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In the Matter of Knight Capital Americas LLC
Respondent.
http://www.sec.gov/litigation/admin/2013/34-70694.pdf
Just closed my short. Made just over $800 in about ten days. Wish I could do that all the time. But then again, that comes out to an 11% return on my risk money in about 10 days, and if I could do that consistently, the evil hedge fund managers would be begging me to sign up!
Sure, if you look at borrowing fees v. put premiums. One has a greater downside risk, but it is easier to make coin on fairly small fluctuations with shorting with stocks that have high bid/ask spreads on the puts.
A while back, I did OK on some calls in a thinly traded stock, but the bid/ask spreads were so obscene that I actually found it a better deal to exercise and sell, than sell the calls.
Cheaper to short than PUT?
I have done puts on occasion, but I HATE the spreads you get on anything that trades less than IBM or Ford. In the case of this one, it was way cheaper to short than put. And I had some cash in the account from a recent call, so I would have no margin call worries if things went wrong.
Of course I've considered hedging long plays, with PUT's. Smart way to trade in my opinion. But unfortunately have to keep fighting the "illegal" shorts in pennyland. Like I said too much time, and MONEY invested, to let it go.
Sure tobacco is a safe play, no problem investing there. Actually have looked into it for the future.
Too bad. All that effort ferreting out short selling violations also sometimes ferrets out overvalued and overhyped companies, as in this case. I'm up about 7% and shorted on the 1st. It is a good way to hedge all my long positions. Hate to see all that effort go to waste...
Also: consider getting out of penny garbage and into tobacco, if you can deal with the moral issues. True, the product is addicting and kills people. But shoot, I have got to tell you, great dividends and steady growth with a relative lack of volatility.
LOL nice! Nah too much time, and money, invested to give up the fight.
Thanks for the advice, Outlaw.
I just shorted one of these turkeys and made some coin. Perhaps you should stop your ENSSFM Snipe Hunt and start looking for losers. Well, the ones you can short anyways, because it is practically impossible to short penny trash.
thx for that ..
absolutely worth a look
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4kids
all jmo
The 10 Most Heavily Shorted Stocks Against Their Float
24/7 Wall St. reviews many short interest changes throughout the month. What generally stands out the most is when there are big short interest trend changes, such as seeing that high-yield dividend stocks were attacked hard. Another issue that stands out like a sore thumb is the list of companies whose shares are the most heavily shorted of all based upon the percentage of the float.
It is these stocks with high percentages of their float that can be among the most volatile. In fact, sometimes these stocks will rally on news that still sounds bad because short sellers get forced into fleeing. Sometimes the news was just expected to be even worse.
We have reviewed the change in the short interest for mid-September versus the end of August. The key feature here is the percentage of the total float that is listed as short. We have also added in pricing data, days to cover, and other color if applicable.
Blyth, Inc. (BTH) traded at just above $12 and its 52-week range is $8.65 to $34.56. Its market cap is now down under $200 million because its stock has been hit so hard. The direct to consumer marketing company saw its short interest rise yet again to 5,567,293 shares in mid-September versus 5,407,179 shares at the last report. Its short interest is a whopping 76.6% of the float and represents some 12 days to cover,
ITT Educational Services, Inc. (ESI) remains under a negative cloud that just will not go away. Its short interest fell only 1.4% to 8,210,463 shares from 8,325,263 shares. Unfortunately, that is still some 55.7% of its float that is short. Another scary metric is that this represents a ratio of 25 days to cover.
U.S. Silica Holdings, Inc. (SLCA) in mining commercial silica for the oil and gas sector and for industrial uses. Its short interest rose by 4% in mid-September to 14,250,703 shares, but this is now up to 40% of its float. It is also about 14 days to cover.
RadioShack Corporation (RSH) remains a mystery. What can it do to turn around? Somehow, its shares are back up close to $4 again. It posted only a 1% rise in its short interest to 37,544,285 shares short, but this now represents some 38.6% of its float in the short interest. The days to cover is also high at 11.
Beazer Homes USA, Inc. (BZH) was somewhat surprising to see on the list. Its short interest of 9,504,740 was actually down by less than 1% from the end of August. Still, it represents some 38.5% of the float that is short and is 11 days to cover. Rising rate fears?
Molycorp, Inc. (MCP) remains an ongoing short seller fight. The rare earths leader in America did manage to see a small drop of 1.5% in the short interest to 47,947,561 shares. That may sound good on the surface, but this is still about 35.7% of its float and represents 9 days to cover. As long as rare earth minerals remain challenged and remain controversial, Molycorp will be a heavily shorted stock.
Western Refining Inc. (WNR) is a $2.4 billion refining outfit, and for some reason its shares have rallied after the short interest was released. This may be a short selling attack because of a proposed spin-off. The short interest did drop again by almost 1% but it remains incredibly high at 18,799,801 million shares. We also see that some 35.7% of its float is in the short interest, and it has 18 days to cover.
Walter Energy, Inc. (WLT) is in the hated coal sector, but at least it is into metallurgical coal. We saw that its short interest fell by 1.5% down to 21,592,688 shares, and this short interest is down from almost 29 million shares just at the end of July. This still represents some 34.8% of the float that is short, but it represents only about 3 das to cover since it is so actively traded.
InterOil Corporation (IOC) has been extremely volatile as shares are around $71 and its 52-week range is $50.90 to $106.44. This remains a highly controversial stock and some investors question its value. Its short interest did manage to fall by just over 0.5% down to 12,347,296 shares, but this is still 34.6% of its float that is short. It also carries a whopping 29 days to cover.
GenCorp Inc. (GY) has risen handily and short sellers remain active in this aerospace and defense products outfit. Maybe its rocket propulsion risks are subject to spending cuts and sequestration. The short interest did manage to fall almost 5% down to 19,352,496 shares, but that is after months and months of rising short interest and it is still the second highest reading going a year back. This represents some 34.6% of the float that is short and it is at an unbelievable 41 days to cover.
http://finance.yahoo.com/news/10-most-heavily-shorted-stocks-163750674.html
Thank You 4kids.
