I got this email response from investor relations just now. Interesting...
Sir,
We are aware of the situation and are working with the appropriate authorities to rectify this as soon as possible. What we believe is happening is that certain firms now have a large short position, and will need to cover shortly. What you are seeing may be an attempt to lower the price so that the cost of covering their shorts is lower.
The authorized and outstanding is approx. 56 million, but a vast majority of these are restricted.
PSPP Investor Relations
From: xxx [mailto:xxxxxxxxxx.com]
Sent: Tuesday, October 02, 2007 6:53 AM
To: ir@eluxefinancial.com
Subject: PSPP Holdings, Inc., stock dilution
Importance: High
I hold a large position in PSPJ stock. Even though you reported on 9/24/07 that you had instructed the Depository Trust Company (DTC) to stop the transfer of certain shares of the Company's common stock, dilution appears to be continuing. The market maker VNDM has been sitting on the ask for days and has sold millions of shares. If what you reported was honest then this should not be difficult to trace and, if inappropriate, halt. Is the company diluting now? What is the current authorized and outstanding share count?
Thanks...
AI
