Naked shorting - Market ManipulationSo as I have previously posted I participated in the private placement of ScreenPro back in the early fall. I have been simply amazed with volume out the gates. ScreenPro was up listed and started trading last Friday and approximately 45M shares have been traded.
Please keep mind ScreenPro purchased a shell corporation Compel Capital and that shell had 330M shares attached to it, so part of the process is that the private equity shareholders of ScreenPro would have their ScreenPro shares pro rated at about 4.68 to get to the Compel Float. The news release indicated the transfer should be completed by March 15, 2021
This current volume is truly amazing considering the fact that I have yet to receive my transfer documents with new shares, so in essence I cannot sell any. I have spoken to a number of other investors who also stated they have not received theirs , so it would be safe to assume that most of the investors who participated in the private placement also have yet to receive theirs.
So the million dollar question is how have we traded 45 M shares in the first three days. I know that IRROC has been contacted and a complaint filed.
This is market manipulation we have people selling shares that they do not have in their possession nor can the provide shares upon the required 2 day period.
This will come to pass but I think a few nefarious individuals new they could take advantage of the situation. The fact remains shares could only be offered if one has possession of them.
I look forward to the short squeeze and suspect their are few houses that have some explaining to do to IRROC.