Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
2b - i guess, even if you bought in at .05, now is not the time to take profits?
soo...will we have a new 52 week high friday morning?
stay tuned.
rp/ff did state that edig would have a presence at the ces; they would be one of the featured products at the texas instrument's booth.
wistron - quite possibly, i hear shanghai is a popular travel destination lol.
would be nice if edigital reaped some of the benefits that the opening of trade agreements with china will bring. seems that a few of edigital staff have been making near-weekly trips to hong kong. murgirl, does winstrom have an office there?lol: or possible new avenues of financing warrant all that travel. sure would be nice to have an ife device on a flight of that duration; and there is a number of large airlines that make that flight such as malayasia, british airways, united and cathay pacific.
looks like when we established a new high, the old high didn't give us much support, so much for the value of technicals lol.
trillium7 thanks, your memory is better than mine.
gernb1 - wasn't westinghouse the sponsor of the original "house of tommorrow" at disneyland; many years ago.
interesting how one-tenth of one percent of the outstanding shares of edig stock are traded; but yet the shareprice is down ten percent.
DEF 14A: EDIG Vote; Elect Directors; Ratify Auditor [delayed]
Ridgeland, MS, OCT 23, 2003 (EventX/Knobias.com via COMTEX) -- According to a DEF 14A filed today, the Annual Meeting of Stockholders of e.Digital Corporation (OTCBB: EDIG) will be held at the offices of the Company, located at 13114 Evening Creek Drive South, San Diego, California 92128, on Thursday, December 4, 2003, at 5:00 p.m. ET. The Annual Meeting will be held for the following purposes:
1. To elect directors of the Company to serve as directors until the annual meeting of stockholders to be held in 2004, and until such directors' successor has been duly elected and qualified or until such directors have otherwise ceased to serve as directors.
2. To ratify the appointment of Singer Lewak Greenbaum & Goldstein, LLP as independent accountants for the Company for the fiscal year ending March 31, 2004.
3. To transact such other business as may properly come before the meeting or any postponements or adjournments thereof.
last post - o/t, my apology
Short Seller Skirmishes Break Out on Widening Battlefield
Oct 3, 2003 (financialwire.net via COMTEX) -- (FinancialWire) Jag Media Holdings (OTCBB: JGMHA), A.G. Edwards (NYSE: AGE), GloTech Industries (OTCBB: GTHI), and Universal Express (OTCBB: USXP) were all at the forefront of a series of skirmishes in the short seller wars Thursday.
United States District Judge Virginia Gilmore denied the efforts by A.G. Edwards and some 100 brokers to have the manipulative trading cases filed against them by Jag Media and CEO Gary Valinoti dismissed, but instructed the plaintiffs to return with an amended fact-filled pleading within 20 days.
Meanwhile, GloTech Industries, Inc. (OTCBB: GTHI) became the 119th public company touched by the growing national scandal involving illegal manipulative trading that has so far escaped substantive attention or regulation by NASD or the U.S. Securities and Exchange Commission.
GloTech said it has learned that some of the Company's shareholders are having difficulty obtaining certificates from certain brokerage firms.
"Based upon preliminary research and information obtained from the Depository Trust Company, the Company believes that certain brokerage firms may have been engaging in a practice known as 'naked short sales'. It is the Company's understanding that a 'naked short' is created when a brokerage firm sells shares that it has neither purchased nor borrowed with the intent of either a) later purchasing the shares at a lower price and only then delivering them to the buyer or b) never delivering the shares sold. An effect of sustained 'naked shorting' can be 'artificial' or 'manufactured' downward pressure on the stock being sold. "Further, the Company understands that this practice is considered 'manipulative' and illegal. The Company believes that up to three hundred thousand (300,000) shares, or approximately seventeen (17) times GloTech's average daily trading volume, may have been sold in this fashion."
GloTech said its legal counsel are actively "investigating this occurrence and reviewing appropriate legal action and other available remedies. GloTech intends to vigorously work to protect the integrity of the market for its stock and the interests of its shareholders."
GloTech said it has been advised that the only way to be absolutely certain that shares purchased through a brokerage account are validly issued, is to demand physical delivery of a stock certificate evidencing ownership of the total number of shares purchased. "Therefore, it said, "the Company strongly recommends that all shareholders contact their brokerage firms and request physical delivery of their stock certificates immediately. Failure of the brokerage firm to deliver a customer's stock certificates in a timely manner may be an indicator of 'naked short sales'. Shareholders are encouraged to file a complaint against such brokerage firms with the NASD. Complaints can be filed online at www.nasd.com .
GloTech said it has discovered a growing body of litigation and published articles which, combined with increasing public awareness of the problem, should ultimately lead to market reforms in this area.
Meanwhile, GloTech said it will reimburse any related transfer costs paid by GloTech shareholders during the next ninety (90) days.
Universal Express, Inc. (OTCBB: USXP) reminded the public that on September 23 it urged shareholders to contact their congresspersons in the U.S. House of Representatives and the U.S. Senate to request the Securities and Exchange Commission to put an immediate end to "naked short selling".
Universal Express describes "naked short selling" as the electronic churning downward of the shares of small developing OTCBB companies without actually trading the shares.
Richard A. Altomare, President & CEO of Universal Express noted, "When you never intend or fail to cover short sales, you are counterfeiting stock. Counterfeit stock added to a float drives prices down. This abuse of short selling by the broker dealers and the market makers who conspire with them devastates small emerging companies."
"In what appears to be the first admission by an SEC regulator that naked short selling is occurring, SEC market regulation division director Annette Nazareth disclosed in a recent Dow Jones interview that the SEC would consider changes to short-selling rules this fall: "It's expected that the commission will consider short selling reforms in the next few months." To combat such abuses, the SEC will look to increase borrowing requirements for some short sales and call for stronger enforcement including late charges or other financial penalties for short sellers who fail to cover short positions by the settlement date, noted Dow Jones.
Altomare continued, "Naked short selling is nothing more than economic terrorism. It hurts job creation by small emerging firms; small emerging firms are the engines for new jobs. It is a national scandal that has cost us, along with other small companies and their shareholders, hundreds of millions of dollars in dramatically reduced share prices. Once the stock price drops, the next step for most small public companies is to cut back and start laying off. That is where the economic terrorism unfolds. Up to now, the SEC has done little to stop this activity. The SEC has not prevented illegal short selling in the OTCBB market, where the newer smaller emerging firms find themselves. The SEC's complex regulations are focused on the more established companies, the more established capital markets. Maintaining a small public company under these conditions is costly and sometimes not worthwhile. The SEC should not condone this economic terrorism. It should move forward with meaningful changes. We encourage our shareholders to contact their Representatives in the House and Senate about this short selling abuse. Changes are needed. All of us in the smaller business community want to grow. We want and look forward to working with the SEC's new leadership to restore integrity to the OTCBB markets."
Universal Express said it had been asked by the Denver office of the SEC to "prove" short-selling exists, but the company provided no update on that dialogue, which its counsel earlier described as an attempt to squelch the company's right of free speech.
There are 119 public companies that have so far been touched by the growing national financial scandal.
Some thirteen on the list of 119, such as A.G. Edwards, Inc. (NYSE: AGE), Ameritrade Holding Corp. (NASDAQ: AMTD), Deutsche Bank AG (NYSE: DB), E*Trade Group, Inc. (NYSE: ET), FleetBoston (NYSE: FBF), Goldman, Sachs & Co. (NYSE: GS), Knight Securities, LP (NASDAQ: NITE), Ladenburg Thalmann & Co., Inc. (AMEX: LHS), M. H. Myerson & Co., Inc. (NASDAQ: MHMY), Olde / H&R Block (NYSE: HRB), Charles Schwab (NYSE: SCH), Toronto-Dominion's (NYSE: TD), TD Waterhouse Group and vFinance, Inc. (OTCBB: VFIN), have been accused by one or more public companies as allegedly participating in short selling activities or abuses, or of failing to settle trades.
Observers have said that trades to not settle because broker-dealers do not effect buy-ins, as required by law, and that there is an unspoken understanding that any brokerage that tries to force a buy-in will be retaliated against.
The remaining 106 companies have issued press releases or been named in the media as having been victimized, or as taking various actions, either alone or in concert with other companies, to oppose manipulative trading in the form of illegal naked short selling. The actions have ranged from lawsuits to withdrawals and threatened withdrawals from the electronic trading system managed by the Depository Trust & Clearing Corp., to withdrawals from toxic financings, to the issuance of dividends or name changes designed to squeeze manipulators, to joining associations or networks or to contacting regulatory authorities to provide documentation of abuses or otherwise complain.
On June 4, the SEC stated "the issues surrounding naked short selling are not germane to the manner in which DTC operates as a depository registered as a clearing agency. Decisions to engage in such transactions are made by parties other than DTC. DTC does not allow its participants to establish short positions resulting from their failure to deliver securities at settlement. While the Commission appreciates commenters' concerns about manipulative activity, those concerns must be addressed by other means."
Nevertheless, short positions do in fact exist due to failures of the electronic settlement system to balance their electronic books, and the SEC has provided shareholders and small companies with no inkling of what the Commission has in mind in "addressing" these concerns "by other means."
However, in mid-September the SEC admitted in a Dow Jones interview that "naked short selling" is a problem, and said its market regulatory division is taking aim at the practice. However, one public company reported that two days later a field office of the SEC asked the public company to "prove naked short selling exists," once more seemingly sending mixed signals to shareholders trapped in the manipulators' vise.
Recently the NASD revealed its plan to stop the practices that have ravaged these public companies and their shareholders - a wrist-slap to perpetrators such as Paragon Capital Markets, which was "censured" and fined $35,000 after the NASD said it had "executed short-sale orders in certain securities and failed to make an affirmative determination prior to executing such transactions." An even smaller fine was subsequently assessed against vFinance for similar allegations.
