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Well, I think we are D....d. I have no words that I can explain this. There must be a really good PR out on monday or we gonna drive south with pps. I'm still holding but I get a more negative feeling about NNOS. I'm in this stock from october 2003 averaged down to 0.12. Till the day I bought this stock I was positive but now I really don't know anymore.
34SIMMONS WHAT CAN WE EXPECT FROM NNOS NOW PLEASE GIVE US SOME BEEF HERE.
E-mail me please:molen110@yahoo.com
2nd UPDATE: Stk Exchanges To Publish Threshold Lists Fri.
DOW JONES NEWSWIRES
January 7, 2005 5:17 p.m.
(Adds comment from Nasdaq spokeswoman on Pink Sheets companies subject to Reg SHO)
By Carol S. Remond
A Dow Jones Newswires Column
NEW YORK -- U.S. stock exchanges will begin publishing so-called threshold lists Friday evening as part of a broad effort by securities regulators to curb failures to deliver stock on settlement date.
Under a new Securities and Exchange Commission regulation known as Reg SHO, all exchanges have to make public daily lists of securities with large amounts of failure to deliver. Reg SHO went into effect on Monday.
These lists will be closely watched by market participants because once a security gets on one, it will become harder and more expensive to sell short the stock and that will likely translate in a higher trading price.
Friday evening's lists will be the first clear indication of the potential impact of Reg SHO on the market, especially when it comes to the stock of thinly traded and more heavily shorted small-cap companies.
Representatives for the New York Stock Exchange, the American Stock Exchange, the Nasdaq Stock Exchange, Archipelago and the Chicago Stock Exchange say that the exchanges are ready and will publish their respective lists on their Web sites sometime between market close and midnight.
The web addresses for the lists are as follows:
-NYSE: http://www.nyse.com/threshold
-AMEX: http://amex.com/amextrader
-ARCA: http://www.tradearca.com/traders/regsho_th.asp
-Chicago: http://www.chx.com
A Nasdaq spokeswoman wasn't immediately able to provide a working web address.
Nasdaq's threshold list is the one that is the most anticipated by traders and investors since it is likely to include the largest number of securities. Nasdaq's list will include securities trading on its national market, small-cap market and on the Over-The-Counter market. The Nasdaq list will also include securities trading on the Pink Sheets that under SEC rules are "reporting companies." Non-reporting Pink Sheets companies are not covered by Reg SHO. But NASD is working on a SHO-like rule that would cover non-reporting companies trading on the Pink Sheets.
According to a Nasdaq spokeswoman there are about 1,300 reporting Pink Sheets companies. But only 235 of those, for which the exchange has current information on shares outstanding, are currently subject to Reg SHO threshold requirements. There are about 3,500 securities trading on Nasdaq's national and small-cap markets.
John Bosey, a lawyer for the Boston Stock Exchange, said the exchange will comply with the SEC regulation but he wasn't sure whether the exchange would publish a threshold list by midnight.
A spokesman for the Chicago Exchange wasn't immediately able to say whether the exchange would publish a list or where it would be located. A spokesperson for the National Stock Exchange, formerly the Cincinnati Stock Exchange, said the exchange is not required to publish a threshold list because it has no original listing.
In a short sale, a security not owned by the seller is sold in anticipation of a decrease in the stock price. Under existing NASD and NYSE rules, firms generally have to locate securities before accepting a short sale, a process known as affirmative determination. Brokerage firms also have to borrow a security or be able to provide it for delivery on demand on settlement date, three days after the transaction. If a firm cannot deliver the securities by settlement, a failed trade is entered into the Continuous Net Settlement (CNS), a system administered by the National Securities Clearing Corp., or NSCC.
Reg SHO, among other things, aims to have these failed trades settled, mostly by clearly identifying securities with a high threshold of failed deliveries. Under Reg SHO, threshold securities are defined by two criteria: There are at least 10,000 shares in aggregate failed deliveries for the security for five consecutive settlement days and these fails constitute 0.5% or more of outstanding shares. Under Reg SHO, brokers who fail to deliver a security for 13 consecutive settlement days will have to execute mandatory buy-in to clean the fails. If the broker cannot buy-in the security, it and its clients will be restricted from further selling short the security without a "pre-borrow agreement."
