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Microcap & Penny Stocks : DCI Telecommunications - DCTC Today
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To: Juli who wrote (6893)7/20/1998 2:59:00 PM
From: James Harold Alton  Read Replies (1) of 19331
 
Juli, Sure, be glad to within what I know about this. (G) It's my understanding that it is illegal to short DCTC in the US because it is a BB stock. Do you remember last spring however when some evidence indicated that we did have a short position and it was tracked back to Canada? In Canada it is legal to short BB stocks, though from what I understand the only shorting that we actually had in our stock was by Daily, who was shorting "against the box" for shares he was due but had not recieved. The last I heard was that this short position had been covered and that there was no other evidence to my knowledge that there had been any "naked" shorting other than what our MM's had done. I do not fully understand the process, but by declaring a dividend it creates a paperwork trail that reveals short positions since the company is only responsible for paying the dividend on the total outstanding shares and when there is shorting outstanding is temporarily increased. I hope that this helps.

James
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