The complete list of those 106 companies include Advanced Viral Research Corp. (OTCBB: ADVR), AdZone Research, Inc. (OTCBB: ADZR), Amazon Natural Treasures (OTC: ANTD), America's Senior Financial Services (OTCBB: AMSE), American Ammunition, Inc. (OTCBB: AAMI), AngelCiti Entertainment (OTCBB: AGLC), ATSI Communications, Inc. (OTC: ATSC), Federal Agricultural Mortgage / Farmer Mac (NYSE: AGM) Allied Capital (NYSE: ALD), American Motorcycle (OTC: AMCYV), American International Industries (OTCBB: AMIN), Ameri-Dream (OTC: AMDR), Adirondack Pure Springs Mt. Water Co. (OTCBB: APSW), Bluebook International (OTCBB: BBIC), Blue Industries (OTCBB: BLIIV), Bentley Communications (OTCBB: BTLY), BIFS Technologies Corporation (OTCBB: BIFT), Biocurex (OTCBB: BOCX). Broadleaf Capital Partners, Inc. (OTCBB: BDLF), Chattem, Inc. (NASDAQ: CHTT), Critical Home Care (OTCBB: CCLH), Composite Holdings (OTC: COHIA), CyberDigital, Inc. (OTCBB: CYBD). Diamond International Group (OTCBB: DMND), Dobson Communications Corp. (NASDAQ: DCEL), Eagle Tech Communications (OTC: EATC), Edgetech Services (OTCBB: EDGH);
Also, Endovasc Ltd. (OTCBB: EVSC), Enviro-Energy Corporation (OTCBB: ENGY), Environmental Products & Technologies (OTC: EPTC), EPIXTAR Corp. (OTCBB: EPXR), eResearchTechnologies, Inc. (NASDAQ: ERES), Flight Safety Technologies (OTCBB: FLST), Freddie Mac (NYSE: FRE), FreeStar Technologies (OTCBB: FSRCE), Geotec Thermal Generators, Inc. (OTCBB: GETC), Genesis Intermedia (OTC: GENI), GeneMax Corp. (OTCBB: GMXX), Global Explorations Inc (OTC: GXXL), Global Path (OTCBB: GBPI), GloTech Industries, Inc. (OTCBB: GTHI), Green Dolphin Systems (OTCBB: GLDS), Group Management (OTCBB: GPMT), Hop-On (OTC: HPON), H-Quotient, Inc., (OTCBB: HQNT), Hyperdynamics Corp. (OTCBB: HYPD), International Biochem (OTCBB: IBCL), Intergold Corp. (OTCBB: IGCO), International Broadcasting Corporation (OTCBB: IBCS), InternetStudios, Inc. (OTCBB: ISTO), ITIS Holdings (OTCBB: ITHH), Investco Corp. (OTCBB: IVCO), Lair Holdings (OTC: LAIR), Lifeline BioTechnologies Inc. (OTC: LBTT), Life Energy & Technology (OTCBB: LETH), MBIA (NYSE: MBI);
Also, MegaMania Interactive (OTC: MNIA), MetaSource Group, Inc. (OTCBB: MTSR), Midastrade.com (OTC: MIDS), Make Your Move (OTCBB: MKMV), Medinah Minerals (OTC: MDMN), MSM Jewelry Corp. (OTC: MSMC), Nanopierce Technologies, Inc. (OTCBB: NPCT), Nutra Pharmaceutical (OTCBB: NPHC), Nutek (OTCBB: NUTK), Navigator Ventures (OTC: NVGV), Orbit E-Commerce, Inc. (OTCBB: OECI), Pitts & Spitts (OTC: PSPP), Sales OnLine Direct (OTCBB: PAID), Pacel Corp. (OTCBB: PACC), PayStar Corporation (OTC: PYST), Petrogen Corp. (OTCBB: PTGC), Pinnacle Business Management (OTC: PCBM), Premier Development & Investment, Inc. (OTCBB: PDVN), PrimeHoldings.com, Inc. (OTC: PRIM), Phlo Corporation (OTCBB: PHLC), Resourcing Solutions (OTC: RESG), Reed Holdings (OTC: RDHC), Rocky Mountain Energy Corp. (OTCBB: RMECE), RTIN Holdings (OTCBB: RTNHE), Saflink Corp. (NASDAQ: SFLK), Safe Travel Care (OTCBB: SFTVV), Sedona Corp. (OTCBB: SDNA);
Also, Sionix Corp. (OTCBB: SINX), Sonoran Energy (OTCBB: SNRN), Starmax Technologies (OTC: SMXIF), Storage Suites America (OTC: SSUA), Suncomm Technologies (OTC: STEH), Sports Resorts International (NASDAQ: SPRI), Technology Logistics (OTC: TLOS), Swiss Medica, Inc. (OTCBB: SWME), Ten Stix, Inc. (OTCBB: TNTI), Tidelands Oil (OTCBB: TIDE), Titan Construction (OTC: TTCS), Trezac Corp. (OTCBB: TRZAV), Universal Express, Inc. (OTCBB: USXP), Valesc Holdings, Inc. (OTCBB: VLSHV), Vega Atlantic (OTCBB: VGAC), Viragen (AMEX: VRA), Viragen International (OTCBB: VGNI), Vista Continental Corporation, (OTCBB: VICC), Viva International (OTCBB: VIVI), Vtex Energy (OTCBB: VXENE) and Wizzard Software (OTCBB: WIZD), WorldTradeShow.com (OTC: WTSW) and Y3K Secure Enterprise Software, Inc. (OTCBB: YTHK).
For up-to-the-minute news, features and links click on www.financialwire.net
For FinancialWire audio clips, click on partner ON24 at www.on24news.com
FinancialWire is an independent, proprietary news service of Investrend Information, a division of Investrend Communications, Inc. Additionally, Investrend provides a wide range of forums, independent research and webcasting platforms for shareholder empowerment. For more information or to receive the FirstAlert daily summary of news, commentary, research reports, webcasts, events and conference calls, click on www.investrend.com/contact.asp
URL: www.financialwire.net
(C) 2003 financialwire.net, Inc. All rights reserved.
-0-
Short Seller Skirmishes Break Out on Widening Battlefield
Oct 3, 2003 (financialwire.net via COMTEX) -- (FinancialWire) Jag Media Holdings (OTCBB: JGMHA), A.G. Edwards (NYSE: AGE), GloTech Industries (OTCBB: GTHI), and Universal Express (OTCBB: USXP) were all at the forefront of a series of skirmishes in the short seller wars Thursday.
United States District Judge Virginia Gilmore denied the efforts by A.G. Edwards and some 100 brokers to have the manipulative trading cases filed against them by Jag Media and CEO Gary Valinoti dismissed, but instructed the plaintiffs to return with an amended fact-filled pleading within 20 days.
Meanwhile, GloTech Industries, Inc. (OTCBB: GTHI) became the 119th public company touched by the growing national scandal involving illegal manipulative trading that has so far escaped substantive attention or regulation by NASD or the U.S. Securities and Exchange Commission.
GloTech said it has learned that some of the Company's shareholders are having difficulty obtaining certificates from certain brokerage firms.
"Based upon preliminary research and information obtained from the Depository Trust Company, the Company believes that certain brokerage firms may have been engaging in a practice known as 'naked short sales'. It is the Company's understanding that a 'naked short' is created when a brokerage firm sells shares that it has neither purchased nor borrowed with the intent of either a) later purchasing the shares at a lower price and only then delivering them to the buyer or b) never delivering the shares sold. An effect of sustained 'naked shorting' can be 'artificial' or 'manufactured' downward pressure on the stock being sold. "Further, the Company understands that this practice is considered 'manipulative' and illegal. The Company believes that up to three hundred thousand (300,000) shares, or approximately seventeen (17) times GloTech's average daily trading volume, may have been sold in this fashion."
GloTech said its legal counsel are actively "investigating this occurrence and reviewing appropriate legal action and other available remedies. GloTech intends to vigorously work to protect the integrity of the market for its stock and the interests of its shareholders."
GloTech said it has been advised that the only way to be absolutely certain that shares purchased through a brokerage account are validly issued, is to demand physical delivery of a stock certificate evidencing ownership of the total number of shares purchased. "Therefore, it said, "the Company strongly recommends that all shareholders contact their brokerage firms and request physical delivery of their stock certificates immediately. Failure of the brokerage firm to deliver a customer's stock certificates in a timely manner may be an indicator of 'naked short sales'. Shareholders are encouraged to file a complaint against such brokerage firms with the NASD. Complaints can be filed online at www.nasd.com .
GloTech said it has discovered a growing body of litigation and published articles which, combined with increasing public awareness of the problem, should ultimately lead to market reforms in this area.
Meanwhile, GloTech said it will reimburse any related transfer costs paid by GloTech shareholders during the next ninety (90) days.
Universal Express, Inc. (OTCBB: USXP) reminded the public that on September 23 it urged shareholders to contact their congresspersons in the U.S. House of Representatives and the U.S. Senate to request the Securities and Exchange Commission to put an immediate end to "naked short selling".
Universal Express describes "naked short selling" as the electronic churning downward of the shares of small developing OTCBB companies without actually trading the shares.
Richard A. Altomare, President & CEO of Universal Express noted, "When you never intend or fail to cover short sales, you are counterfeiting stock. Counterfeit stock added to a float drives prices down. This abuse of short selling by the broker dealers and the market makers who conspire with them devastates small emerging companies."
"In what appears to be the first admission by an SEC regulator that naked short selling is occurring, SEC market regulation division director Annette Nazareth disclosed in a recent Dow Jones interview that the SEC would consider changes to short-selling rules this fall: "It's expected that the commission will consider short selling reforms in the next few months." To combat such abuses, the SEC will look to increase borrowing requirements for some short sales and call for stronger enforcement including late charges or other financial penalties for short sellers who fail to cover short positions by the settlement date, noted Dow Jones.