(Carol S. Remond is an award-winning columnist and one of four who write the "In The Money" feature. Most recently, she shared a 2003 Best of Business Award from the Society of Business Editors and Writers for her role in Dow Jones' team coverage of the Canary Capital mutual fund trading scandal.)
-By Carol S. Remond; Dow Jones Newswires; 201-938-2074; carol.remond@dowjones.com
Waiting and hoping that we are on this list. If so we can expect a rally on monday. If not it's gonna be really hard to get this pps moving upwards. JMHO.
Hai Clouser.
Well this is the part I like the most.
The SEC recently released Short selling Regulation SHO. With this regulation comes a ‘threshold list” of securities with abusive settlement failures due to an oversold market for extended periods of time. The present list of companies that fall under this category is greater than 1000 and represent over 12% of all securities. Soon we will know exactly who is on this list although the regulators have already provided this confidential information to WALL STREET.
Well rumors has it that NNOS is on this list. All we can do now is sit and wait.
Have a good day
You are right about that one. If NNOS is shorted by the MM. Well we shall see in a few days.
Let's check also this link.
http://www.nasdaqtrader.com/aspx/regsho.aspx
And read this one.
Elgindy Trial Illustrates Incompetence at the Federal Levels. January 4, 2005
David Patch
The testimony of former Federal Bureau of Investigations Agent Jeffrey Royer at the Anthony Elgindy stock manipulation trial in NY raises serious doubts about the win at any cost approach to Federal Agency efforts.
Under testimony Royer, on trial for securities fraud himself, claimed that he was operating under a typical agent-informant relationship when he proceeded to hand accused stock manipulator Anthony Elgindy confidential information on SEC and FBI Investigations into potential “Scam companies”. Elgindy would then take this confidential information and launch a merciless barrage of short sellers and damaging reports on these firms attempting to bring down their operations. In the wake was left untold numbers of innocent investors. Elgindy and his clan made money.
According to a Dow Jones article by Carol Remond, Royer told jurors that his desire to quash securities fraud was fueled by his own losses in a company called Webtel. Royer said he invested about $82,000 of his own and his friends' and family's money, which was lost when the company blew up.
Apparently the fact that Royer lost money in a scam stock left him compelled to include others in his suffering as he fed Elgindy this inside information to be used for stock manipulation.
The problem with this fiasco that has found its way into the US District Court in NY is that Royer and Elgindy did not operate alone in this. It was an entire network of co-conspirators that allowed the stock manipulation to transpire and those co-conspirators include Wall Street and Wall Streets illustrious regulators.
Anthony Elgindy, and former FBI Agents Jeffrey Royer and Derrick Cleveland are accused of, among other things, stock manipulation as well as insider trading. To commit a stock manipulation strategy in short selling, the short sales must go beyond the natural short sale processes; borrow a security for settlement delivery. Had Elgindy operated in that legal manner there would be no trial. Instead, in this case the sales became naked shorts as the magnitude of short sales could not meet the guidelines for trade settlements. The short sales were overwhelming and went beyond shares available to borrow. To manipulate a stock you must have access to sell any required amount necessary to do the job and Elgindy and his team were given that access.
Anthony Elgindy ran his web site that, through paid subscriptions, allowed many savvy short selling enthusiasts to a smorgasbord of juicy details about events to come. The subscribers included a reported 400 or more Hedge Funds along with other short selling professionals.
As FBI Agent Royer, and reportedly other SEC and NASD officials provided Elgindy with investigations underway, Elgindy would use his internet site to pass on such information initiating attacks on these companies. These were fraud companies and the regulators could not be bothered with their own policing.
