Prime Rate Investors Addresses Shareholder Inquiries of Naked Short Selling
STOWE, Vt.--(BUSINESS WIRE)--May 18, 2005--Prime Rate Investors, Inc. (OTC.PK: PRRM) responded to shareholder concerns regarding the naked short selling of its common stock and urged shareholders to request that their shares be delivered to them in certificate form from their broker/dealers in order to mitigate the manipulative practice.
Management also emphasized that the Company is investigating the possibility of its stock being naked shorted and applauds Pink Sheets, L.L.C. CEO R. Cromwell Coulson's petition to SEC Secretary Jonathan Katz to amend Rule 3360 to require short interest reporting for all OTC equity securities. "Manipulative naked short selling by broker-dealers operates as a fraud on the market causing investors to lose confidence in the fairness and legitimacy of OTC markets," Cromwell wrote in his petition.
"While short selling may have its place in fair market practices," said PRRM President Dan Burgess, "naked short selling undermines the market's ability to justly and accurately reflect the price of equity securities, untowardly affecting issuers and investors alike."
Prime Rate Investors (OTC.PK: PRRM) is a multi-media holding company with interests in outdoor sports, e-tail, retail, print, web, television and film. The company's strategic relationships with multi-faceted, outdoor sports entities allow it to offer diverse advertising solutions to businesses seeking multi-media exposure. Its wholly owned subsidiaries include Stowe TV-10, and Adirondack TV-33, RSN affiliated cable broadcast companies and High Angle Media, Inc., a video production company that also manages two other RSN affiliates Sugarbush TV-12 and Smuggs TV-9. PRRM owns the majority interest of Stockli Ski USA, the exclusive U.S. distributor of Stockli skis, bikes and sportswear.
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Contacts
Prime Rate Investors, Inc. Dan Burgess, 802-253-0199 http://www.prrm.us E-mail: info@stowetv10.com
-------------------- Be Careful Of The Toes We Step On Today, They Could Be Attached To The Butt We Have To Kiss Tomorrow Posts: 4727 | From: Elk Grove ( Sacramento )CA USA | Registered: Jun 2004
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Prime Rate Investors, Inc. Announces Expansion of Stowe TV-10 Business Wire - June 29, 2005 09:40
STOWE, Vt., Jun 29, 2005 (BUSINESS WIRE) -- Prime Rate Investors, Inc. (OTC.PK: PRRM) announced its wholly owned subsidiary Stowe TV-10 is expanding and moving its facilities. The new offices will be located at 1799 Mountain Road in Stowe. "We have outgrown our current location," said PRRM Director and Stowe TV-10 Station Manager Pierce Williams. "The new location offers improved facilities for our production staff, live show (Stowe Today) broadcasts, and more office space for administration," he concluded.
Prime Rate Investors (OTC.PK: PRRM) is a multi-media holding company with interests in outdoor sports, e-tail, retail, print, web, television and film. The company's strategic relationships with multi-faceted, outdoor sports entities allow it to offer diverse advertising solutions to businesses seeking multi-media exposure. Its wholly owned subsidiaries include Stowe TV-10, and Adirondack TV-33, RSN affiliated cable broadcast companies and High Angle Media, Inc., a video production company that also manages two other RSN affiliates Sugarbush TV-12 and Smuggs TV-9. The Company's wholly owned subsidiary BCTV produces the outdoor adventure series "Backcountry TV." Prime Rate Investors also owns the majority interest of Stockli Ski USA, the exclusive U.S. distributor of Stockli skis, bikes and sportswear.
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is anyone still buying this stock im sitting on a chunk of it that i basically gave up on.if anyone has good reason that i should buy more of this basically dead stock please let me know.all the good news a company can have may meen nothing at all if they have a zillion shares.so basically i dont mean to be such a pig about this im sitting on over six million shares and would like to avg in and buy another four million but i need some of you investors to help me and convince me this is a why descision.if you are involved in following the progress of this company let me know if one day a year from now you think this might come out of the basement.
thanx a bunch sincerely noah.
-------------------- gotta know when to hold em and when to .......... Posts: 1525 | Registered: Mar 2005
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If you believe some of the other sites, who think this thing is going to "penny land", then sure buy a lottery ticket. IMO those people are crazy. Why not wait for some decent news? It's not like this thing is going to take off and leave everyone behind with that many shares floating around.
Posts: 486 | From: Tennessee | Registered: Jun 2005
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