Altomare continued, "Naked short selling is nothing more than economic terrorism. It hurts job creation by small emerging firms; small emerging firms are the engines for new jobs. It is a national scandal that has cost us, along with other small companies and their shareholders, hundreds of millions of dollars in dramatically reduced share prices. Once the stock price drops, the next step for most small public companies is to cut back and start laying off. That is where the economic terrorism unfolds. Up to now, the SEC has done little to stop this activity. The SEC has not prevented illegal short selling in the OTCBB market, where the newer smaller emerging firms find themselves. The SEC's complex regulations are focused on the more established companies, the more established capital markets. Maintaining a small public company under these conditions is costly and sometimes not worthwhile. The SEC should not condone this economic terrorism. It should move forward with meaningful changes. We encourage our shareholders to contact their Representatives in the House and Senate about this short selling abuse. Changes are needed. All of us in the smaller business community want to grow. We want and look forward to working with the SEC's new leadership to restore integrity to the OTCBB markets."
Universal Express said it had been asked by the Denver office of the SEC to "prove" short-selling exists, but the company provided no update on that dialogue, which its counsel earlier described as an attempt to squelch the company's right of free speech.
There are 119 public companies that have so far been touched by the growing national financial scandal.
Some thirteen on the list of 119, such as A.G. Edwards, Inc. (NYSE: AGE), Ameritrade Holding Corp. (NASDAQ: AMTD), Deutsche Bank AG (NYSE: DB), E*Trade Group, Inc. (NYSE: ET), FleetBoston (NYSE: FBF), Goldman, Sachs & Co. (NYSE: GS), Knight Securities, LP (NASDAQ: NITE), Ladenburg Thalmann & Co., Inc. (AMEX: LHS), M. H. Myerson & Co., Inc. (NASDAQ: MHMY), Olde / H&R Block (NYSE: HRB), Charles Schwab (NYSE: SCH), Toronto-Dominion's (NYSE: TD), TD Waterhouse Group and vFinance, Inc. (OTCBB: VFIN), have been accused by one or more public companies as allegedly participating in short selling activities or abuses, or of failing to settle trades.
Observers have said that trades to not settle because broker-dealers do not effect buy-ins, as required by law, and that there is an unspoken understanding that any brokerage that tries to force a buy-in will be retaliated against.
The remaining 106 companies have issued press releases or been named in the media as having been victimized, or as taking various actions, either alone or in concert with other companies, to oppose manipulative trading in the form of illegal naked short selling. The actions have ranged from lawsuits to withdrawals and threatened withdrawals from the electronic trading system managed by the Depository Trust & Clearing Corp., to withdrawals from toxic financings, to the issuance of dividends or name changes designed to squeeze manipulators, to joining associations or networks or to contacting regulatory authorities to provide documentation of abuses or otherwise complain.
On June 4, the SEC stated "the issues surrounding naked short selling are not germane to the manner in which DTC operates as a depository registered as a clearing agency. Decisions to engage in such transactions are made by parties other than DTC. DTC does not allow its participants to establish short positions resulting from their failure to deliver securities at settlement. While the Commission appreciates commenters' concerns about manipulative activity, those concerns must be addressed by other means."
Nevertheless, short positions do in fact exist due to failures of the electronic settlement system to balance their electronic books, and the SEC has provided shareholders and small companies with no inkling of what the Commission has in mind in "addressing" these concerns "by other means."
However, in mid-September the SEC admitted in a Dow Jones interview that "naked short selling" is a problem, and said its market regulatory division is taking aim at the practice. However, one public company reported that two days later a field office of the SEC asked the public company to "prove naked short selling exists," once more seemingly sending mixed signals to shareholders trapped in the manipulators' vise.
Recently the NASD revealed its plan to stop the practices that have ravaged these public companies and their shareholders - a wrist-slap to perpetrators such as Paragon Capital Markets, which was "censured" and fined $35,000 after the NASD said it had "executed short-sale orders in certain securities and failed to make an affirmative determination prior to executing such transactions." An even smaller fine was subsequently assessed against vFinance for similar allegations.
The complete list of those 106 companies include Advanced Viral Research Corp. (OTCBB: ADVR), AdZone Research, Inc. (OTCBB: ADZR), Amazon Natural Treasures (OTC: ANTD), America's Senior Financial Services (OTCBB: AMSE), American Ammunition, Inc. (OTCBB: AAMI), AngelCiti Entertainment (OTCBB: AGLC), ATSI Communications, Inc. (OTC: ATSC), Federal Agricultural Mortgage / Farmer Mac (NYSE: AGM) Allied Capital (NYSE: ALD), American Motorcycle (OTC: AMCYV), American International Industries (OTCBB: AMIN), Ameri-Dream (OTC: AMDR), Adirondack Pure Springs Mt. Water Co. (OTCBB: APSW), Bluebook International (OTCBB: BBIC), Blue Industries (OTCBB: BLIIV), Bentley Communications (OTCBB: BTLY), BIFS Technologies Corporation (OTCBB: BIFT), Biocurex (OTCBB: BOCX). Broadleaf Capital Partners, Inc. (OTCBB: BDLF), Chattem, Inc. (NASDAQ: CHTT), Critical Home Care (OTCBB: CCLH), Composite Holdings (OTC: COHIA), CyberDigital, Inc. (OTCBB: CYBD). Diamond International Group (OTCBB: DMND), Dobson Communications Corp. (NASDAQ: DCEL), Eagle Tech Communications (OTC: EATC), Edgetech Services (OTCBB: EDGH);
Also, Endovasc Ltd. (OTCBB: EVSC), Enviro-Energy Corporation (OTCBB: ENGY), Environmental Products & Technologies (OTC: EPTC), EPIXTAR Corp. (OTCBB: EPXR), eResearchTechnologies, Inc. (NASDAQ: ERES), Flight Safety Technologies (OTCBB: FLST), Freddie Mac (NYSE: FRE), FreeStar Technologies (OTCBB: FSRCE), Geotec Thermal Generators, Inc. (OTCBB: GETC), Genesis Intermedia (OTC: GENI), GeneMax Corp. (OTCBB: GMXX), Global Explorations Inc (OTC: GXXL), Global Path (OTCBB: GBPI), GloTech Industries, Inc. (OTCBB: GTHI), Green Dolphin Systems (OTCBB: GLDS), Group Management (OTCBB: GPMT), Hop-On (OTC: HPON), H-Quotient, Inc., (OTCBB: HQNT), Hyperdynamics Corp. (OTCBB: HYPD), International Biochem (OTCBB: IBCL), Intergold Corp. (OTCBB: IGCO), International Broadcasting Corporation (OTCBB: IBCS), InternetStudios, Inc. (OTCBB: ISTO), ITIS Holdings (OTCBB: ITHH), Investco Corp. (OTCBB: IVCO), Lair Holdings (OTC: LAIR), Lifeline BioTechnologies Inc. (OTC: LBTT), Life Energy & Technology (OTCBB: LETH), MBIA (NYSE: MBI);
Also, MegaMania Interactive (OTC: MNIA), MetaSource Group, Inc. (OTCBB: MTSR), Midastrade.com (OTC: MIDS), Make Your Move (OTCBB: MKMV), Medinah Minerals (OTC: MDMN), MSM Jewelry Corp. (OTC: MSMC), Nanopierce Technologies, Inc. (OTCBB: NPCT), Nutra Pharmaceutical (OTCBB: NPHC), Nutek (OTCBB: NUTK), Navigator Ventures (OTC: NVGV), Orbit E-Commerce, Inc. (OTCBB: OECI), Pitts & Spitts (OTC: PSPP), Sales OnLine Direct (OTCBB: PAID), Pacel Corp. (OTCBB: PACC), PayStar Corporation (OTC: PYST), Petrogen Corp. (OTCBB: PTGC), Pinnacle Business Management (OTC: PCBM), Premier Development & Investment, Inc. (OTCBB: PDVN), PrimeHoldings.com, Inc. (OTC: PRIM), Phlo Corporation (OTCBB: PHLC), Resourcing Solutions (OTC: RESG), Reed Holdings (OTC: RDHC), Rocky Mountain Energy Corp. (OTCBB: RMECE), RTIN Holdings (OTCBB: RTNHE), Saflink Corp. (NASDAQ: SFLK), Safe Travel Care (OTCBB: SFTVV), Sedona Corp. (OTCBB: SDNA);
Also, Sionix Corp. (OTCBB: SINX), Sonoran Energy (OTCBB: SNRN), Starmax Technologies (OTC: SMXIF), Storage Suites America (OTC: SSUA), Suncomm Technologies (OTC: STEH), Sports Resorts International (NASDAQ: SPRI), Technology Logistics (OTC: TLOS), Swiss Medica, Inc. (OTCBB: SWME), Ten Stix, Inc. (OTCBB: TNTI), Tidelands Oil (OTCBB: TIDE), Titan Construction (OTC: TTCS), Trezac Corp. (OTCBB: TRZAV), Universal Express, Inc. (OTCBB: USXP), Valesc Holdings, Inc. (OTCBB: VLSHV), Vega Atlantic (OTCBB: VGAC), Viragen (AMEX: VRA), Viragen International (OTCBB: VGNI), Vista Continental Corporation, (OTCBB: VICC), Viva International (OTCBB: VIVI), Vtex Energy (OTCBB: VXENE) and Wizzard Software (OTCBB: WIZD), WorldTradeShow.com (OTC: WTSW) and Y3K Secure Enterprise Software, Inc. (OTCBB: YTHK).
For up-to-the-minute news, features and links click on www.financialwire.net
For FinancialWire audio clips, click on partner ON24 at www.on24news.com
FinancialWire is an independent, proprietary news service of Investrend Information, a division of Investrend Communications, Inc. Additionally, Investrend provides a wide range of forums, independent research and webcasting platforms for shareholder empowerment. For more information or to receive the FirstAlert daily summary of news, commentary, research reports, webcasts, events and conference calls, click on www.investrend.com/contact.asp
URL: www.financialwire.net
(C) 2003 financialwire.net, Inc. All rights reserved.
-0-
Short Seller Skirmishes Break Out on Widening Battlefield
Oct 3, 2003 (financialwire.net via COMTEX) -- (FinancialWire) Jag Media Holdings (OTCBB: JGMHA), A.G. Edwards (NYSE: AGE), GloTech Industries (OTCBB: GTHI), and Universal Express (OTCBB: USXP) were all at the forefront of a series of skirmishes in the short seller wars Thursday.