The attacks orchestrated came by way of massive short selling that resulted in overselling of these securities and resultant stock price declines. Under the pressure of these short sales Wall Street firms and the Depository Trust and Clearing Corporation (DTCC) could not maintain trade settlements on the volumes being sold in these securities resulting in massive settlement failures.
Wall Street, by continuing to accept the trading from these Hedge Funds and short selling enthusiasts assisted in the stock manipulation and did so for the very revenues that came from the trade business.
So then, where were the Regulators to step in and take control over the matter?
Like Mr. Royer, the SEC and NASD were so narrowed in on shutting down these companies they too were willing to allow innocent investors to fall victim as Mr. Royer once had. Under Testimony Royer, referring to his providing confidential information to Elgindy claimed "It needed to be done. There was no limit to how much (Elgindy and other members of his investing Web site) could help," Royer said. Royer followed up by stating “that it is standard procedure for FBI agents working with undercover informants.” But what about the Investors?
To put things in perspective today, during this time of such an explosive trial, let’s see how things have changed.
The SEC recently released Short selling Regulation SHO. With this regulation comes a ‘threshold list” of securities with abusive settlement failures due to an oversold market for extended periods of time. The present list of companies that fall under this category is greater than 1000 and represent over 12% of all securities. Soon we will know exactly who is on this list although the regulators have already provided this confidential information to WALL STREET.
Before the regulators initiate fair market practices, let’s look at a couple recent high fliers that question our lessons learned.
Allied Capital Corporation (NYSE: ALD), has been under fire by short sellers over the manner in which they have priced securities in public offerings. These short sellers have complained to the SEC over their practices and the informal investigation yielded little. The short sellers then went on the road to the US attorney who has now opened up their own investigation into the actions of ALD. The recent news of this investigation yielded a precipitous drop in ALD’s stock price. As for ALD, they have been listed on the preliminary “threshold security” published by the NYSE for their problem stocks. The stock is oversold in short sales and the recent US Attorney action fed right into their hands.
Horizon Offshore Inc. This is a more interesting tale. Horizon is a NASDAQ listed security with slightly more than 27 Million shares outstanding. Prior to last Thursday December 30, 2004 the average daily trading volume in Horizon was maybe 1 million shares. Starting last Thursday the stock traded 33 Million, 65 Million, and 50 Million shares consecutively over the past 3 trading days. Nearly 6-times the total number of shares issued by the company had been traded. Today, January 3, 2005, the stock had a pre-market volume of over 2 million shares and opened up at $2.00/share, up 21%. After trading another 48 Million shares throughout the day, the stock closed the day at $2.01. Most of the trading took place between a window of $1.97 and $2.04. So how does stock trade 2-times outstanding and not move? Do we really think these trades will all settle? Count on Horizon being listed as a threshold security on January 10, 2005.
Finally, we will come to Biopure (NASDAQ: BPUR). This Cambridge Ma. based company has struggled recently to survive. The NASDAQ is threatening to de-list the security due to their inability to meet minimum pricing requirements of $1.00/share. Biopure has slipped in their FDA approval timeline and thus their financials are behind as well. Recently they entered into a financing agreement with Institutions and Private Investors that required significant stock dilution to raise Capital based on the low share values. Biopure is also reportedly on the “threshold list” circulating amongst Wall Street. The settlement problems they are encountering have resulted in possible de-listing and with the recent financing arrangement, excessive dilution to their stock and their investors. But the NASDAQ, who can’t enforce settlements, still considers de-listing. Only in America!
The lessons learned from spending millions of Federal dollars investigating and bringing to trial Anthony Elgindy has yielded little. In the end they will plea out Mr. Elgindy, in my opinion, for some bigger fish that will never come to fruition.
As for the SEC, they already sanctioned continued fraud when they allowed Wall Street to ignore the Securities Laws pertaining to trade settlements and grandfathered all past mistakes away when they released their new short selling regulations. They once again handed the “Confidential” information to the bad guys and said manipulate away!
In it all, it is Former FBI Agent Jeffrey Royers own words that is the most disheartening. His desire to quash securities fraud was fueled by his own losses. His method to quash the securities fraud – commit the act himself and make more suffer. Now there is a class act.
