC, only 903 shares (0.0007% of the OS) were failure-to-deliver as of June 15.
20170615|45782D100|IPIX|903|INNOVATION PHARMACEU|0.74
https://www.sec.gov/help/foiadocsfailsdatahtm.html
IMHO this is the strongest proof that naked short selling is almost nonexistent in IPIX. If we are in court, this would be my closing statement.
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