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Mythology

I care what the company says regarding naked shorts and or any other information that may reflect in the share price now or in the future.

I have not interest in an incomplete share count that proves nothing one way or the other. If only 30% of the investors responded then the data is useless and provides nothing. The amount of shares reported means nothing in relationship to anything so crunching numbers and issuing a statement about useless data is a waste of time and company money.

Their statement about naked short selling of Cardigenics covers it all:

"Our stockholders ownership of our common stock may be in doubt due to possible naked short selling of our common stock .

We believe, but cannot confirm, that speculators may have engaged in a practice commonly known as a “naked short” sale of our common stock, which means that certain brokers may be permitting their short selling customers to sell shares of our common stock that their customers do not own and may have failed to borrow and therefore deliver the shares sold to the purchaser of the shares. We have from time to time been included by NASDAQ on the Regulation SHO Threshold Security List, which is indicative of a significant amount of naked shorting in the stock. Because naked shorting may result in an artificial depression of our stock price, our stockholders could lose all or part of their investment in our common stock. As a result of this naked short selling, there may be a substantial number of purchasers who believe they are our stockholders, but who in fact would not be stockholders since their brokers may never have received any shares of our common stock for their account. In addition, investors who believe they are our stockholders may not have received a stock dividend to which they are entitled or may have been deprived of the right to vote some or all of their shares."

I know of someone a while back, as a matter of fact, that asked for a deliver of their JAGH shares and could not get them delivered because the broker did not have the shares. They contacted Finra which then forced a buy in of a block of 50,000 shares (equivalent to 500,0000 shares today) to get delivery of their shares. That is why I know and believe that the naked short issue exits.

If you are concerned about naked shorting and or short sales of your stock and have a margin account or margin agreement you can contact your broker and ask that your Cardiogenics shares or any shares not be loaned out. Shares in a cash account cannot be lent.

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