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good night excel, gotta get some shut-eye. =o)
looking @ cxii and ibcs, i think cxii is a go but not sure about ibcs.
awe man! you got me all emotional missin Johny. were comin to meet ya johny! i hear that whistle blowin! its the JC Express. waitin for that rapture to pull us from this mess, and i keep pressin on....... lol
how bout the orange blossom special?
have you ever noticed that guys voice is very non-hypocritical? lots of life experience in every nuance. my oldest brother and my parents listened to his early works. because your mine....... i draw the line.
thanks excel, part six tommorow [Drawing Strength From Others].
#55 Avoid sin _ _ _ _ Do not love the world, nor the things in the world. If any one loves the world, the love of the Father is not in him. For all that is in the world, the lust of the flesh and the lust of the eyes and the boostful pride of life, is not from the Father, but is from the world (I john 2:15, 16, NASB). -..-..-..-..-..-..-..-..-..-..-..-..-..-..-..-..-..-..-..-..-..-..-..-..-..-..-.. The person who is depressed should ask himself what he is doing to make himself depressed. He may discover that he is living a life-style that is clearly against God. If that is the case, then he needs to stop doing those things, and ask God to forgive him for his past actions and attitudes. All humans have infeeriority feelings, and we tend to compensate for these feelings by yielding to the lust of the flesh (e.g., sexual sins), lust of the eyes (e.g., buying everything in site), or the pride of life (power struggles or status-seeking behavior). God wants us to accept the fact that in Him we find our own worth, and to quit using these foolish, immature, sinful, and worldly behavior patterns to compensate for false feelings of inferiority. They can result only in an ultimate lowering of self esteem and an increased rate of depression.
WWAT chart.
this sunday @ the house of God was great, the message centered on the fact that many of us are stuck on the past, what we were, what we acomplished in life, but all too few of us look ahead to the future with anticipation that the best is yet to come. wish i could remember everything (verses etc), i really like this lesson #54, there is allways room for improvement and many times a simple repentance from a sin can take us up to the next level. Hope is awsome!
#54 Avoid sin _ _ _ _ Dearly beloved, I beseech you as strangers and pilgrims, abstain from fleshhly lusts, which war against the soul (I Peter 2:11). -------------------------------------------------------------------------------------------------------------------------------------------------------------Sin has a destructive effect upon the mind, emotions, and will of man. It erodes relationships and generates insecurities which can lead to severe depression and various other psychological problems. Guilt is one form of anger - anger at the self. Pent-up anger is the root cause of the vast majority of severe depressions. Repenting from a specific sin is frequently the mojor turning point in getting over a guilt-induced depression
NNBP news
Nanobac Life Sciences, Inc. is Cleared to OTC Bulletin Board
Monday November 22, 9:53 am ET
TAMPA, Fla.--(BUSINESS WIRE)--Nov. 22, 2004--Nanobac Life Science, Inc. (OTCBB:NNBP - News), is pleased to announce that on November 18, 2004, NASD cleared ThinkEquity Partners' request for listing on the OTC Bulletin Board for Nanobac Life Sciences, Inc. Common Stock. This marks a milestone in the Company's goal to be in compliance with SEC regulations.
Commenting on the clearance, John Stanton, Chairman and CEO, stated: "We are very pleased that the NASD has cleared us to the OTC Bulletin Board. This clears the way for a new group of investors who have shown great interest in the Company, but have been unable to invest to this point. Further, we will work to create greater awareness of our underlying core technologies and value to the institutional market place."
About Nanobac Life Sciences
Nanobac Life Sciences, Inc. is dedicated to improving people's health through the detection and eradication of Nanobacterium sanguineum (Nanobacteria). The Company's pioneering research is establishing the pathogenic role of Nanobacteria in calcification, particularly in coronary artery heart disease and vascular disease. Nanobac has identified two biomarkers of nanobacterial infection, and expects to file for FDA approval of its NB2(TM) ELISA assays to detect nanobacterial antigen and IgG antibody. It is also leveraging its proprietary knowledge and intellectual property to develop the first FDA approved therapeutic to treat nanobacterial infection. The Company currently markets a patented nanobiotic regimen. For further information concerning our nanobiotic, please visit http://www.nanobacsciences.com.