United States District Judge Virginia Gilmore denied the efforts by A.G. Edwards and some 100 brokers to have the manipulative trading cases filed against them by Jag Media and CEO Gary Valinoti dismissed, but instructed the plaintiffs to return with an amended fact-filled pleading within 20 days.
Meanwhile, GloTech Industries, Inc. (OTCBB: GTHI) became the 119th public company touched by the growing national scandal involving illegal manipulative trading that has so far escaped substantive attention or regulation by NASD or the U.S. Securities and Exchange Commission.
GloTech said it has learned that some of the Company's shareholders are having difficulty obtaining certificates from certain brokerage firms.
"Based upon preliminary research and information obtained from the Depository Trust Company, the Company believes that certain brokerage firms may have been engaging in a practice known as 'naked short sales'. It is the Company's understanding that a 'naked short' is created when a brokerage firm sells shares that it has neither purchased nor borrowed with the intent of either a) later purchasing the shares at a lower price and only then delivering them to the buyer or b) never delivering the shares sold. An effect of sustained 'naked shorting' can be 'artificial' or 'manufactured' downward pressure on the stock being sold. "Further, the Company understands that this practice is considered 'manipulative' and illegal. The Company believes that up to three hundred thousand (300,000) shares, or approximately seventeen (17) times GloTech's average daily trading volume, may have been sold in this fashion."
GloTech said its legal counsel are actively "investigating this occurrence and reviewing appropriate legal action and other available remedies. GloTech intends to vigorously work to protect the integrity of the market for its stock and the interests of its shareholders."
GloTech said it has been advised that the only way to be absolutely certain that shares purchased through a brokerage account are validly issued, is to demand physical delivery of a stock certificate evidencing ownership of the total number of shares purchased. "Therefore, it said, "the Company strongly recommends that all shareholders contact their brokerage firms and request physical delivery of their stock certificates immediately. Failure of the brokerage firm to deliver a customer's stock certificates in a timely manner may be an indicator of 'naked short sales'. Shareholders are encouraged to file a complaint against such brokerage firms with the NASD. Complaints can be filed online at www.nasd.com .
GloTech said it has discovered a growing body of litigation and published articles which, combined with increasing public awareness of the problem, should ultimately lead to market reforms in this area.
Meanwhile, GloTech said it will reimburse any related transfer costs paid by GloTech shareholders during the next ninety (90) days.
Universal Express, Inc. (OTCBB: USXP) reminded the public that on September 23 it urged shareholders to contact their congresspersons in the U.S. House of Representatives and the U.S. Senate to request the Securities and Exchange Commission to put an immediate end to "naked short selling".
Universal Express describes "naked short selling" as the electronic churning downward of the shares of small developing OTCBB companies without actually trading the shares.
Richard A. Altomare, President & CEO of Universal Express noted, "When you never intend or fail to cover short sales, you are counterfeiting stock. Counterfeit stock added to a float drives prices down. This abuse of short selling by the broker dealers and the market makers who conspire with them devastates small emerging companies."
"In what appears to be the first admission by an SEC regulator that naked short selling is occurring, SEC market regulation division director Annette Nazareth disclosed in a recent Dow Jones interview that the SEC would consider changes to short-selling rules this fall: "It's expected that the commission will consider short selling reforms in the next few months." To combat such abuses, the SEC will look to increase borrowing requirements for some short sales and call for stronger enforcement including late charges or other financial penalties for short sellers who fail to cover short positions by the settlement date, noted Dow Jones.
Altomare continued, "Naked short selling is nothing more than economic terrorism. It hurts job creation by small emerging firms; small emerging firms are the engines for new jobs. It is a national scandal that has cost us, along with other small companies and their shareholders, hundreds of millions of dollars in dramatically reduced share prices. Once the stock price drops, the next step for most small public companies is to cut back and start laying off. That is where the economic terrorism unfolds. Up to now, the SEC has done little to stop this activity. The SEC has not prevented illegal short selling in the OTCBB market, where the newer smaller emerging firms find themselves. The SEC's complex regulations are focused on the more established companies, the more established capital markets. Maintaining a small public company under these conditions is costly and sometimes not worthwhile. The SEC should not condone this economic terrorism. It should move forward with meaningful changes. We encourage our shareholders to contact their Representatives in the House and Senate about this short selling abuse. Changes are needed. All of us in the smaller business community want to grow. We want and look forward to working with the SEC's new leadership to restore integrity to the OTCBB markets."
Universal Express said it had been asked by the Denver office of the SEC to "prove" short-selling exists, but the company provided no update on that dialogue, which its counsel earlier described as an attempt to squelch the company's right of free speech.
There are 119 public companies that have so far been touched by the growing national financial scandal.
Some thirteen on the list of 119, such as A.G. Edwards, Inc. (NYSE: AGE), Ameritrade Holding Corp. (NASDAQ: AMTD), Deutsche Bank AG (NYSE: DB), E*Trade Group, Inc. (NYSE: ET), FleetBoston (NYSE: FBF), Goldman, Sachs & Co. (NYSE: GS), Knight Securities, LP (NASDAQ: NITE), Ladenburg Thalmann & Co., Inc. (AMEX: LHS), M. H. Myerson & Co., Inc. (NASDAQ: MHMY), Olde / H&R Block (NYSE: HRB), Charles Schwab (NYSE: SCH), Toronto-Dominion's (NYSE: TD), TD Waterhouse Group and vFinance, Inc. (OTCBB: VFIN), have been accused by one or more public companies as allegedly participating in short selling activities or abuses, or of failing to settle trades.
Observers have said that trades to not settle because broker-dealers do not effect buy-ins, as required by law, and that there is an unspoken understanding that any brokerage that tries to force a buy-in will be retaliated against.
The remaining 106 companies have issued press releases or been named in the media as having been victimized, or as taking various actions, either alone or in concert with other companies, to oppose manipulative trading in the form of illegal naked short selling. The actions have ranged from lawsuits to withdrawals and threatened withdrawals from the electronic trading system managed by the Depository Trust & Clearing Corp., to withdrawals from toxic financings, to the issuance of dividends or name changes designed to squeeze manipulators, to joining associations or networks or to contacting regulatory authorities to provide documentation of abuses or otherwise complain.
On June 4, the SEC stated "the issues surrounding naked short selling are not germane to the manner in which DTC operates as a depository registered as a clearing agency. Decisions to engage in such transactions are made by parties other than DTC. DTC does not allow its participants to establish short positions resulting from their failure to deliver securities at settlement. While the Commission appreciates commenters' concerns about manipulative activity, those concerns must be addressed by other means."
Nevertheless, short positions do in fact exist due to failures of the electronic settlement system to balance their electronic books, and the SEC has provided shareholders and small companies with no inkling of what the Commission has in mind in "addressing" these concerns "by other means."
However, in mid-September the SEC admitted in a Dow Jones interview that "naked short selling" is a problem, and said its market regulatory division is taking aim at the practice. However, one public company reported that two days later a field office of the SEC asked the public company to "prove naked short selling exists," once more seemingly sending mixed signals to shareholders trapped in the manipulators' vise.
Recently the NASD revealed its plan to stop the practices that have ravaged these public companies and their shareholders - a wrist-slap to perpetrators such as Paragon Capital Markets, which was "censured" and fined $35,000 after the NASD said it had "executed short-sale orders in certain securities and failed to make an affirmative determination prior to executing such transactions." An even smaller fine was subsequently assessed against vFinance for similar allegations.