It needs to stop, hopefully soon.
outlaw
good to see more exposure re: retail and manipulation
board marked ..
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4kids
all jmo
fourkids_9pets Member Level Tuesday, September 17, 2013 8:12:32 PM
Re: fourkids_9pets post# 1289 Post # of 1293
U.S. SEC charges 23 firms in short-sale crackdown; 22 settle
Reuters – 3 hours ago
By Sarah N. Lynch
WASHINGTON (Reuters) - Twenty-two investment firms will collectively pay more than $14.4 million in sanctions to settle civil charges in connection with a broad crackdown by federal regulators into illegal short-selling practices, the U.S. Securities and Exchange Commission said on Tuesday.
The SEC said it had charged 23 firms for violating a rule that prohibits firms from shorting a stock within a five-day window of a public offering, and then buying the same security through the offering.
Only one of the 23 firms, G-2 Trading LLC, is fighting the charges through litigation.
The SEC also simultaneously issued a risk alert that seeks to highlight the enforcement cases as an example to warn the market against violating the short-selling restrictions, known as Rule 105 of Regulation M.
The prohibition against short-selling ahead of an offering and then buying the same stock in the offering is aimed at reducing the chances of market manipulation. The rule applies regardless of a trader's intent.
The SEC said the firms charged all bought shares from an underwriter, broker or dealer participating in a follow-on offering after they had shorted the stock during the restricted period.
Among the 22 firms that are settling the SEC's charges are D.E. Shaw & Co, Hudson Bay Capital Management, and the Ontario Teachers' Pension Fund Plan.
The other firms were as follows: Blackthorn Investment Group, Claritas Investments Ltd, Credentia Group, Deerfield Management Company, JGP Global Gestao de Recursos, M.S. Junior Swiss Capital Holdings and Michael A. Stango, Manikay Partners, Meru Capital Group, Merus Capital Partners, Pan Capital AB, PEAK6 Capital Management, Philadelphia Financial Management of San Francisco, Polo Capital International Gestao de Recursos, Soundpost Partners, Southpoint Capital Advisors, Talkot Capital, Vollero Beach Capital Partners, War Chest Capital Partners, and Western Standard.
All will pay a varying amount of fines, disgorgement and interest without admitting or denying the charges.
(Reporting by Sarah N. Lynch; Editing by Gerald E. McCormick and Leslie Adler)
http://finance.yahoo.com/news/us-sec-charges-23-firms-153100217.html
original link courtesy of 7/10/11
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4kids
all jmo
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=92121728
fourkids_9pets Member Level Monday, August 05, 2013 8:22:34 PM
Re: fourkids_9pets post# 1287 Post # of 1293
Finra Fines Oppenheimer $1.4M for Penny-Stock Deals
By SAABIRA CHAUDHURI
August 5, 2013, 1:47 p.m. ET
http://online.wsj.com/article/SB10001424127887323514404578650143972097834.html
The Financial Industry Regulatory Authority has fined investment bank Oppenheimer & Co. $1.4 million for selling unregistered penny-stock shares and for failing to have an adequate antimoney-laundering- compliance program to detect suspicious penny stock transactions.
Oppenheimer neither admitted nor denied the charges.
"The sales of penny stocks at issue in the settlement with FINRA occurred a number of years ago and were mostly conducted by brokers no longer associated with our firm," a company spokesperson said in an emailed response. "The firm has significantly tightened its policies relating to the sales of low priced shares and enhanced its review of client sales with respect to anti-money laundering oversight."
According to the order from Finra, Oppenheimer is required to hire an independent consultant to review its penny stock and antimoney- laundering systems.
"Broker-dealers are required by federal securities laws and Finra rules to monitor customers' accounts so that those accounts are not used for illegal activities, such as money laundering and penny-stock schemes that can cause considerable harm to investors," said Brad Bennett, head of Finra's Department of Enforcement. "If Oppenheimer had an adequate antimoney laundering and supervisory program in place, it would have made further inquiry into the penny stock sales that were the basis of this action."
The charges were first brought against the firm in a May complaint by Finra.
Finra found that from August 2008 to September 2010, Oppenheimer sold more than a billion shares of 20 low-priced, highly speculative securities, also called penny stocks, without registration or an applicable exemption.
It said the firm's customers deposited large blocks of penny stocks shortly after opening the accounts, and then liquidated the stock and transferred proceeds out of the accounts.
Finra also found the firm's systems and procedures governing penny-stock transactions were inadequate, and were unable to determine whether stocks were restricted or freely tradable.
The agency charged Oppenheimer with failing to conduct adequate supervisory reviews to determine whether the securities were registered, and found that Oppenheimer's antimoney-laundering program failed to monitor patterns of suspicious activity associated with the penny-stock trades.
The agency also noted Oppenheimer didn't conduct adequate due diligence on the account of a broker-dealer customer in the Bahamas, which Finra says was setup to sell securities for parties not subject to Oppenheimer's anti-money laundering review.
Finra said this is the second time Oppenheimer has been found to have violated its antimoney-laundering obligations.
In March, Oppenheimer agreed to pay more than $2.8 million to settle federal allegations regarding overstated returns and the value of a former unit's fund. The Securities and Exchange Commission said that Oppenheimer shared with investors misleading quarterly reports and marketing materials about a private-equity fund it managed.
And in February 2012, the New Hampshire Bureau of Securities Regulation fined Oppenheimer $155,000 in fines and expenses for the illegal sale of penny stocks and for failure to supervise its employees.