Nanobac Life Sciences, Inc. is headquartered in Tampa, Florida. For more information, please visit our website at: http://www.nanobaclifesciences.com.
About ThinkEquity
ThinkEquity is a research-centric institutional investment bank focused on the growth sectors of the economy. Nanobac has retained ThinkEquity to advise the Company in all financial matters. For more information go to http://www.thinkequity.com.
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of Nanobac Life Sciences, Inc. officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-Looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future Nanobac Life Sciences, Inc. actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-Looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and Nanobac Life Sciences, Inc. has no specific intention to update these statements.
--------------------------------------------------------------------------------
Contact:
Nanobac Life Sciences, Inc., Tampa
John Stanton or Alex Edwards, 813-264-2241
or
The Ruth Group
Cynthia Isaac, PhD, 646-536-7028
cisaac@theruthgroup.com
--------------------------------------------------------------------------------
Source: Nanobac Life Sciences, Inc.
what a stinkin joke! this whole church / state thing is getting way out of hand, if you are offended, MOVE TO FRANCE!
email from onemilliondas.com
RESPONSE SURPRISES US
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It presents a story that few have heard. In the video, former homosexuals tell their own story in their own words. Along with the homosexuals, medical and mental health experts give a clear warning that the sanitized version of homosexuality being presented to students and in the media is not accurate.
I guess one reason the video has enjoyed such surprising sales is that it is 28 minutes long, which makes it a great tool to use with a Sunday School class, evening service or study group.
I hope you will order a copy and show it to your group. It should be shown in every church in America. The price is only $15, including shipping.
To order, click here.
Sincerely,
Donald E. Wildmon, Chairman
OneMillionDads.com
P.S. Please allow three weeks for delivery.
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When I Grow Up by AFR on-air personality J.J. Jasper. In this book, your children will learn with little Nathan the Biblical truth that who you are is more important than what you do.
The Poor Children in India Have a Friend in Ashish - Please take a few moments to read one man's remarkable story. Ashish has found God's calling for his life: to help as many of the poor children in India as he can.
It's Not Gay It's Not Gay presents a story that few have heard, allowing former homosexuals the opportunity to tell their own story in their own words. A great resource for use with Sunday School classes.
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PRIVACY POLICY: Information you share with us will never be sold, rented, or given to any third party. Protecting your privacy is of utmost importance to us. If you do not wish to receive further communications from us, click here to unsubscribe.
Questions or comments about OneMillionDads.com? Contact us via email, phone, fax, or postal mail.
American Family Association
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1-662-844-5036
UN CORRUPTION ESTIMATE DOUBLES
The estimates of the corruption in the UN oil-for-food probe just got a whole lot bigger. This is the program, instituted and run by the U.N., where Saddam Hussein was supposed to be able to sell barrels of oil and use the proceeds for food and medicine. In reality, he used it to build palaces, line his own pockets, buy votes on the Security Council and pay off the U.N. Everybody benefited. Everybody except the Iraqi people, of course.
Congressional investigators have discovered that Saddam Hussein made more than $21 billion in illegal revenue off the oil-for-food scam. Democratic Senator Joe Lieberman said "That humanitarian program was corrupted and exploited ... for the most horrible and aggressive purpose." Essentially what Hussein was doing was giving oil to foreign officials, journalists and terrorists, who then sold the oil to oil companies for a commission. Some of the other beneficiaries of the fraud were groups like the Popular Front for the Liberation of Palestine.
been hearing bout it for a year allready.
Posted by: Capt_Nemo
In reply to: Capt_Nemo who wrote msg# 5145 Date:11/15/2004 10:16:15 PM
Post #of 5165
Thursday, at 1 p.m., the Securities Industry of America will conduct a symposium on Regulation SHO at Fordham University at Lincoln Center.
Entitled “Implementing the New Short Sale Rules,”
Moderators are Steven Kessler, Associate General Counsel for Goldman Sachs & Co. (NYSE: GS), and Deborah Mittelman, Deputy Director of Global Compliance for Reuters’ (NASDAQ: RTRSY) Instinet. Panelists include Jeffrey Bernstein, Senior Managing Director of Bear Stearns (NYSE: BSC), and Robert O’Connor, Executive Director of the Law Department for Morgan Stanley (NYSE: MWD).
