A stock exchange isn't responsible for tracking how much outstanding stock there is. The purpose of an exchange is just to match orders, not to determine if the

A stock exchange isn't responsible for tracking how much outstanding stock there is. The purpose of an exchange is just to match orders, not to determine if they are insane. Expecting otherwise would be like expecting eBay to determine that your buy it now price is too low or that you don't have enough inventory on hand to fulfill your listings.