Write to Saabira Chaudhuri at saabira.chaudhuri@wsj.com
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original link courtesy of the penny guru
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4kids
all jmo
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=90691059
Monk Saturday, November 08, 2008 9:09:31 PM
Re: None Post # of 319093
Stock market Manipulation and Fraud:
Well, this isn't really a FAQ page, but it is close to it.
Here are a series of bullet points that highlight everything you need to know about the current crisis, in "elevator pitch" format:
• Wall Street has a colorful history of institutionally-condoned stock manipulation and fraud.
• Stock manipulation was not illegal until the introduction of the SEC in 1934.
• Joe Kennedy, the first SEC Chairman (and father of JFK) made his fortune running stock manipulation "pools" on Wall Street.
• The head of the NYSE, who argued successfully against any meaningful regulation and oversight of Wall Street participants (brokers) by the SEC (due to their integrity and high moral fiber), and introduced the notion of self-regulation on the "honor" system (still in place today), was subsequently sentenced to 10 years in Sing-Sing for embezzling client accounts - including a fund in his care set up for orphans.
• The SEC originally was envisioned to have prosecution power.
• The final bill giving birth to the SEC was so anemic and watered-down that it was chastised as nonsense when it was passed, and it severely constrained the new Commission, and limited the SEC's power to filing civil suits. Virtually all the rules with Congressional teeth were stripped out of the bill, at Wall Street's behest. That state of affairs continues to this day.
• The SEC was never intended to police Wall Street and ensure a level and fair playing field – Roosevelt created it to, "Restore investor confidence in the market" after the 1929 and 1932 crashes – not to ensure there was any good reason to have confidence.
• The SEC's track record of action against Wall Street players is worse than abysmal.
• Broker/dealers have transitioned from owing their clients a fiduciary obligation of safekeeping, to a "customer" relationship, that is essentially adversarial – caveat emptor being the rule for customers.
• As commissions have dwindled to nothing (due to the advent of discount brokers, following deregulation) Wall Street is now beholden to the large money movers for their income, and stock lending is one of their biggest profit centers.
• Stock lending is exclusively an activity used by short sellers, who must borrow stock before selling it.
• Short selling is a bet on stock price declines. The short seller borrows stock, and then sells that borrowed stock, hoping to buy it back at a lower price later, when he returns it to the lender.
• Illegal "naked short selling" involves placing a sales transaction, but not borrowing the stock, and simply failing to deliver it on delivery day. It is also called "failing to deliver" or FTD – or delivery failure.
• Delivery failure is a significant problem nowadays, as it can be used to run stock prices down in a manipulative manner. Delivery failure in any other industry is called fraud. Hedge funds are the biggest culprits in this illegal trading strategy, with broker/dealers right behind them in the culpability queue.
• Hedge funds are now the largest players in the US equities markets, representing the majority of trading, with almost $2 trillion under management.
• Hedge funds are large, virtually unregulated pools of anonymous money, used to invest in any way the operator sees fit.
• Prime brokers allow their hedge fund customers leverage on their assets, meaning that for every dollar of asset, they could easily hold $10 of short positions.
• This over-leverage presents a systemic risk should positions in several larger funds go the wrong way, as there isn't enough collateral to cover the domino effect of multiple positions being forced to cover.
• This over-leverage creates an environment where the brokers are now pregnant with their hedge fund customers' liabilities, and have a vested interest in seeing depressed stock prices remain depressed – if the stocks go up, the hedge funds could easily fail, and the brokers are on the hook to buy-in and deliver the stock owed by the funds – resulting in brokerage failures.
• The DTCC is ultimately at risk for this domino effect, as brokerages fail.
• The DTCC is owned by the brokers, thus is the brokers.
• The DTCC processes over $1.2 quadrillion (million trillion) every year, and owns most of the stock American investors hold in their accounts - but most of the country has never heard of the company. The total GNP of the planet is about $20 trillion per year.
• 1% of all trades in dollar volume fail to settle (be delivered) every day, per the SEC.
• $130 billion to $150 billion of equities trade every day.
• $2 trillion of total trades are processed by the DTCC every day, including bonds.
• The SEC does not qualify whether they refer to total trades, or total equities, when referring to 1% failing to settle.
• The SEC keeps the total dollar value of trades that have failed to be delivered secret.
• The Securities Industry Association publishes a spreadsheet that tallies the financial position of all NYSE member firms, and that spreadsheet shows $63 billion plus delivery and receipt failures as of the final day of Q2, 2006, just for those firms. Lines 69 and 103.
• The DTCC claims delivery and receipt failures are a rolling $6 billion per day.
• The disconnect in the numbers is CNS netting, wherein all fails are netted against all shares held long by the brokers, effectively concealing 90+% of the problem once netting is through.
• The $63 billion number doesn't include any of the massive international clearing firms. And that number is after pre-CNS netting, where the day's buys are used to offset the day's sells (even naked sells) at the broker and clearing house level, before reporting to the SIA, and before going into the CNS netting system.
• Of the $130 to $160 billion per day that trades in stock, per the DTCC, 96% is handled by CNS netting. This is consistent with the disconnect in the $6 billion and the $63+ billion numbers. 96% is handled by netting, which means 4% isn't. 4% of $130 billion is $5.2 billion not handled by CNS netting. Of that $5.2 billion, $2.1 billion fails. $1.1 billion of the fails are accommodated by the stock borrow program. $1 billion isn't, and goes onto the $6 billion post netting failure pile.
• $5.2 billion per day aren't handled by CNS netting. $2.1 billion fail. That is 40% of the trades, fail. $130 billion to $160 billion stock trades daily. $63 billion fails just in NYSE firms. That is around 40%.
• The SEC insists that the failure issue isn't a big problem. So does the DTCC. So does Wall Street. None of these entities have commented on the SIA spreadsheet, nor has the NY financial press. Not one comment. None.
