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*** BTLY Naked Short Squeeze & More Coming Soon ***
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[QUOTE]Originally posted by FlyWolf: [QB] [QUOTE]Originally posted by Mav: [b]Mach, that is a good move. I am in deep DD on all these topics, and i will keep you posted. If anybody wants to read more about naked short selling please link to: [URL=http://www.nakedshortselling.com/pdf/NAANSS_Report_Mar03.pdf]http://www.nakedshortselling.com/pdf/NAANSS_Report_Mar03.pdf[/URL] [This message has been edited by Mav (edited January 10, 2004).][/b][/QUOTE] I found an article concerning a company who similarly tried to fight off the naked shorts by changing their name. However, it appears the brokerage community found a way to navigate around it.... or so it seems. What's the likelyhood of something like this happening to BTLY?: ON THE MARKET onthemar@yahoo.com 212-713-5793 How the Jags fought back against the naked shorters is a testament to their moxi. JAGNotes first did an official name change to Jag Media Holdings (JGMHA), then had the certificates sent to shareholders removing them from the short borrowing pool. [b]However, the brokerage community did simple journal entries and never delivered the 'real' certificate shares. [/b] Subsequently, Jag had no choice but to bring in the infamous *John O`Quinn to force the hand of the Wall Street titans in federal court and hold the potential fraudsters accountable for further perpetrating the existence of the 'vapor' shares. In the interim Jag requested that the (JGMHA) shares be removed from the DTC electronic system allowing only physical ownership of the shares to help suppress the unending abuse by these mysterious naked shorters. Most recently Jag has looked to protect the interests of its current shareholders and the potential value that *O`Quinn will / hopes to attain by distributing a special dividend of Class B - non-tradable, no cusip number shares where these dividend Class B certificate shares will be delivered directly to the named shareholders. With the crack in the door gone for the brokerage community to convert the old B`s to A`s and never take genuine possession of the B`s, there could be further trouble on the horizon for the mighty titans. This latest action should then identify for the first time exactly how many 'real' shares exist or certainly enhance the damage model for *O`Quinn if the brokerage community fails to disclose all the real beneficial holders entitled to the B shares. So far, there are a reported 85 companies requesting removal from the US Depository Trust Company [DTC] system. This would allow them to trade on a 'custody-only' basis in an attempt to curb the never-ending attacks from the naked shorts. Lawsuits are flying. The DTC has said that it is impossible for illegal naked short selling to occur in its settlement system. Now, and after first claiming it had the authority to deny firms the right to exit it system, the [DTC] is asking the SEC for authority to do just that. The credibility of the entity which controls over $26 trillion in transactions on Wall Street is now in question. MORE..... 10) 06:36 am ET Harry Aloof - WallStreet Trader's Column [This message has been edited by FlyWolf (edited January 10, 2004).] [This message has been edited by FlyWolf (edited January 10, 2004).] [/QB][/QUOTE]
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