The sold-out program is on the web at http://www.sia.com/sho/html/program.html
There is a live teleconference, but it costs $195 for members and $295 for non-members.
Dave Patch, editor of “Stockgate Today,” said that the SEC has made claims to members of Congress that mandatory close-out of threshold securities is intended to address the abusive backlog on settlement failures; however, “the SEC remarkably eliminated all references to timelines as it pertains to ‘mandatory’ when it released SHO.
“In the original proposal the SEC admitted to having 2 days listed as the timeline to mandatory close-out but the final draft had it removed presumably on behalf of DTCC requests. An NASD proposal which also defined a timeline for mandatory close-out was in like discarded by the SEC and has yet to see an open public comment regarding its merits.
“With members of the SEC on the panel to address the issues, those attending this symposium will have the opportunity to hear how the SEC explains ‘mandatory’ to the Industry and how the SEC and SRO’s will be enforcing that definition,” Patch concluded.
NBC’s “Dateline” recently confirmed to FinancialWire that it is preparing a comprehensive expose of the “naked short selling” controversy.
The reportage is said to focus on allegations that “brokers, through their wholly owned clearing house system, the Depository Trust Corporation (DTCC), have effectively been creating counterfeit shares of stock through their ‘Stock Borrow Program’, which allows brokers to ‘borrow’ the same shares over and over again, artificially inflating the share count and driving the price of the stock down.
Stockgate, a growing global malady, is being contested on multiple levels, including judicial, legislative and political.
Delegates to the September 20 annual SEC Forum on Small Business passed several resolutions on the issue to be submitted to the SEC. Among them were:
1. Extend Reg. SHO to apply to all publicly traded companies including non-reporting companies.
2. Recommend that the SEC Commissioners reinstate the proposed provision in Regulation SHO that prohibited a selling shareholder from withdrawing his/her profits from the trade until after delivery of the underlying sold shares.
3. SEC should require all SROs, and any clearinghouse for an SRO that receives securities into accounts for security holders to disclose the fact of the ability to loan the securities in the accounts and allow security holders to opt out of allowing the securities to be loaned.
Robert Shapiro, chair of Sonecon LLC, an economic advisory firm and former Under Secretary of Commerce from 1998 to 2001 and principal economic advisor to President William Clinton in his 1992 campaign, has expressed “serious concerns about the impact of the final version of Regulation SHO regarding short sales on the equity and transparency of our equity markets.”
Shapiro holds a Ph.D. from Harvard University and has been a Fellow of the National Bureau
of Economic Research, the Brookings Institution, and Harvard University.
Shapiro said the SEC is correct to broaden the terms of regulation of short sales, and applauded the section directing broker dealers to mark all equity orders as “long,” “short” or “short exempt.” More important, he said, the new “locate and delivery” requirements could substantially reduce stock manipulation carried out through naked short sales -- but only if those requirements are
widely applied and strictly enforced.
“Unfortunately, Regulation SHO does not meet either of these two standards. The troubling result is that the Regulation, in effect, establishes an official level of tolerance for unsettled or naked short sales,” Shapiro charged.
Shapiro said he strongly concurs with the comments of the North American Securities Administrators Association (NASAA) on the draft rule, which said NASAA was “unable to determine why the Commission proposes to permit significant settlement failures at all. While there are instances when settlement may be legitimately delayed, existing regulations provide for extensions for settlement. If the Commission continues to allow settlement failures, it may well facilitate the harm that the proposal is designed to remedy.”
“Until Regulation SHO, this economic counterfeiting has been facilitated by electronic record keeping and the apparent practice of the DTCC and its subsidiary National Securities Clearing Corporation (NSCC) of often disregarding persistent unsettled short positions. With Regulation SHO, the SEC has provided its implicit imprimatur for the same practice in cases covering the vast majority of public companies and billions of dollars.”
Shapiro urged the SEC to “reconsider the provisions of Regulations SHO and, at a minimum, apply the ‘locate and delivery’ requirements for threshold securities to all short sale transactions, and adopt a zero-tolerance policy for significant settlement failures. American investors should feel confident that the SEC will ensure the integrity of every equity transaction they undertake and fully protect their right to receive what they have paid for.”