• $63 billion is a big problem. That is a mark-to-market number, where yesterday's $20 stock is today $1, thus yesterday's $20 billion problem is now valued as a $1 billion problem. That means the actual true value of the problem is likely 10-20 times larger.
• $630 billion to $1.2 trillion is a very big problem. Even by NY standards.
• The SEC "grandfathered" all failed to deliver trades prior to January, 2005, effectively pardoning all those trades (for which money was paid but no stock ever delivered), from ever being required to deliver. This amounts to allowing those that violated delivery rules to keep the money from their illegal conduct.
• The SEC keeps the number of shares grandfathered, as well as the dollar amount, secret, for fear of creating market disrupting "volatility".
• The above numbers do not take into account the large number of undelivered trades that are handled "Ex-Clearing" – a way of handling delivery outside the system. Nor do they take into account pre-CNS netting, nor international clearing house fails.
• Many securities scholars believe the "Ex-Clearing" failure problem is 10 times larger than the in-system problem the above numbers represent.
• Many investors that think they have "shares" in their brokerage accounts, don't. They have "markers" that have no underlying share to validate them. Some call these "counterfeit shares", with good reason. The technical term is "Securities Entitlement."
• UCC8 mandates that all Securities Entitlements have a genuine share on deposit at the DTC, or in the broker's possession, for each Securities Entitlement. That rule is ignored by the SEC and Wall Street.
• The DTCC, via Cede & Co., is the registered owner of all shares held in "Street Name," which are all shares in margin accounts.
• Margin accounts represent the bulk of independent investor account types.
• Registered owners are free to use their "property" as collateral for loans or debt.
• It is unknown what, if any, loans or debts are collateralized by the stock "owned" by the DTCC.
• The DTCC's "Stock Borrow Program" lends shares to be delivered to buyers, if sellers fail to deliver.
• The Stock Borrow Program is operated on the honor system, and is anonymous.
• It allows one genuine share to be lent multiple times, leaving a string of markers/IOUs in the share's wake.
• This creates a systemic risk for the stock market, as more markers are in investor accounts, falsely represented as shares, than shares actually authorized by the companies.
• These markers are freely traded and treated by the system as real, resulting in a large secondary market of counterfeit shares – resulting in depressed stock prices.
• With paper certificates being eliminated – by the DTCC – there is no way to confirm that a share is genuine, versus a bogus marker.
• There is nothing to stop your broker from taking your money, and merely representing to you that you bought shares, without ever actually buying them. You have no way of knowing the difference, barring demanding paper certificates for your property.
• Only a handful of people on the planet understand all this.
• In the end, it is simple – Wall Street is printing shares electronically, investors are paying real money for those bogus shares, and the whole thing is predicated on the idea that few will ever understand what is being done, or bother to check.
• This represents a hidden tax on investors and the economy.
• It is, for the most part, illegal.
• It is being kept secret by the DTCC and the SEC, who are terrified of systemic collapse, and a complete loss of investor confidence, should all the facts become known.
• All the facts are becoming known.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33434310
BUYINS.NET Updates Nuvilex SqueezeTrigger Report
•Approximately 300 Million Shares Shorted Since August 2009
•Short Squeeze Has Begun As Stock Is Above $.0655 SqueezeTrigger
NEWPORT BEACH, Calif., July 19, 2013 (GLOBE NEWSWIRE) -- BUYINS.NET, http://www.buyins.net, a leading provider of Regulation SHO compliance monitoring, short sale trading statistics and market integrity surveillance, has updated coverage on Nuvilex (NVLX) after releasing the latest short sale data through July 18, 2013. The total aggregate number of shares shorted since August 2009 is approximately 300 million shares. Approximately 39.49% of daily trading volume is short selling. The SqueezeTrigger price for all NVLX shares shorted is $.0655. A short squeeze has begun as NVLX is above the $.0655 SqueezeTrigger Price.
Click for original Report: http://www.buyins.com/reports/nvlx10-27-12.pdf
Click for updated SqueezeTrigger: http://www.buyins.com/images2/nvlxstr7-18-13.jpg
Click for updated Friction Factor: http://www.buyins.com/images2/nvlxff7-18-13.jpg
Click for detailed brochure: http://www.buyins.com/brochure.pdf
Friction Factor calculates if a fair market is being made in the shares of NVLX. 49% of the previous 37 trading days have been positive or bullish-biased and 51% have been negative or bearish-biased.
Regulation SHO requires bona-fide market-making activities to include making purchases and sales in roughly comparable amounts. The Commission has stated that bona-fide market-making DOES NOT include activity that is related to speculative selling strategies or investment purposes of the broker-dealer and is disproportionate to the usual market making patterns or practices of the broker-dealer in that security. Likewise, where a market-maker posts continually at or near the best offer, but does not also post at or near the best bid, the market-maker's activities would not generally qualify as bona-fide market-making. Moreover, a market-maker that continually executes short sales away from its posted quotes would generally not be considered to be engaging in bona-fide market-making.
BUYINS.NET monitors NVLX market-makers daily for compliance with Fair Market-Making Requirements.
About BUYINS.NET
BUYINS.NET, http://www.buyins.net, monitors trading in all US stocks in real time and maintains massive databases of short sale and naked short sale time and sales data, short squeeze SqueezeTrigger prices, market-maker price movements, shareholder data, statistical data on earnings, sector correlation, seasonality, hedge fund trading strategies and comparable valuations. Reports include:
REGULATORY & COMPLIANCE NEWS
Friction Factor -- market-maker surveillance system tracking market makers in all stocks to determine Price Friction and compliance with new "Fair Market-Making Requirements".
RegSHO Naked Shorts -- tracks EVERY failure to deliver in all US stocks and all Threshold Security Lists daily for which stocks have naked short positions.
INVESTMENTS & TRADING
SqueezeTrigger -- 36 billion cell database tracks EVERY short sale (not just total short interest) in all US stocks and calculates volume weighted price that a short squeeze will begin in each stock.