The complete list of those 106 companies include Advanced Viral Research Corp. (OTCBB: ADVR), AdZone Research, Inc. (OTCBB: ADZR), Amazon Natural Treasures (OTC: ANTD), America's Senior Financial Services (OTCBB: AMSE), American Ammunition, Inc. (OTCBB: AAMI), AngelCiti Entertainment (OTCBB: AGLC), ATSI Communications, Inc. (OTC: ATSC), Federal Agricultural Mortgage / Farmer Mac (NYSE: AGM) Allied Capital (NYSE: ALD), American Motorcycle (OTC: AMCYV), American International Industries (OTCBB: AMIN), Ameri-Dream (OTC: AMDR), Adirondack Pure Springs Mt. Water Co. (OTCBB: APSW), Bluebook International (OTCBB: BBIC), Blue Industries (OTCBB: BLIIV), Bentley Communications (OTCBB: BTLY), BIFS Technologies Corporation (OTCBB: BIFT), Biocurex (OTCBB: BOCX). Broadleaf Capital Partners, Inc. (OTCBB: BDLF), Chattem, Inc. (NASDAQ: CHTT), Critical Home Care (OTCBB: CCLH), Composite Holdings (OTC: COHIA), CyberDigital, Inc. (OTCBB: CYBD). Diamond International Group (OTCBB: DMND), Dobson Communications Corp. (NASDAQ: DCEL), Eagle Tech Communications (OTC: EATC), Edgetech Services (OTCBB: EDGH);
Also, Endovasc Ltd. (OTCBB: EVSC), Enviro-Energy Corporation (OTCBB: ENGY), Environmental Products & Technologies (OTC: EPTC), EPIXTAR Corp. (OTCBB: EPXR), eResearchTechnologies, Inc. (NASDAQ: ERES), Flight Safety Technologies (OTCBB: FLST), Freddie Mac (NYSE: FRE), FreeStar Technologies (OTCBB: FSRCE), Geotec Thermal Generators, Inc. (OTCBB: GETC), Genesis Intermedia (OTC: GENI), GeneMax Corp. (OTCBB: GMXX), Global Explorations Inc (OTC: GXXL), Global Path (OTCBB: GBPI), GloTech Industries, Inc. (OTCBB: GTHI), Green Dolphin Systems (OTCBB: GLDS), Group Management (OTCBB: GPMT), Hop-On (OTC: HPON), H-Quotient, Inc., (OTCBB: HQNT), Hyperdynamics Corp. (OTCBB: HYPD), International Biochem (OTCBB: IBCL), Intergold Corp. (OTCBB: IGCO), International Broadcasting Corporation (OTCBB: IBCS), InternetStudios, Inc. (OTCBB: ISTO), ITIS Holdings (OTCBB: ITHH), Investco Corp. (OTCBB: IVCO), Lair Holdings (OTC: LAIR), Lifeline BioTechnologies Inc. (OTC: LBTT), Life Energy & Technology (OTCBB: LETH), MBIA (NYSE: MBI);
Also, MegaMania Interactive (OTC: MNIA), MetaSource Group, Inc. (OTCBB: MTSR), Midastrade.com (OTC: MIDS), Make Your Move (OTCBB: MKMV), Medinah Minerals (OTC: MDMN), MSM Jewelry Corp. (OTC: MSMC), Nanopierce Technologies, Inc. (OTCBB: NPCT), Nutra Pharmaceutical (OTCBB: NPHC), Nutek (OTCBB: NUTK), Navigator Ventures (OTC: NVGV), Orbit E-Commerce, Inc. (OTCBB: OECI), Pitts & Spitts (OTC: PSPP), Sales OnLine Direct (OTCBB: PAID), Pacel Corp. (OTCBB: PACC), PayStar Corporation (OTC: PYST), Petrogen Corp. (OTCBB: PTGC), Pinnacle Business Management (OTC: PCBM), Premier Development & Investment, Inc. (OTCBB: PDVN), PrimeHoldings.com, Inc. (OTC: PRIM), Phlo Corporation (OTCBB: PHLC), Resourcing Solutions (OTC: RESG), Reed Holdings (OTC: RDHC), Rocky Mountain Energy Corp. (OTCBB: RMECE), RTIN Holdings (OTCBB: RTNHE), Saflink Corp. (NASDAQ: SFLK), Safe Travel Care (OTCBB: SFTVV), Sedona Corp. (OTCBB: SDNA);
Also, Sionix Corp. (OTCBB: SINX), Sonoran Energy (OTCBB: SNRN), Starmax Technologies (OTC: SMXIF), Storage Suites America (OTC: SSUA), Suncomm Technologies (OTC: STEH), Sports Resorts International (NASDAQ: SPRI), Technology Logistics (OTC: TLOS), Swiss Medica, Inc. (OTCBB: SWME), Ten Stix, Inc. (OTCBB: TNTI), Tidelands Oil (OTCBB: TIDE), Titan Construction (OTC: TTCS), Trezac Corp. (OTCBB: TRZAV), Universal Express, Inc. (OTCBB: USXP), Valesc Holdings, Inc. (OTCBB: VLSHV), Vega Atlantic (OTCBB: VGAC), Viragen (AMEX: VRA), Viragen International (OTCBB: VGNI), Vista Continental Corporation, (OTCBB: VICC), Viva International (OTCBB: VIVI), Vtex Energy (OTCBB: VXENE) and Wizzard Software (OTCBB: WIZD), WorldTradeShow.com (OTC: WTSW) and Y3K Secure Enterprise Software, Inc. (OTCBB: YTHK).
For up-to-the-minute news, features and links click on www.financialwire.net
For FinancialWire audio clips, click on partner ON24 at www.on24news.com
FinancialWire is an independent, proprietary news service of Investrend Information, a division of Investrend Communications, Inc. Additionally, Investrend provides a wide range of forums, independent research and webcasting platforms for shareholder empowerment. For more information or to receive the FirstAlert daily summary of news, commentary, research reports, webcasts, events and conference calls, click on www.investrend.com/contact.asp
URL: www.financialwire.net
(C) 2003 financialwire.net, Inc. All rights reserved.
-0-
Short Seller Skirmishes Break Out on Widening Battlefield
Oct 3, 2003 (financialwire.net via COMTEX) -- (FinancialWire) Jag Media Holdings (OTCBB: JGMHA), A.G. Edwards (NYSE: AGE), GloTech Industries (OTCBB: GTHI), and Universal Express (OTCBB: USXP) were all at the forefront of a series of skirmishes in the short seller wars Thursday.
United States District Judge Virginia Gilmore denied the efforts by A.G. Edwards and some 100 brokers to have the manipulative trading cases filed against them by Jag Media and CEO Gary Valinoti dismissed, but instructed the plaintiffs to return with an amended fact-filled pleading within 20 days.
Meanwhile, GloTech Industries, Inc. (OTCBB: GTHI) became the 119th public company touched by the growing national scandal involving illegal manipulative trading that has so far escaped substantive attention or regulation by NASD or the U.S. Securities and Exchange Commission.
GloTech said it has learned that some of the Company's shareholders are having difficulty obtaining certificates from certain brokerage firms.
"Based upon preliminary research and information obtained from the Depository Trust Company, the Company believes that certain brokerage firms may have been engaging in a practice known as 'naked short sales'. It is the Company's understanding that a 'naked short' is created when a brokerage firm sells shares that it has neither purchased nor borrowed with the intent of either a) later purchasing the shares at a lower price and only then delivering them to the buyer or b) never delivering the shares sold. An effect of sustained 'naked shorting' can be 'artificial' or 'manufactured' downward pressure on the stock being sold. "Further, the Company understands that this practice is considered 'manipulative' and illegal. The Company believes that up to three hundred thousand (300,000) shares, or approximately seventeen (17) times GloTech's average daily trading volume, may have been sold in this fashion."
GloTech said its legal counsel are actively "investigating this occurrence and reviewing appropriate legal action and other available remedies. GloTech intends to vigorously work to protect the integrity of the market for its stock and the interests of its shareholders."
GloTech said it has been advised that the only way to be absolutely certain that shares purchased through a brokerage account are validly issued, is to demand physical delivery of a stock certificate evidencing ownership of the total number of shares purchased. "Therefore, it said, "the Company strongly recommends that all shareholders contact their brokerage firms and request physical delivery of their stock certificates immediately. Failure of the brokerage firm to deliver a customer's stock certificates in a timely manner may be an indicator of 'naked short sales'. Shareholders are encouraged to file a complaint against such brokerage firms with the NASD. Complaints can be filed online at www.nasd.com .
GloTech said it has discovered a growing body of litigation and published articles which, combined with increasing public awareness of the problem, should ultimately lead to market reforms in this area.
Meanwhile, GloTech said it will reimburse any related transfer costs paid by GloTech shareholders during the next ninety (90) days.
Universal Express, Inc. (OTCBB: USXP) reminded the public that on September 23 it urged shareholders to contact their congresspersons in the U.S. House of Representatives and the U.S. Senate to request the Securities and Exchange Commission to put an immediate end to "naked short selling".
Universal Express describes "naked short selling" as the electronic churning downward of the shares of small developing OTCBB companies without actually trading the shares.
Richard A. Altomare, President & CEO of Universal Express noted, "When you never intend or fail to cover short sales, you are counterfeiting stock. Counterfeit stock added to a float drives prices down. This abuse of short selling by the broker dealers and the market makers who conspire with them devastates small emerging companies."
"In what appears to be the first admission by an SEC regulator that naked short selling is occurring, SEC market regulation division director Annette Nazareth disclosed in a recent Dow Jones interview that the SEC would consider changes to short-selling rules this fall: "It's expected that the commission will consider short selling reforms in the next few months." To combat such abuses, the SEC will look to increase borrowing requirements for some short sales and call for stronger enforcement including late charges or other financial penalties for short sellers who fail to cover short positions by the settlement date, noted Dow Jones.
Altomare continued, "Naked short selling is nothing more than economic terrorism. It hurts job creation by small emerging firms; small emerging firms are the engines for new jobs. It is a national scandal that has cost us, along with other small companies and their shareholders, hundreds of millions of dollars in dramatically reduced share prices. Once the stock price drops, the next step for most small public companies is to cut back and start laying off. That is where the economic terrorism unfolds. Up to now, the SEC has done little to stop this activity. The SEC has not prevented illegal short selling in the OTCBB market, where the newer smaller emerging firms find themselves. The SEC's complex regulations are focused on the more established companies, the more established capital markets. Maintaining a small public company under these conditions is costly and sometimes not worthwhile. The SEC should not condone this economic terrorism. It should move forward with meaningful changes. We encourage our shareholders to contact their Representatives in the House and Senate about this short selling abuse. Changes are needed. All of us in the smaller business community want to grow. We want and look forward to working with the SEC's new leadership to restore integrity to the OTCBB markets."
Universal Express said it had been asked by the Denver office of the SEC to "prove" short-selling exists, but the company provided no update on that dialogue, which its counsel earlier described as an attempt to squelch the company's right of free speech.
There are 119 public companies that have so far been touched by the growing national financial scandal.
Some thirteen on the list of 119, such as A.G. Edwards, Inc. (NYSE: AGE), Ameritrade Holding Corp. (NASDAQ: AMTD), Deutsche Bank AG (NYSE: DB), E*Trade Group, Inc. (NYSE: ET), FleetBoston (NYSE: FBF), Goldman, Sachs & Co. (NYSE: GS), Knight Securities, LP (NASDAQ: NITE), Ladenburg Thalmann & Co., Inc. (AMEX: LHS), M. H. Myerson & Co., Inc. (NASDAQ: MHMY), Olde / H&R Block (NYSE: HRB), Charles Schwab (NYSE: SCH), Toronto-Dominion's (NYSE: TD), TD Waterhouse Group and vFinance, Inc. (OTCBB: VFIN), have been accused by one or more public companies as allegedly participating in short selling activities or abuses, or of failing to settle trades.
Observers have said that trades to not settle because broker-dealers do not effect buy-ins, as required by law, and that there is an unspoken understanding that any brokerage that tries to force a buy-in will be retaliated against.
The remaining 106 companies have issued press releases or been named in the media as having been victimized, or as taking various actions, either alone or in concert with other companies, to oppose manipulative trading in the form of illegal naked short selling. The actions have ranged from lawsuits to withdrawals and threatened withdrawals from the electronic trading system managed by the Depository Trust & Clearing Corp., to withdrawals from toxic financings, to the issuance of dividends or name changes designed to squeeze manipulators, to joining associations or networks or to contacting regulatory authorities to provide documentation of abuses or otherwise complain.
