The shorts on SGR never seem to go much above the million mark and seem to fluctuate around events like options, warrant conversions and PP's. I believe this is fairly normal activity for this to happen and I suppose the only risk to your certificates would be if your broker shorted them and then they went out of business. Most of my shares are in a Dundee wealth management account so it would be difficult for them to say they don't have any shares. lol