Earnings Edge -- predicts probability, price move and length of move before and after all US stock earnings reports.
Seasonality -- predicts probability, price move and length of move based on exact time of year for all US stocks.
Group Trader -- tracks sector rotation and stock correlation to its sector and predicts future moves in ALL sectors and industry groups.
Pattern Scan -- automates tracking of every technical pattern and predicts next move in stocks.
GATS -- tracks and quantifies known trading strategies.
DISCLAIMER:
BUYINS.NET is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any securities. NVLX has paid $1,116 per month to purchase data to be provided in six monthly reports. NVLX has not approved the statements made in this release. Please read our report and visit our web site, http://www.buyins.net, for complete risks and disclosures.
Contact:.
.
BUYINS.NET
Thomas Ronk
Dephasium Corp. Comments on Unauthorized Listing on Boerse Berlin Stock Exchange
MIAMI--(BUSINESS WIRE)--
Dephasium Corp. (DPHS) would like to inform its investors and regulators that it has come to our attention that the Company's shares have been listed on the Boerse Berlin Stock Exchange ("BBSE") by an unidentified third party, without our approval, consent or knowledge. The Company did not authorize or direct any broker on the BBSE to act as a market maker for the company's common stock.
Based on other recent unauthorized listings on the BBSE, the Company believes this is the first step in what will be a significant naked shorting attack directed at the Company. The Company is aware of other OTCQB traded companies that have announced that a similar naked short selling tactic had been utilized to potentially negatively manipulate the price of their common stock. As such, the Company, through its legal counsel, has contacted the BBSE and the broker sponsoring the BBSE listing to demand the delisting of the Company's stock from the BBSE and bring a similar end to the potential manipulation of DPHS shares.
The Company reserves all rights to pursue legal action against the broker sponsoring this listing and any market maker that has engaged in naked short selling in direct violation of Regulation SHO.
The Boerse Berlin Stock Exchange is one of the few stock exchanges in the world that allows listing and trading of a company's stock without the consent or authorization of the company being listed. This practice may facilitate both domestic and foreign brokers in circumvent restrictions imposed by both the Financial Industry Regulatory Authority ("FINRA") and the Securities and Exchange Commission relating to the trading practice referred to as "naked short selling". Short selling is a trading practice whereby investors borrow stock from a broker to sell in the hopes that the stock price will decline before they have to return the share to the broker to cover their position. Many naked short selling attacks involve groups of people working in concert to manipulate the market in order to force a company's share price lower for personal profit. Naked short sellers can list an OTCBB or OTCQB traded company on the BBSE in order to delay delivery of shares under the short position.
About Dephasium:
Dephasium recently acquired the U.S. Ancilia trademark and patent from Dephasium, Ltd. and with its intended commercialization of that product, intends to become the leader in the field of people protection against electromagnetic waves emitted by mobile phones.
Forward Looking Statement - This release contains statements that constitute forward-looking statements. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
.
.
Contact:.
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Dephasium Corp.
IR Contact:
Amy Munro, 800-543-8706
KBX - Kimber Receives Notification of Non-Compliance from NYSE MKT and Decides to Voluntarily De-List from the NYSE MKT
Press Release: Kimber Resources Inc. – 14 hours ago
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 25, 2013) - Kimber Resources Inc. (NYSE MKT:KBX)(KBR.TO) (the "Company" or "Kimber") announced today that it has received a letter (the "Notice") from the staff of the NYSE MKT LLC (the "Exchange") notifying the Company that it is not in compliance with the continued listing requirements set forth in Part 10 of the NYSE MKT Company Guide (the "Company Guide").
The Exchange has given Kimber until July 19, 2013 to submit a plan outlining how it intends to bring itself into compliance with these requirements, and to complete a reverse stock split to increase its share price. Instead, Kimber has decided to submit written notice to the Exchange of its intention to voluntarily delist its common shares from the Exchange. Kimber further intends to file a Form 25 with the Securities Exchange Commission to complete the voluntary delisting of its common shares from the Exchange, which will become effective 10 days after the filing date.
Kimber decided to take this action after concluding that the disadvantages of maintaining its listing on the Exchange outweigh the benefits to Kimber and its shareholders. Among the factors considered were the continued downward pressure on the trading price of Kimber's stock on the Exchange which the Company believes is a result of market manipulation in the United States (see below); the ongoing costs and expenses, both, direct and indirect, associated with having Kimber's common stock listed on the Exchange; the costs and expenses of preparing the requested compliance plan; and the potential ineffectiveness of a reverse stock split to increase Kimber's share price in light of the continued unusual trading activity in Kimber's stock in the United States.
As detailed in Kimber's news release of May 7, 2013, during the past two years, Kimber's management has identified repeated instances of unusual trading activity in Kimber's securities which management believes involves naked short selling of the Company's common stock on the Exchange as part of a market manipulation scheme. The Company has seen high volume selling at the beginning or end of the day on repeated occasions, though regulatory filings from the Company's significant shareholders have not shown substantial changes in their ownership of Kimber's common stock over the two year period. In addition, SEC Rule 201 has been triggered 35 times since March 2011 with the rule often being in effect for multiple days at time. These periods include a large number of trading days in March and April 2013. Kimber has repeatedly alerted the NYSE MKT, FINRA, IIROC, the British Columbia Securities Commission and the Securities and Exchange Commission to this continued unusual trading.
Kimber's common stock will continue to be listed and traded on the Toronto Stock Exchange, (the "TSX"). Kimber does not believe that its shareholders in the United States will be materially prejudiced by a voluntary delisting from the Exchange since its U.S. shareholders will continue to be able to trade the common shares through the facilities of the TSX.