On June 4, the SEC stated "the issues surrounding naked short selling are not germane to the manner in which DTC operates as a depository registered as a clearing agency. Decisions to engage in such transactions are made by parties other than DTC. DTC does not allow its participants to establish short positions resulting from their failure to deliver securities at settlement. While the Commission appreciates commenters' concerns about manipulative activity, those concerns must be addressed by other means."
Nevertheless, short positions do in fact exist due to failures of the electronic settlement system to balance their electronic books, and the SEC has provided shareholders and small companies with no inkling of what the Commission has in mind in "addressing" these concerns "by other means."
However, in mid-September the SEC admitted in a Dow Jones interview that "naked short selling" is a problem, and said its market regulatory division is taking aim at the practice. However, one public company reported that two days later a field office of the SEC asked the public company to "prove naked short selling exists," once more seemingly sending mixed signals to shareholders trapped in the manipulators' vise.
Recently the NASD revealed its plan to stop the practices that have ravaged these public companies and their shareholders - a wrist-slap to perpetrators such as Paragon Capital Markets, which was "censured" and fined $35,000 after the NASD said it had "executed short-sale orders in certain securities and failed to make an affirmative determination prior to executing such transactions." An even smaller fine was subsequently assessed against vFinance for similar allegations.
The complete list of those 106 companies include Advanced Viral Research Corp. (OTCBB: ADVR), AdZone Research, Inc. (OTCBB: ADZR), Amazon Natural Treasures (OTC: ANTD), America's Senior Financial Services (OTCBB: AMSE), American Ammunition, Inc. (OTCBB: AAMI), AngelCiti Entertainment (OTCBB: AGLC), ATSI Communications, Inc. (OTC: ATSC), Federal Agricultural Mortgage / Farmer Mac (NYSE: AGM) Allied Capital (NYSE: ALD), American Motorcycle (OTC: AMCYV), American International Industries (OTCBB: AMIN), Ameri-Dream (OTC: AMDR), Adirondack Pure Springs Mt. Water Co. (OTCBB: APSW), Bluebook International (OTCBB: BBIC), Blue Industries (OTCBB: BLIIV), Bentley Communications (OTCBB: BTLY), BIFS Technologies Corporation (OTCBB: BIFT), Biocurex (OTCBB: BOCX). Broadleaf Capital Partners, Inc. (OTCBB: BDLF), Chattem, Inc. (NASDAQ: CHTT), Critical Home Care (OTCBB: CCLH), Composite Holdings (OTC: COHIA), CyberDigital, Inc. (OTCBB: CYBD). Diamond International Group (OTCBB: DMND), Dobson Communications Corp. (NASDAQ: DCEL), Eagle Tech Communications (OTC: EATC), Edgetech Services (OTCBB: EDGH);
Also, Endovasc Ltd. (OTCBB: EVSC), Enviro-Energy Corporation (OTCBB: ENGY), Environmental Products & Technologies (OTC: EPTC), EPIXTAR Corp. (OTCBB: EPXR), eResearchTechnologies, Inc. (NASDAQ: ERES), Flight Safety Technologies (OTCBB: FLST), Freddie Mac (NYSE: FRE), FreeStar Technologies (OTCBB: FSRCE), Geotec Thermal Generators, Inc. (OTCBB: GETC), Genesis Intermedia (OTC: GENI), GeneMax Corp. (OTCBB: GMXX), Global Explorations Inc (OTC: GXXL), Global Path (OTCBB: GBPI), GloTech Industries, Inc. (OTCBB: GTHI), Green Dolphin Systems (OTCBB: GLDS), Group Management (OTCBB: GPMT), Hop-On (OTC: HPON), H-Quotient, Inc., (OTCBB: HQNT), Hyperdynamics Corp. (OTCBB: HYPD), International Biochem (OTCBB: IBCL), Intergold Corp. (OTCBB: IGCO), International Broadcasting Corporation (OTCBB: IBCS), InternetStudios, Inc. (OTCBB: ISTO), ITIS Holdings (OTCBB: ITHH), Investco Corp. (OTCBB: IVCO), Lair Holdings (OTC: LAIR), Lifeline BioTechnologies Inc. (OTC: LBTT), Life Energy & Technology (OTCBB: LETH), MBIA (NYSE: MBI);
Also, MegaMania Interactive (OTC: MNIA), MetaSource Group, Inc. (OTCBB: MTSR), Midastrade.com (OTC: MIDS), Make Your Move (OTCBB: MKMV), Medinah Minerals (OTC: MDMN), MSM Jewelry Corp. (OTC: MSMC), Nanopierce Technologies, Inc. (OTCBB: NPCT), Nutra Pharmaceutical (OTCBB: NPHC), Nutek (OTCBB: NUTK), Navigator Ventures (OTC: NVGV), Orbit E-Commerce, Inc. (OTCBB: OECI), Pitts & Spitts (OTC: PSPP), Sales OnLine Direct (OTCBB: PAID), Pacel Corp. (OTCBB: PACC), PayStar Corporation (OTC: PYST), Petrogen Corp. (OTCBB: PTGC), Pinnacle Business Management (OTC: PCBM), Premier Development & Investment, Inc. (OTCBB: PDVN), PrimeHoldings.com, Inc. (OTC: PRIM), Phlo Corporation (OTCBB: PHLC), Resourcing Solutions (OTC: RESG), Reed Holdings (OTC: RDHC), Rocky Mountain Energy Corp. (OTCBB: RMECE), RTIN Holdings (OTCBB: RTNHE), Saflink Corp. (NASDAQ: SFLK), Safe Travel Care (OTCBB: SFTVV), Sedona Corp. (OTCBB: SDNA);
Also, Sionix Corp. (OTCBB: SINX), Sonoran Energy (OTCBB: SNRN), Starmax Technologies (OTC: SMXIF), Storage Suites America (OTC: SSUA), Suncomm Technologies (OTC: STEH), Sports Resorts International (NASDAQ: SPRI), Technology Logistics (OTC: TLOS), Swiss Medica, Inc. (OTCBB: SWME), Ten Stix, Inc. (OTCBB: TNTI), Tidelands Oil (OTCBB: TIDE), Titan Construction (OTC: TTCS), Trezac Corp. (OTCBB: TRZAV), Universal Express, Inc. (OTCBB: USXP), Valesc Holdings, Inc. (OTCBB: VLSHV), Vega Atlantic (OTCBB: VGAC), Viragen (AMEX: VRA), Viragen International (OTCBB: VGNI), Vista Continental Corporation, (OTCBB: VICC), Viva International (OTCBB: VIVI), Vtex Energy (OTCBB: VXENE) and Wizzard Software (OTCBB: WIZD), WorldTradeShow.com (OTC: WTSW) and Y3K Secure Enterprise Software, Inc. (OTCBB: YTHK).
For up-to-the-minute news, features and links click on www.financialwire.net
For FinancialWire audio clips, click on partner ON24 at www.on24news.com
FinancialWire is an independent, proprietary news service of Investrend Information, a division of Investrend Communications, Inc. Additionally, Investrend provides a wide range of forums, independent research and webcasting platforms for shareholder empowerment. For more information or to receive the FirstAlert daily summary of news, commentary, research reports, webcasts, events and conference calls, click on www.investrend.com/contact.asp
URL: www.financialwire.net
(C) 2003 financialwire.net, Inc. All rights reserved.
-0-
o/t NASD Slaps Wrist of Alleged Illegal Naked Short-Seller
Sep 23, 2003 (financialwire.net via COMTEX) -- (FinancialWire) NASD, the regulatory arm of NASDAQ (OTCBB: NDAQ) has once more stepped up to punish an alleged illegal naked short-seller, many of whom make millions off their transactions, by fining vFinance Investments, Inc. (OTCBB: VFIN), of Boca Raton, a monumental $17,500.
The firm is accused by Elorian Landers, former head of Group Management (OTCBB: GPMT), of having "trashed shareholder value" in his company.
vFinance neither admitted nor denied the allegations, but consented to the sanctions and to the "entry of findings that it executed short-sale transactions in a NNM security and failed to report each of these
Transactions to the Automated Confirmation Transaction Service (ACTSM) with a short-sale modifier.
"The findings stated that the firm executed short-sale orders in NNMsecurities and failed to make an affirmative determination prior to executing such transactions," said the NASD. . NASD also found that the firm executed short-sale transactions in NNM securities at or below the current inside bid when the current inside bid was below the preceding inside bid in the security. In addition, NASD determined that the firm's supervisory system did not provide for supervision reasonably designed to achieve compliance with applicable securities laws and regulations concerning short sales."
In other words, a cost of business tax.
"vFinance is one of the scoundrels along with Westminster, Frankle and several others that trashed shareholder value in GPMT in collusion with Thomas Badian and Ari Rabinowitz," said Landers.
"Remember NASD is under mandate by Congress to regulate itself. vFinance may have been fined but I can almost guarantee they never covered the short positions. Essentially they printed counterfeit shares, stole the money and NASDAQ received their portion in pro rata membership dues," said Landers, adding,
"What a great scam."
There are 117 public companies that have so far been touched by the growing national financial scandal.
Some thirteen on the list of 117, such as A.G. Edwards, Inc. (NYSE: AGE), Ameritrade Holding Corp. (NASDAQ: AMTD), Deutsche Bank AG (NYSE: DB), E*Trade Group, Inc. (NYSE: ET), FleetBoston (NYSE: FBF), Goldman, Sachs & Co. (NYSE: GS), Knight Securities, LP (NASDAQ: NITE), Ladenburg Thalmann & Co., Inc. (AMEX: LHS), M. H. Myerson & Co., Inc. (NASDAQ: MHMY), Olde / H&R Block (NYSE: HRB), Charles Schwab (NYSE: SCH), Toronto-Dominion's (NYSE: TD), TD Waterhouse Group and vFinance, Inc. (OTCBB: VFIN), have been accused by one or more public companies as allegedly participating in short selling activities or abuses, or of failing to settle trades.
