posted
Here is a Company that has the ball to fight. NNS can and does KILL a company. Company XXXXX reports that after reviewing the company's stock with an independent analyst, there is an illegal naked short interest position of approximately 3.5 to 4 million shares. This is in very sharp contrast to the OTCBB.com report showing the short interest to be 23,972 shares as of May 31, 2007. NASD Rule 3360 has been expanded to require NASD member firms to report their short positions on all over-the counter ("OTC") equity securities to NASD Regulation, on a monthly basis. Once the short position reports are received, the short interest is then compiled for each OTC security.
Firms are required to report their short positions as of settlement on the 15th of each month, or the preceding business day if the 15th is not a business day. The reports must be filed by the second business day after the reporting settlement date. The short interest data is compiled and provided for publication on the 8th business day after the reporting settlement date.
We are working diligently with a third party advisor to bring attention to our company, and to correct this serious problem. In late April 2007, the company's stock fell abruptly, cutting the price per share in half. The selling pressure has continued and we believe there is a very large illegal short interest position in XXXXX. This is a major concern for our company and our shareholders who are of utmost importance to us. That is why we recently hired an awareness group in an all out effort to correct our stock. Another issue I would like to address would be the current share structure. OTCBB.com and most other quotation service providers do not show the correct number of issued and outstanding shares for XXXXX which is 32,500,000 not 72,000,000. We will be contacting OTCBB.com immediately to update them.
-------------------- "Reality is the leading cause of stress amongst those in touch with it." Posts: 58 | From: Canada | Registered: May 2006
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posted
Red Flag 1: Blaming shorts for stock price decline Red Flag 2: Hiring a third party to "bring attention to our company" = pump/dump service Red Flag 3: Independent Analyst "approximate" short share count could be form one of those services like buy ins . net, which are pure BS.
I'd run from this company as quickly as I could.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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