ABOUT KIMBER
Kimber owns mineral concessions covering in excess of 39,000 hectares in the prospective Sierra Madre gold-silver belt, including the Monterde property, where three gold-silver mineral resources have already been defined. The most advanced of these, the Carmen deposit, has been extensively drilled and has undergone detailed geologic modeling. The completion of the Updated Preliminary Economic Assessment for Monterde in 2011 represented a significant step forward for Kimber and supported further evaluation and more advanced economic studies at the Monterde deposits, with the 2012 Updated Mineral Resource Estimate Technical Report for the Carmen deposit representing a component of those activities.
Forward-looking statements
Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include, but are not limited to, statements regarding the Company's belief that its low stock price is the result of naked short selling and/or an illegal market manipulation scheme designed to artificially cap the Company's stock price as well as the Company's belief that the Regulatory Authorities will, or have initiated an investigation of the unusual trading activity. When used herein, the words "anticipate," "believe," "estimate," "upcoming," "plan," "target", "intend" and "expect" and similar expressions, as they relate to Kimber Resources Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. Factors that could cause or contribute to such differences, including, but not limited to, risk factors discussed in our latest Annual Report on Form 20-F for the year ended September 30, 2012. Except as required by Federal Securities law, the Company does not undertake any obligation to release publicly any revisions to any forward-looking statements.
Neither the TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Kimber Resources Inc.
Renee Brickner, BSc (Hons) Geol.
Vice President, Investor Relations
North America Toll Free: 1-866-824-1100 or (604) 669-2251
Kimber Resources Inc.
Gordon Cummings, CA
President and CEO
North America Toll Free: 1-866-824-1100 or (604) 669-2251
(604) 669-8577
kimbernews@kimberresources.com
www.kimberresources.com
http://finance.yahoo.com/news/kimber-receives-notification-non-compliance-125216172.html
Barclays under German taxman's gaze over tax credits: report
FRANKFURT (Reuters) - German tax authorities are investigating Barclays (BARC.L) over the use of legal loopholes which cut the British lender's tax bill by billions of euros, a German newspaper reported on Saturday.
Daily Sueddeutsche Zeitung said German authorities obtained internal bank documents dated 2007-2010 in which Barclays mapped out lucrative tax loopholes related to naked short-selling transactions before and after the dividend payout dates of stocks.
With the help of a trading platform it operated in Luxembourg, Barclays obtained more tax credits than the tax it actually paid in these transactions, the paper said.
These trades took place for more than 10 years until 2012 at a cost to the taxpayer of about 280 million euros annually, Sueddeutsche said, citing German finance ministry documents.
Authorities are now investigating whether taking advantage of these loopholes amounts to tax evasion and whether back taxes are due.
Barclays said in a statement that in relation to the transactions in question it "has an open and constructive approach to engagement with the relevant tax authorities and is committed to continuing to do so".
"We have complied with all applicable laws and do not accept any suggestion of misconduct."
Other banks are subject to investigations linked to the tactic also known as dividend stripping, which Germany outlawed in 2012.
A source close to UniCredit's (CRDI.MI) German unit HVB earlier this year told Reuters the bank expects a hit of up to 200 million euros from a tax evasion probe relating to share deals several years ago.
($1 = 0.7612 euros)
(Reporting by Ludwig Burger; Editing by Toby Chopra)
http://finance.yahoo.com/news/barclays-under-german-taxmans-gaze-144009279.html
According to the SEC, the ENSSFM claims by Bryant were a bedtime story told to the stuckholders to keep them docile while he took off with their money.
That isn't me, that is the SEC. Have you read the SEC enforcement complaint?
Did the same thing happened to EIGH, or something similar?! ;)
Interesting... Naked Shorts exist!
Wow they really scammed us in this one!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=85856045
Maybe you should...
LOL...they deserve it...i wonder if theres any legal recourse for all of us that lost money?
not to much going on with tsho, But it does look like some one(s) are accumulating PBEC
Cool..hows TSHO land lately...anything newsworthy there?
I checked it out a month or so ago and no PR's...are they done?
no I never got any,
just watching
Should leg up soon...need Level 2 back...
Did you get in?
near .11 was the place to be early this morning then a reload in the low .08s
I am sure that's how the swing traders played it out today.
Just woke up...great news...thanks
Pizza money is coming out soon...i hope
You got mail
lololol
http://ih.advfn.com/p.php?pid=nmona&article=48862783&symbol=STTN
don't forget to take some pizza money out soon
Good luck
Thanks Bronson...gonna take the proceeds
and load up on TSHO...I hear that one is going places...LOLzzzzzzz
Wow I guess I should have got some,
Good luck to you Outlaw, nice Pick
Thanks looking into them now
Not sure of the timing yet...
Cobi
Plenty of time to watch it though or so it seems!
Im in as well...waiting...DD looks good there...no revs to speak of yet...
Yea you got something going here I love the slow and steady up ticks, if they can keep it slow and steady I would stay in for ever
next time you find a nice one let me no a little earlier lolzzzzzz
good luck
Yep...STTN looks good....
Im in another that the DD is friggen great...but the cEo is holding prs for the time being because of shorters..LOL...hopefully that other one will be moving soon as well!
Sorry so late getting back to you...had to really think about that one LOL...maybe its the taco delivery guy!
misc.
3Power / Seawind Merger Closing Planned for May 16, 2011
Date : 05/06/2011 @ 8:00AM
Source : Business Wire
Stock : 3Power Energy Group Inc. (PSPW)
Quote : 0.706 0.226 (47.08%) @ 4:02PM
3Power / Seawind Merger Closing Planned for May 16, 2011
3Power Energy GR (OTCBB:PSPW)
Intraday Stock Chart
Today : Friday 6 May 2011
3Power Energy Group Inc. (“3Power” or “the Company”) (OTCBB:PSPW)(FWB:PSD) and Seawind Services Ltd. (“Seawind”) are pleased to announce that they have made major progress on the preparation of the U.S. Securities & Exchange Commission Form 8-K (the “Super 8-K”) setting forth comprehensive disclosures and audited financial statements regarding the prospective acquisition of Seawind Energy and Seawind Services by 3Power. The transaction is anticipated to close on Monday May 16, 2011.
