After several months of legal proceedings against the Berlin-Bremen Stock Exchange for refusal to delist "PRVB" I am now happy to report this Exchange has, as of today officially given "PRVB" notice of delisting with a time limit of Sept 28, 2007
This listing of PRVB shares came from a German brokerage firm and without the permission of PRVB
This listing was without the companies' knowledge, consent or authorization. The listing which came in 2004 appears to be part of an effort by domestic and foreign brokers to circumvent the 2004 NASD against "naked short selling"
Naked shorting involves groups of people working together to manipulate the market by selling non-existent shares of stock in an effort to force a company's share price to go down. By listing the US companies' shares on the Berlin-Bremen Exchange, short sellers sought the benefit of an "arbitrage." apparently utilizing clearing facilities of US based Depository Trust Company that none of the current regulations are designed to close.
Also, PRVB & EDS are both working with legal authorities regarding false and misleading April 2007 ****s on Google Finance and Raging Bull Message boards which in fact caused a sell off of our shares. Direct threats were also made to our offices and personal cell phones. PRVB & EDS intends to prosecute both criminally and civilly. A Press release will be sent to the PR news wires once formal charges are made.
In other fronts,the fundamentals of PRVB have never looked better. The Company continues to buy back shares in the open market.
The Company is working on putting together a Board of Directors.
There will be more news on other new wells and other properties. The Company has come a long way from when it was a penny just three years ago.
Your CEO Brian Fox invested millions of his own dollars to make this Company work and now very profitable.
We here at EDS wish our loyal readers and followers a very happy and safe Summer season.