Starting January 10, 2005 look up those ‘threshold securities” and see if you too have been manipulated by a rogue system
For NYSE Securities log on to www.nyse.com/threshold and,
For NASDAQ, AMEX, and OTCBB Securities log on to http://www.nasdaqtrader.com/aspx/regsho.aspx
Happy Hunting.
There is something else on this. If there is illegal naked shorting from the MM. Then this one is not playing a roll in this matter. Why... because the stock NNOS is supposedly naked short back in de month of 2004 till the summer of 2004 (I quess). How can the "new rule" have any effect. There is simply no reason for the MM to cover. Or am I wrong? Maybe someone on this board can explain this. I really don't no.
Brokerdown check this link out also.
http://www.nasdaqtrader.com/aspx/regsho.aspx
Wall Street’s Conflict of Interest Continues – January 2, 2005
David Patch
Illegal short selling. The shorting of a security whereby, at settlement date, the executing broker-dealer fails to borrow a share for delivery at settlement. The result, a persistent and abusive fail in the system. While this is a violation of several Securities Laws, to date nobody has actively enforced such laws. It has become a financial conflict of interest.
Regulators like the Securities and Exchange Commission (SEC) and the National Association of Securities Dealers (NASD) identifies the illegal shorting as complicated. Of course it is complicated, illegal shorting creates trade volumes and trade volumes create revenues. Illegal shorting also creates sell side pressure and sell side imbalance, pressure that steals from long shareholder investments.
The complication comes by way of ethical conflict vs. greed.
The Depository Trust and Clearing Corporation (DTCC) is a monopolistic Wall Street agency that has responsibility for the clearance and settlement of all trades. The Agency, operating as a self Regulatory organization (SRO), has a boardroom full of Wall Street executives. This agency is responsible for maintaining records of trade settlements, becomes a centralized stock loan department, and is required to penalize those who abuse the settlement system. The latter is rarely executed.
When a trade takes place, the SEC receives a fee from both the buyer and seller that is used to pay a portion of the SEC’s costs. Likewise, the DTCC will receive a fee for every trade that passes through their agency regardless of whether the trade settles or not. To both, trade volumes mean money. For the DTCC, if they get too much money, they will rebate Wall Street but Wall Street will not rebate the clients.
As the latest David vs. Goliath was developing, Wall Street vs. Small issuers and investors over the “naked shorting”, the DTC stated publicly:
"DTC rules do not allow its participants to be short in deliveries to other participant firms. While a brokerage firm can lend shares to an investor, the brokerage firm cannot be short in delivering shares to another brokerage firm through DTC. If necessary, a firm can and must borrow shares from one or more brokerage firms that currently have enough shares in inventory to lend. Brokers who fail to deliver shares owed at DTC are subject to penalties."
But this statement is directly refuted by Professor Leslie Boni, a visiting economic scholar to the SEC and the SEC themselves. In the Professor’s report, “Strategic Delivery Failures in the US Equity Markets” the professor used data provided by the NSCC, a division of the DTCC, to expose the magnitude of fails in the US equity trading system. The professor claims that not only are fails persistent in the markets but that the decision to borrow shares has nothing to do with settling trades but instead is based on the cost to borrow a share for delivery. The professor’s report highlights that over 50% of all eligible trading securities have persistent fails in the system.
So where are those penalties the DTC imposes on broker-dealers who fail to deliver shares? If a firm cannot be short in delivering shares to another firm at the DTC, how is it the DTCC system has significant fails on their books, fails that have a mean time to delivery of 13 days on the NYSE, NASDAQ, and AMEX and 56 Days on the OTCBB and pink sheets according to the DTCC’s own documents?