The combination of 3Power and Seawind is expected to establish combined operations with historical and anticipated future revenue streams, management expertise and project pipelines to place 3Power at the forefront of sustainable energy development. 3Power will exit U.S. Securities & Exchange Commission shell status upon filing of the Super 8-K, and commence the steps for acquisition of its first 58MW of Seawind’s projects pipeline in Latin America. 3Power and Seawind intend to increase the members of the Board of Directors and appoint additional executives to the combined management team during the foreseeable future.
About 3Power Energy Group
3POWER is emerging as a world-wide independent major player in producing sustainable renewable energy. 3POWER plans to harness cutting-edge solar, wind, and hydro technologies to develop clean, sustainable power generation as trusted energy provider to utility companies and corporate entities around the world. 3POWER expects to establish its headquarters in London, with satellite offices and operations in North America, Latin America, Europe, and Asia. For further information: www.3powerenergy.com.
--ENDS--
Forward Looking Statements
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to 3Power, its business and prospective development plans. These forward-looking statements can be identified by the use of terminology such as “subject to,” “believe,” “expects,” “plan,” “project,” “estimate,” “intend,” “may,” “will,” “should,” “can,” or “anticipates,” or the negative thereof, or variations thereon, or comparable terminology, or by discussions of strategy. Although all of the forward-looking statements set forth in this press release are believed to be reasonable, actual results may differ materially from those expressed in forward-looking statements as a result of factors outside of the control of 3Power. 3Power cannot provide assurances that any prospective matters described in the press release will successfully close or otherwise be completed or that 3Power will realize the anticipated benefits of any such transactions. Important factors that may cause actual results to differ materially from those expressed in the forward-looking statements are discussed in 3Power's Securities and Exchange Commission filings. Readers are cautioned not to place undue reliance on forward-looking statements. 3Power does not undertake and specifically disclaims any obligation to update, republish or revise forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrences of unanticipated events. All forward-looking statements should be regarded solely as 3Power's current plans, estimates and beliefs.
Whats really disturbing is the stories that he would tell about the alien abductions and all the probing going on....
But your right she cant be happy about all of this!
I really am worried...about his wife....how could she possibly be satified?
that would be the thing to do...im worried...
well not really
I get several spam emails a day about it...maybe I should forward one to him...
I've heard that...he really should have sought help for that situation...
yeah....lots of compensation going on...
Yes it does.....your very right i see the resemblance...
Sad...
News pertaining to the rigged game we call the Stock Market!
Monk Saturday, November 08, 2008 9:09:31 PM
Re: None Post # of 319093
Stock market Manipulation and Fraud:
Well, this isn't really a FAQ page, but it is close to it.
Here are a series of bullet points that highlight everything you need to know about the current crisis, in "elevator pitch" format:
• Wall Street has a colorful history of institutionally-condoned stock manipulation and fraud.
• Stock manipulation was not illegal until the introduction of the SEC in 1934.
• Joe Kennedy, the first SEC Chairman (and father of JFK) made his fortune running stock manipulation "pools" on Wall Street.
• The head of the NYSE, who argued successfully against any meaningful regulation and oversight of Wall Street participants (brokers) by the SEC (due to their integrity and high moral fiber), and introduced the notion of self-regulation on the "honor" system (still in place today), was subsequently sentenced to 10 years in Sing-Sing for embezzling client accounts - including a fund in his care set up for orphans.
• The SEC originally was envisioned to have prosecution power.
• The final bill giving birth to the SEC was so anemic and watered-down that it was chastised as nonsense when it was passed, and it severely constrained the new Commission, and limited the SEC's power to filing civil suits. Virtually all the rules with Congressional teeth were stripped out of the bill, at Wall Street's behest. That state of affairs continues to this day.
• The SEC was never intended to police Wall Street and ensure a level and fair playing field – Roosevelt created it to, "Restore investor confidence in the market" after the 1929 and 1932 crashes – not to ensure there was any good reason to have confidence.
• The SEC's track record of action against Wall Street players is worse than abysmal.
• Broker/dealers have transitioned from owing their clients a fiduciary obligation of safekeeping, to a "customer" relationship, that is essentially adversarial – caveat emptor being the rule for customers.
• As commissions have dwindled to nothing (due to the advent of discount brokers, following deregulation) Wall Street is now beholden to the large money movers for their income, and stock lending is one of their biggest profit centers.
• Stock lending is exclusively an activity used by short sellers, who must borrow stock before selling it.
• Short selling is a bet on stock price declines. The short seller borrows stock, and then sells that borrowed stock, hoping to buy it back at a lower price later, when he returns it to the lender.
• Illegal "naked short selling" involves placing a sales transaction, but not borrowing the stock, and simply failing to deliver it on delivery day. It is also called "failing to deliver" or FTD – or delivery failure.
• Delivery failure is a significant problem nowadays, as it can be used to run stock prices down in a manipulative manner. Delivery failure in any other industry is called fraud. Hedge funds are the biggest culprits in this illegal trading strategy, with broker/dealers right behind them in the culpability queue.
• Hedge funds are now the largest players in the US equities markets, representing the majority of trading, with almost $2 trillion under management.
• Hedge funds are large, virtually unregulated pools of anonymous money, used to invest in any way the operator sees fit.
• Prime brokers allow their hedge fund customers leverage on their assets, meaning that for every dollar of asset, they could easily hold $10 of short positions.
• This over-leverage presents a systemic risk should positions in several larger funds go the wrong way, as there isn't enough collateral to cover the domino effect of multiple positions being forced to cover.
