Don't want to hijack topic but my post on FINRA got flagged. I am interested in your read of the trading halt of MMTLP two days before the ticker was supposed to be deleted. Previously trading was supposed to go on until the 12th, investors could sell. But after FINRA halted the trading, investors were left with the shares to be converted to a new company shares at some future date. https://investorplace.com/2022/12/investors-petition-for-fin...
They had a death spiral PIPE deal, but they paid off the loan. The company was (edited: almost) shorted to death in the months during they had the loan.
So I wrote a post in haste and deleted it, here is a more reasoned response.
If you want definitive proof, you need to see sell tickets. That is what our whistleblower reports to the SEC have been requesting. I do not have sell tickets.
I wrote this as a response before: my biggest proof was that over the past year, if I tally up the number of uncovered short sales it is more than 2M. How do I know that these sales are uncovered? If there is any day with more than 50% shorting, I know that the short cannot have covered. If I tally up the differences, I get at least 2M uncovered over the past year. This model assumes that the short covers the same day (which we can see from tape they do not).
Even if they did cover the same day, they are still short 2M shares uncovered.
I was mistaken with "short ladder attack" - I should have said short attack. The price action is strange. A bunch of selling say happens at one price point, and then the seller reduces the price by 10c and offers a huge lot. When we try to take the wall, the offer is withdrawn. We have definitive proof of spoofs that were withdrawn like this.
1 and 2 are very relevant to the current discussion. Since the toxic lender has done exactly this to other companies. As soon as a loan is given, they short the company to shit. Except here the company returned the loan. They have been fined by the SEC for similar behavior before and this playbook is seemingly related. The closest is (Badian and Sedona, https://www.sec.gov/news/press/2003-26.htm).
So it is not inconceivable that this is happening here.
I have screenshots that I have submitted to the SEC. I can share them with you.
Like I said, I understand the OTC is ridden with fraud. And this may well be the case here and I fully admit I may be wrong.
Thank you for the advice. This is a little special because the owners of the loan company have been fined by the SEC for precisely the naked short selling I am accusing them of (without revealing them, an unrelated case is https://www.thestreet.com/investing/stocks/sec-charges-filed...). Naked shorting a stock to 0 and claiming tax benefits is what some of these toxic lenders do. I am invested only in the amount I can afford to lose. But I would like to not lose even that :-) so will heed your advice.
Another huge red flag: a warrant for share dividend was distributed with a strike price that would make 1/10 the number of short sales held by the short added to his burden. When the warrant price hit, the short sold 600k shares in a few minutes to get the price down.
Not gamestop, I said OTC. There is no way to prove naked shorting or wash trading without access to sell tickets. But the signs are there. I added some more of these details in my post of chollida1.
I agree that there are conspiracy minded folks who get stuck in the rut here. I am worried of course that I somehow stumbled on one. Please see my response to chollida1 which has some more color.
You have every reason to be skeptical of my claims. I will not share the ticker since that would mean I am trying to get publicity. Another poster said that you don't know for sure whether it is naked shorting or wash trading. He is correct and I don't have mathematical proof. But there are enough signs:
1) Company had debenture that was paid off early to toxic lender
2) Toxic lender has been caught and fined by the SEC in the past
3) There is always someone selling below the last market price in this thinly traded stock.
4) Every day the stock is walked down by short ladder attacks.
5) If we model the problem like this, lets say > 50% was short volume, then they could not have covered the same day. Accumulate this over a year. There are over 2M uncovered short sales.
6) Every day like clockwork at close the stock is marked down. We surmise it is because of margin (calculations like 5 are just modeling, we think he is short 10s of millions of shares).
7) Company got a call leaked by the toxic lender trying to raise money. Call was leaked.
8) Wash sales are trickier to prove: but we notice odd lot orders trading without appearing on L2. I have many screenshots that show this.
Notice I am not 100% sure myself. I am a computer scientist who got caught in this and question my sanity sometimes (as someone else posted a while back, there are many groups who obsess and conspire over this).
I (along with other) have been filing whistleblower reports on blatant price manipulation on an OTC stock for the entirety of last year (about 30 reports of naked short selling, wash trading). Not one peep from the SEC. It's been eye-opening to see the amount of fraud in the financial markets that goes unchecked. Sometimes I question my sanity that I persist in this stock and whether what I see is illegal. Good to see that they are going after bigger fish, letting the smaller ones go.