Observers have said that trades to not settle because broker-dealers do not effect buy-ins, as required by law, and that there is an unspoken understanding that any brokerage that tries to force a buy-in will be retaliated against.
The remaining 104 companies have issued press releases or been named in press releases as taking various actions, either alone or in concert with other companies, to oppose manipulative trading in the form of illegal naked short selling. The actions have ranged from lawsuits to withdrawals and threatened withdrawals from the electronic trading system managed by the Depository Trust & Clearing Corp., to withdrawals from toxic financings, to the issuance of dividends or name changes designed to squeeze manipulators, to joining associations or networks or to contacting regulatory authorities to provide documentation of abuses or otherwise complain.
On June 4, the SEC stated "the issues surrounding naked short selling are not germane to the manner in which DTC operates as a depository registered as a clearing agency. Decisions to engage in such transactions are made by parties other than DTC. DTC does not allow its participants to establish short positions resulting from their failure to deliver securities at settlement. While the Commission appreciates commenters' concerns about manipulative activity, those concerns must be addressed by other means."
Nevertheless, short positions do in fact exist due to failures of the electronic settlement system to balance their electronic books, and the SEC has provided shareholders and small companies with no inkling of what the Commission has in mind in "addressing" these concerns "by other means."
Recently the NASD revealed its plan to stop the practices that have ravaged these public companies and their shareholders - a wrist-slap to perpetrators such as Paragon Capital Markets, which was "censured" and fined $35,000 after the NASD said it had "executed short-sale orders in certain securities and failed to make an affirmative determination prior to executing such transactions."
The complete list of those 104 companies include Advanced Viral Research Corp. (OTCBB: ADVR), AdZone Research, Inc. (OTCBB: ADZR),
NASD Slaps Wrist of Alleged Illegal Naked Short-Seller
Sep 23, 2003 (financialwire.net via COMTEX) -- (FinancialWire) NASD, the regulatory arm of NASDAQ (OTCBB: NDAQ) has once more stepped up to punish an alleged illegal naked short-seller, many of whom make millions off their transactions, by fining vFinance Investments, Inc. (OTCBB: VFIN), of Boca Raton, a monumental $17,500.
The firm is accused by Elorian Landers, former head of Group Management (OTCBB: GPMT), of having "trashed shareholder value" in his company.
vFinance neither admitted nor denied the allegations, but consented to the sanctions and to the "entry of findings that it executed short-sale transactions in a NNM security and failed to report each of these
Transactions to the Automated Confirmation Transaction Service (ACTSM) with a short-sale modifier.
"The findings stated that the firm executed short-sale orders in NNMsecurities and failed to make an affirmative determination prior to executing such transactions," said the NASD. . NASD also found that the firm executed short-sale transactions in NNM securities at or below the current inside bid when the current inside bid was below the preceding inside bid in the security. In addition, NASD determined that the firm's supervisory system did not provide for supervision reasonably designed to achieve compliance with applicable securities laws and regulations concerning short sales."
In other words, a cost of business tax.
"vFinance is one of the scoundrels along with Westminster, Frankle and several others that trashed shareholder value in GPMT in collusion with Thomas Badian and Ari Rabinowitz," said Landers.
"Remember NASD is under mandate by Congress to regulate itself. vFinance may have been fined but I can almost guarantee they never covered the short positions. Essentially they printed counterfeit shares, stole the money and NASDAQ received their portion in pro rata membership dues," said Landers, adding,
"What a great scam."
There are 117 public companies that have so far been touched by the growing national financial scandal.
Some thirteen on the list of 117, such as A.G. Edwards, Inc. (NYSE: AGE), Ameritrade Holding Corp. (NASDAQ: AMTD), Deutsche Bank AG (NYSE: DB), E*Trade Group, Inc. (NYSE: ET), FleetBoston (NYSE: FBF), Goldman, Sachs & Co. (NYSE: GS), Knight Securities, LP (NASDAQ: NITE), Ladenburg Thalmann & Co., Inc. (AMEX: LHS), M. H. Myerson & Co., Inc. (NASDAQ: MHMY), Olde / H&R Block (NYSE: HRB), Charles Schwab (NYSE: SCH), Toronto-Dominion's (NYSE: TD), TD Waterhouse Group and vFinance, Inc. (OTCBB: VFIN), have been accused by one or more public companies as allegedly participating in short selling activities or abuses, or of failing to settle trades.
Observers have said that trades to not settle because broker-dealers do not effect buy-ins, as required by law, and that there is an unspoken understanding that any brokerage that tries to force a buy-in will be retaliated against.
The remaining 104 companies have issued press releases or been named in press releases as taking various actions, either alone or in concert with other companies, to oppose manipulative trading in the form of illegal naked short selling. The actions have ranged from lawsuits to withdrawals and threatened withdrawals from the electronic trading system managed by the Depository Trust & Clearing Corp., to withdrawals from toxic financings, to the issuance of dividends or name changes designed to squeeze manipulators, to joining associations or networks or to contacting regulatory authorities to provide documentation of abuses or otherwise complain.
On June 4, the SEC stated "the issues surrounding naked short selling are not germane to the manner in which DTC operates as a depository registered as a clearing agency. Decisions to engage in such transactions are made by parties other than DTC. DTC does not allow its participants to establish short positions resulting from their failure to deliver securities at settlement. While the Commission appreciates commenters' concerns about manipulative activity, those concerns must be addressed by other means."
Nevertheless, short positions do in fact exist due to failures of the electronic settlement system to balance their electronic books, and the SEC has provided shareholders and small companies with no inkling of what the Commission has in mind in "addressing" these concerns "by other means."
Recently the NASD revealed its plan to stop the practices that have ravaged these public companies and their shareholders - a wrist-slap to perpetrators such as Paragon Capital Markets, which was "censured" and fined $35,000 after the NASD said it had "executed short-sale orders in certain securities and failed to make an affirmative determination prior to executing such transactions."
The complete list of those 104 companies include Advanced Viral Research Corp. (OTCBB: ADVR), AdZone Research, Inc. (OTCBB: ADZR),
edig mention at the end of the article.
Marcus A. New, CEO of Stockgroup Information Systems Inc., Talks WithTraders Nation About Current Company Events
PHOENIX, Sep 17, 2003 (BUSINESS WIRE) -- Traders Nation is pleased to announce that it has completed an interview with Marcus A. New, CEO of Stockgroup Information Systems Inc. (OTCBB: SWEB), and the interview is available at www.tradersnation.com/sweb.shtml.
New updates listeners with current events of the company, which include cash flow and earnings perspectives, providing stock market data, company progress with debt, significant balance sheet moves and discusses trends in the financial content industry.
About TradersNation.com
TradersNation.com is the leader in the smallcap community for providing syndicators and Web site visitors current market trend commentary and delivering that content via an audio program produced live daily, named Traders Nation. Outside markets are also covered with breaking news, interviews of news makers and financial video content, making TradersNation.com the first broadcasting company to encompass the full range of media information products for smallcap investors. Traders Nation is currently syndicated online with 89 sites carrying the show. Traders Nation is also heard by tens of thousands of end users via QuoteStream's online financial software and on a host of Lycos-owned sites including RagingBull.com, and on StockHouse.com and Smallcapcenter.com with 750,000 unique visitors per month.
The current rebroadcast (9/17/03 -- available after 10:30 a.m. MST) of the show features two segments. The first segment covers the top smallcap stories of the day. The second segment -- Lance Berger, a professional smallcap trader -- gives our listeners the potential hot stock plays for the day. Stocks covered throughout the show include: US Wireless Data Inc. (OTCBB: USWE), Cytogenix Inc. (OTCBB: CYGX), Y3K Secure Enterprises Software Inc. (OTCBB: YTHK), Alternate Energy Corp. (OTCBB: ARGY), and eDigital Corp. (OTCBB: EDIG). Listen: www.tradersnation.com/radio.shtml#anchor2.
Read disclaimer(s) for further details: www.tradersnation.com/sweb.shtml
SOURCE: TradersNation.com
interesting price movement today. funny how the shareprice dropped on little volume before the news came out. imo
was it ife or vtt and ttv? gee in all this excitement i just can't remember...go on edig, make my day.
within a nickel of our 52 week high.oem.
last post - slightly o/t, but interesting imo.
Company Says It Found Naked Shorters
Jul 3, 2003 (financialwire.net via COMTEX) -- (FinancialWire) America's Senior Financial Services (OTCBB: AMSE) says it is trying to identify those it believes is responsible for illegal naked short selling of its shares on the OTCBB, which is "administered" but not "regulated" by NASDAQ (OTCBB: NADQ).
Recently the CEO Council (www.ceocouncil.net) has taken an interest in promoting serious reforms on the OTCBB after its recent stunning victory in preserving the OTCBB following a year of intensive lobbying with the Securities and Exchange Commission.
America's Senior Financial Services said it is "considering moving to 'certificate only' trading to sidestep the abuses that exist via short selling of securities" it says exists in the electronic trading system of the Depository Trust Corp. However, recently the SEC ruled that the DTC can prevent companies from protecting themselves against manipulative trading by exiting the DTC, saying companies must find "other" unspecified and confusing "means."
Nelson Locke, America's Senior Financial Services CEO, stated: "Recently we confirmed specific short selling activity. The party involved was significantly short. Their continued shorting placed unnecessary downward pressure on the price of our shares. We identified their Broker and discussed the situation. Because our shares are DTC eligible, the Broker allowed the short selling to continue even after being advised that the seller could not cover his short position. We believe we could reduce this type of harmful conduct by requiring that shareholders have physical custody of actual certificates before selling. For the vast majority of AMSE shareholders, this would not be an issue. For those who have engaged in this type of conduct in the past, this would make it much more difficult for them to short our stock."
The SEC ruled that shares in the DTC electronic system may be removed to physical shares by the holders. Therefore, Locke announced a "Short Busters Club," and urged shareholders to request physical certificates from the Florida Atlantic Stock Transfer at 954/726-4954.