• This over-leverage creates an environment where the brokers are now pregnant with their hedge fund customers' liabilities, and have a vested interest in seeing depressed stock prices remain depressed – if the stocks go up, the hedge funds could easily fail, and the brokers are on the hook to buy-in and deliver the stock owed by the funds – resulting in brokerage failures.
• The DTCC is ultimately at risk for this domino effect, as brokerages fail.
• The DTCC is owned by the brokers, thus is the brokers.
• The DTCC processes over $1.2 quadrillion (million trillion) every year, and owns most of the stock American investors hold in their accounts - but most of the country has never heard of the company. The total GNP of the planet is about $20 trillion per year.
• 1% of all trades in dollar volume fail to settle (be delivered) every day, per the SEC.
• $130 billion to $150 billion of equities trade every day.
• $2 trillion of total trades are processed by the DTCC every day, including bonds.
• The SEC does not qualify whether they refer to total trades, or total equities, when referring to 1% failing to settle.
• The SEC keeps the total dollar value of trades that have failed to be delivered secret.
• The Securities Industry Association publishes a spreadsheet that tallies the financial position of all NYSE member firms, and that spreadsheet shows $63 billion plus delivery and receipt failures as of the final day of Q2, 2006, just for those firms. Lines 69 and 103.
• The DTCC claims delivery and receipt failures are a rolling $6 billion per day.
• The disconnect in the numbers is CNS netting, wherein all fails are netted against all shares held long by the brokers, effectively concealing 90+% of the problem once netting is through.
• The $63 billion number doesn't include any of the massive international clearing firms. And that number is after pre-CNS netting, where the day's buys are used to offset the day's sells (even naked sells) at the broker and clearing house level, before reporting to the SIA, and before going into the CNS netting system.
• Of the $130 to $160 billion per day that trades in stock, per the DTCC, 96% is handled by CNS netting. This is consistent with the disconnect in the $6 billion and the $63+ billion numbers. 96% is handled by netting, which means 4% isn't. 4% of $130 billion is $5.2 billion not handled by CNS netting. Of that $5.2 billion, $2.1 billion fails. $1.1 billion of the fails are accommodated by the stock borrow program. $1 billion isn't, and goes onto the $6 billion post netting failure pile.
• $5.2 billion per day aren't handled by CNS netting. $2.1 billion fail. That is 40% of the trades, fail. $130 billion to $160 billion stock trades daily. $63 billion fails just in NYSE firms. That is around 40%.
• The SEC insists that the failure issue isn't a big problem. So does the DTCC. So does Wall Street. None of these entities have commented on the SIA spreadsheet, nor has the NY financial press. Not one comment. None.
• $63 billion is a big problem. That is a mark-to-market number, where yesterday's $20 stock is today $1, thus yesterday's $20 billion problem is now valued as a $1 billion problem. That means the actual true value of the problem is likely 10-20 times larger.
• $630 billion to $1.2 trillion is a very big problem. Even by NY standards.
• The SEC "grandfathered" all failed to deliver trades prior to January, 2005, effectively pardoning all those trades (for which money was paid but no stock ever delivered), from ever being required to deliver. This amounts to allowing those that violated delivery rules to keep the money from their illegal conduct.
• The SEC keeps the number of shares grandfathered, as well as the dollar amount, secret, for fear of creating market disrupting "volatility".
• The above numbers do not take into account the large number of undelivered trades that are handled "Ex-Clearing" – a way of handling delivery outside the system. Nor do they take into account pre-CNS netting, nor international clearing house fails.
• Many securities scholars believe the "Ex-Clearing" failure problem is 10 times larger than the in-system problem the above numbers represent.
• Many investors that think they have "shares" in their brokerage accounts, don't. They have "markers" that have no underlying share to validate them. Some call these "counterfeit shares", with good reason. The technical term is "Securities Entitlement."
• UCC8 mandates that all Securities Entitlements have a genuine share on deposit at the DTC, or in the broker's possession, for each Securities Entitlement. That rule is ignored by the SEC and Wall Street.
• The DTCC, via Cede & Co., is the registered owner of all shares held in "Street Name," which are all shares in margin accounts.
• Margin accounts represent the bulk of independent investor account types.
• Registered owners are free to use their "property" as collateral for loans or debt.
• It is unknown what, if any, loans or debts are collateralized by the stock "owned" by the DTCC.
• The DTCC's "Stock Borrow Program" lends shares to be delivered to buyers, if sellers fail to deliver.
• The Stock Borrow Program is operated on the honor system, and is anonymous.
• It allows one genuine share to be lent multiple times, leaving a string of markers/IOUs in the share's wake.
• This creates a systemic risk for the stock market, as more markers are in investor accounts, falsely represented as shares, than shares actually authorized by the companies.
• These markers are freely traded and treated by the system as real, resulting in a large secondary market of counterfeit shares – resulting in depressed stock prices.
• With paper certificates being eliminated – by the DTCC – there is no way to confirm that a share is genuine, versus a bogus marker.
• There is nothing to stop your broker from taking your money, and merely representing to you that you bought shares, without ever actually buying them. You have no way of knowing the difference, barring demanding paper certificates for your property.
• Only a handful of people on the planet understand all this.
• In the end, it is simple – Wall Street is printing shares electronically, investors are paying real money for those bogus shares, and the whole thing is predicated on the idea that few will ever understand what is being done, or bother to check.
• This represents a hidden tax on investors and the economy.
• It is, for the most part, illegal.
• It is being kept secret by the DTCC and the SEC, who are terrified of systemic collapse, and a complete loss of investor confidence, should all the facts become known.
• All the facts are becoming known.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33434310
NONE.....OF YOUR POSTS ARE GUARANTEED TO BE LEFT UP.....IF I DONT LIKE EM.....THEY GO! Please observe the TOS rules! I will try as well...not easy...but will give it my best!!
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