The ultimate answer falls into a simple phrase. Grandfathered Fraud! The SEC, in their newly created short selling reform Regulation SHO had identified that the magnitude of fails was so prevalent in our markets that they would be required to grandfather in all past fails as being exempt from a mandatory close-out. That is right, the SEC grandfathered in fails that violated the law because of the shear magnitude of the fails in the system. It meant nothing to the SEC that the fails were securities violations in the first place. It meant nothing that a Wall Street controlled DTCC was hiding the evidence of fails from the investing public; the fraud was so prevalent we had to grandfather it. Section 17A of the securities Act of 1934 required prompt settlement of trades. Rule 15c6-1 require broker-dealers to only enter into a contract for trades that would not exceed 3-days and yet the DTCC’s own records indicate massive violations that have never been enforced.
Today, there are over 1000 publicly traded companies with persistent fails in the system. Those companies include household NYSE companies such as Martha Stewart Living, Delta Air lines, and Winn Dixie. We know this because the NYSE posted their problem securities on their web site. All 60 of them. The NASDAQ will be posting their first threshold list on January 7th. Expect to see more household names listed.
The conflicts of interest on Wall Street are too prevalent to expect Wall Street to police themselves. When confronted with an ethical situation Wall Street has repeatedly proven that their greed for power and money would lead their decision making process. This is only further exacerbated by a Federal Agency, the SEC, willing to look the other way due to the contributions this power and money can bring into Washington.
While I do not have all the answers to this one, this is for certain you do not grandfather in fraud simply to protect the financial stability of those who committed the crime. We did that with the research conflicts and our economy suffered because of it. We are now doing it with the foundation of our markets - trade settlements. What are our markets if the buyer is not provided the goods purchased?
To research more into this story go to:
http://www.unm.edu/~boni/Fails_paper_Nov2004.doc - “Strategic Delivery Failures in US Equity Markets”
www.nyse.com/threshold - NYSE List of Settlement Problem Securities
http://www.sec.gov/rules/final/34-50103.pdf - SEC Regulation SHO
Wall Street has yet again proven ethics plays second fiddle to greed in their homes. Ask your Congressman how this can continue in a Nation who’s foundation is equal rights.
Happy New year to all the REAL NNOS LONGS
Yes, it was Swingtrader and also Ragganos allias at RB. I think he is verry sick of the PPS that's why he is not posting anymore.
LOL Wolfrun,
I really do hope we get a nice PR this week.
Slices under the Christmas tree..........
Well that's a good one I heard before.
GLTA
Again from another board:
By: thejonesi
02 Dec 2004, 08:54 AM EST
Msg. 482263 of 482268
Jump to msg. #
*** NNOS ACCUM.TRADING ACTIVITY LATELY...
Beam up a 5 and 10 day chart - check the volume activity to PPS increase... this is being accumulated - imo
5 to 10 bagger by end of year??
NNOS: NANOSIGNAL COORPORATION - trading at $0.0195 and inching up day to day.
(Voluntary Disclosure: LT Rating- Strong Buy)
Hai Wolfrun you are early this morning.
Just like the basher on RB.
Well your are right "cautiosly optimistic" so am I.
I see you around and good luck to you.
Did you see that the website was updated from NNOS.
It's a start.....
GLTA
Good morning,
We ended yesterday at the HOD. hopefully we gonna break the .02 today.
With some help of a nice pr we are really gonna rock.
GLTA
Hai Greensmachine.
I got this from Raging Bull not from the NNOS board but from the Niz's Billionaire Boyz Club Member Forum.
I'm also a member of the BB4. Not posting there much but only reading. Just like here. But now I think there is a turning point of NNOS. We haven't had in this hole year not 5 days in a row a up day. I'm in NNOS for over a year and 3 month. But I stay positive'.
So Peace Greensmachine and I hope for all the shareholders that we gonna rock with the pps.
From another board:
By: thejonesi
01 Dec 2004, 12:54 PM EST
Msg. 481842 of 481909
Jump to msg. #
-- UPDATE ALERT ON NNOS: 2 POINT 2 MILLION TRADED SO FAR!!!
This one is getting slightly getting noticed...
Break of $0.020 and we're of to the races into $0.10-$0.15 range!!!