Some 96 public companies have been "taking actions to ensure the integrity of the market in their publicly traded securities and to combat suspected naked short selling activity in their shares." There are 109 public companies that have so far been touched by the growing national financial scandal.
Some thirteen on the list of 109, such as A.G. Edwards, Inc. (NYSE: AGE), Ameritrade Holding Corp. (NASDAQ: AMTD), Deutsche Bank AG (NYSE: DB), E*Trade Group, Inc. (NYSE: ET), FleetBoston (NYSE: FBF), Goldman, Sachs & Co. (NYSE: GS), Knight Securities, LP (NASDAQ: NITE), Ladenburg Thalmann & Co., Inc. (AMEX: LHS), M. H. Myerson & Co., Inc. (NASDAQ: MHMY), Olde / H&R Block (NYSE: HRB), Charles Schwab (NYSE: SCH), Toronto-Dominion's (NYSE: TD), TD Waterhouse Group and vFinance, Inc. (OTCBB: VFIN), have been accused by one or more public companies as allegedly participating in short selling activities or abuses, or of failing to settle trades.
The remaining 96 companies have issued press releases or been named in press releases as taking various actions, either alone or in concert with other companies, to oppose manipulative trading in the form of illegal naked short selling. The actions have ranged from lawsuits to withdrawals and threatened withdrawals from the electronic trading system managed by the Depository Trust & Clearing Corp., to withdrawals from toxic financings, to the issuance of dividends or name changes designed to squeeze manipulators, to joining associations or networks or to contacting regulatory authorities to provide documentation of abuses or otherwise complain.
On June 4, the SEC stated "the issues surrounding naked short selling are not germane to the manner in which DTC operates as a depository registered as a clearing agency. Decisions to engage in such transactions are made by parties other than DTC. DTC does not allow its participants to establish short positions resulting from their failure to deliver securities at settlement. While the Commission appreciates commenters' concerns about manipulative activity, those concerns must be addressed by other means.
Nevertheless, short positions do in fact exist due to failures of the electronic settlement system to balance their electronic books, and the SEC has provided shareholders and small companies with no inkling of what the Commission has in mind in "addressing" these concerns "by other means."
The complete list of those 95 companies include Advanced Viral Research Corp. (OTCBB: ADVR), AdZone Research, Inc. (OTCBB: ADZR), Amazon Natural Treasures (OTC: ANTD), America's Senior Financial Services (OTCBB: AMSE), American Ammunition, Inc. (OTCBB: AAMI), AngelCiti Entertainment (OTCBB: AGLC), ATSI Communications, Inc. (OTC: ATSC), Federal Agricultural Mortgage Corp. "Farmer Mac" (NYSE: FRE), Allied Capital (NYSE: ALD), American Motorcycle (OTC: AMCYV), American International Industries (OTCBB: AMIN), Ameri-Dream (OTC: AMDR), Adirondack Pure Springs Mt. Water Co. (OTCBB: APSW), Bluebook International (OTCBB: BBIC), Blue Industries (OTCBB: BLIIV), Bentley Communications (OTCBB: BTLY), BIFS Technologies Corporation (OTCBB: BIFT), Biocurex (OTCBB: BOCX). Broadleaf Capital Partners, Inc. (OTCBB: BDLF), Chattem, Inc. (NASDAQ: CHTT), Critical Home Care (OTCBB: CCLH), Composite Holdings (OTC: COHIA), Diamond International Group (OTCBB: DMND), Dobson Communications Corp. (NASDAQ: DCEL), Eagle Tech Communications (OTC: EATC), Edgetech Services (OTCBB: EDGH);
Also, Endovasc Ltd. (OTCBB: EVSC), Enviro-Energy Corporation (OTCBB: ENGY), Environmental Products & Technologies (OTC: EPTC), eResearchTechnologies, Inc. (NASDAQ: ERES), Flight Safety Technologies (OTCBB: FLST), Freddie Mac (NYSE: FRE), FreeStar Technologies (OTCBB: FSRCE), Geotec Thermal Generators, Inc. (OTCBB: GETC), Genesis Intermedia (OTC: GENI), GeneMax Corp. (OTCBB: GMXX), Global Path (OTCBB: GBPI), Group Management (OTCBB: GPMT), Hop-On (OTC: HPON), H-Quotient, Inc., (OTCBB: HQNT), Hyperdynamics Corp. (OTCBB: HYPD), International Biochem (OTCBB: IBCL), Intergold Corp. (OTCBB: IGCO), International Broadcasting Corporation (OTCBB: IBCS), InternetStudios, Inc. (OTCBB: ISTO), ITIS Holdings (OTCBB: ITHH), Investco Corp. (OTCBB: IVCO), Lair Holdings (OTC: LAIR), Lifeline BioTechnologies Inc. (OTC: LBTT), Life Energy & Technology (OTCBB: LETH), MBIA (NYSE: MBI);
Also, MegaMania Interactive (OTC: MNIA), MetaSource Group, Inc. (OTCBB: MTSR), Midastrade.com (OTC: MIDS), Make Your Move (OTCBB: MKMV), Medinah Minerals (OTC: MDMN), MSM Jewelry Corp. (OTC: MSMC), Nanopierce Technologies, Inc. (OTCBB: NPCT), Nutra Pharmaceutical (OTCBB: NPHC), Nutek (OTCBB: NUTK), Navigator Ventures (OTC: NVGV), Pitts & Spitts (OTC: PSPP), Sales OnLine Direct (OTCBB: PAID), Pacel Corp. (OTCBB: PACC), PayStar Corporation (OTC: PYST), Petrogen Corp. (OTCBB: PTGC), Pinnacle Business Management (OTC: PCBM), Premier Development & Investment, Inc. (OTCBB: PDVN), PrimeHoldings.com, Inc. (OTC: PRIM), Phlo Corporation (OTCBB: PHLC), Resourcing Solutions (OTC: RESG), Reed Holdings (OTC: RDHC), Rocky Mountain Energy Corp. (OTCBB: RMECE), RTIN Holdings (OTCBB: RTNHE), Saflink Corp. (NASDAQ: SFLK), Safe Travel Care (OTCBB: SFTVV), Sedona Corp. (OTCBB: SDNA);
Also, Sionix Corp. (OTCBB: SINX), Starmax Technologies (OTC: SMXIF), Storage Suites America (OTC: SSUA), Suncomm Technologies (OTC: STEH), Sports Resorts International (NASDAQ: SPRI), Technology Logistics (OTC: TLOS), Swiss Medica, Inc. (OTCBB: SWME), Ten Stix, Inc. (OTCBB: TNTI), Tidelands Oil (OTCBB: TIDE), Titan Construction (OTC: TTCS), Trezac Corp. (OTCBB: TREZE), Universal Express, Inc. (OTCBB: USXP), Valesc Holdings, Inc. (OTCBB: VLSHV), Vega Atlantic (OTCBB: VGAC), Vista Continental Corporation, (OTCBB: VICC), Viva International (OTCBB: VIVI), Vtex Energy (OTCBB: VXENE) and Wizzard Software (OTCBB: WIZD).and WorldTradeShow.com (OTC: WTSW).
For up-to-the-minute news, features and links click on www.financialwire.net
For FinancialWire audio clips, click on partner ON24 at www.on24news.com
FinancialWire is an independent, proprietary news service of Investrend Information, a division of Investrend Communications, Inc. Additionally, Investrend provides a wide range of forums, independent research and webcasting platforms for shareholder empowerment. For more information or to receive the FirstAlert daily summary of news, commentary, research reports, webcasts, events and conference calls, click on www.investrend.com/contact.asp
URL: www.financialwire.net
(C) 2003 financialwire.net, Inc. All rights reserved.
"should" replaces "soon" as the edig buzzword.
maybe we will have a good old fashioned "edig thursday" soon.
looks like we are back to pre - shareholder meeting prices.
some of the technicals(ie. stochastics) are similiar to that same period('99). they are finally looking a bit betterafter hitting multi-year lows - but who believes in technical analysis concerning penny stocks? edig does have over a ten year trading history.
interesting that at .13, we are at our 1998 resistence(edig traded at .06 to .13 that year as i recall). maybe it is time for woody to buy another 50,000 shares.lol
dangit - unfortunately not as many as are selling. maybe tomorrow we will see a new multi-year low. too bad people are giving up - i hear things are heating up overseas. (that is, with edig)
"it's all about forming good relationships" - from a past shareholder meeting.
waiting for godot...
the more things change, the more they stay the same(in the good sense). this board is reminiscent of rb of times past, early 2000. imho.
hope everyone has a safe and prosperous new year. glad to see edig ended the year on a high note. $20 to $2 and then $2 to .20. remember when we were up 40,000% in little over a year, .06 to $24. oh well. later dudes.
cliff(cdr) - the encinitas store is the one. hope you are also doing well. maybe a round of golf in the new year for us? aloha.
stopped by the local circuit city today: the mp3-player section was almost empty, as in sold out. the clerk said that mp3 players were a very hot item this christmas. i guess edig sold a few also from their personal online store. it would have been nice if they had some/more/any inventory on the shelves of good guys or comp usa. it takes money to make money, and with little cash on hand edig seems to be able to generate limited income...but soon.
mele kalikimaka - are you ready to ride those "waves" that are coming "soon".
ditto...mahalo
we closed yesterday,and today, at 25 cents. i believe that yesterday our market cap was 34.5 million. today we had a market cap of 35.2 million. it would seem that with the shareprice being the same, we must have added some shares. you might say "we're growing".
is "fairly quickly" the same as "soon"? just curious.
dblslots - don't forget that one of the main benefits of the micro os is the speed with which products can be brought to market. remember micro os was first patented by edig over five years ago.
it was sure nice of mr. cucomelli to attend the s/h meeting. wonder why he chose to sit in the back? now i know why many of the bod's have chosen not to invest in edig. maybe they will follow woody's lead and wait for it to hit 6 cents again.
fwiw = about a hundred people showed up for the s/h meeting today.
is there any reason why edigital is holding their shareholder meeting on november 5th, election day? maybe being patriotic is the way to go, possibly a red, white, and blue odyssey.