While the battle is still waged in the U.S., some of the threats to small investors’ investments are being exacted overseas. Despite some 250 companies winning their exit pass, the FaulkingTruth.com website reported that dozens of companies are still being refused delistings from the Berlin-Bremin Exchange, including ImageWare Systems (AMEX: IW) and Action Products International (NASDAQ: APII). FinancialWire also reported that Sontra Medical Corp. (NASDAQ: SONT) is among those whose shares Berlin has resisted delisting.
In all, Faulk said Berliner Freiverkehr CEO Holger Timm reported he has been asked by 386 firms to cease their trading. He is said to have balked at the term delisting, noting that “Trading foreign shares on the third-tier market segment at the Berlin or any other German exchange is not being regarded as a 'listing', therefore it is incorrect to use the term 'delisting' if a company wants to cease trading."
FaulkingTruth said others refused delistings include Endevco Inc. (OTCBB: ENDE), Limelight Media Group (OTCBB: LMMG), IpVoice Communications (OTCBB: IPVO), now NewMarket Technology Inc, (OTCBB: NMKT), Force Protection (OTCBB: FRCP), Cyber Digital Inc. (OTCBB: CYBD), and XRAYMEDIA (OTCBB:XRYM). Others mentioned yesterday included Military Communications Technology (OTCBB: MLTA), Dalrada Financial Corp. (OTCBB: DRDF), and Mannatech Inc. (NASDAQ: MTEX).
Timm sent a letter to companies asking to be delisted, which promised if “after considering the above aspects, should you still prefer your stocks not to be traded in Germany we will respect your wish and apply for delisting on the Berlin stock exchange.”
However, for dozens of companies, that appears to have been an empty offer.
In a comment letter to the U.S. Securities and Exchange Commission, Larry Thompson, Managing Director and Senior Deputy General Counsel for the DTCC, said it is a violation of Section 17A of the Securities Act of 1934 to impose any process or restriction that would cause delays in the settlement process, said the online newsletter, published by http://www.investigatethesec.com.
“Although not the intent of the comment letter, Mr. Thomson has just become part of a growing number of people who contend that the most recent short selling reform package out of the SEC, Regulation SHO, may not be in compliance with federal law.
“The letter submitted to the SEC on August 16, 2004 was addressing the SEC’s proposal to restrict all transfer agents from clearing trades on those issuers who created a ‘Custody Only”’ restriction on the trading of their securities,” noted the newsletter.
“His legal points, presumably unintended, actually shot squarely across the bow of the SEC’s Regulation SHO,” said StockGate Today, pointing to http://www.sec.gov/rules/proposed/s72404/s72404-14.pdf
“Thompson concludes his opinion letter to the SEC by surmising that the SEC should proceed on with this proposal as written because issuers are not authorized to put restrictions on their stock. For transfer agents to clear these stocks would be aiding and abetting unlawful conduct. The point of law being the settlement requirements defined in Section 17A of the Securities Act of 1934.
“Thus, asked the newsletter, with Thompson “claiming that a delay in the settlement of trades is unlawful how can Regulation SHO be grounded by the presumption that trade settlements are not a mandatory part of the Markets?
“The SEC, in Regulation SHO claims that 4% of all publicly traded companies have levels of settlement failures that exceed an abusive threshold. They also admit that in some cases the failures exceed the entire public float of companies. These are market conditions not only create delays and inefficiencies but fraud and manipulation as well. The SEC’s final package never addressed forced settlements and forced timelines on the failures but instead simply threatened ‘future enforcement’ possibilities and placed “restrictions’ above abusive levels.
The final Regulation SHO rules are at http://www.sec.gov/rules/final/34-50103.htm. The trade reporting requirements are at http://www.nasdr.com/2610_2004.asp#04-54.
Recently it was reported that regulated companies, such as dealers, brokers, mutual fund companies, financing firms, and investment houses, have been told they have to submit revised operating manuals to incorporate changes in the Anti-Money-Laundering Act of 2001 by Oct. 29.
The key is a requirement that regulated firms “must know their customers” to prevent money-laundering practices. The firms have to have a procedure to get satisfactory proof of the customer's identity and ensure that effective procedures for verifying the identity of new customers are in place.
However, FinancialWire interviews with spokespersons at the SEC has determined that individuals may open nominee offshore firms without providing their identities to anyone, and by using a multiple number of such nominee firms can even gain complete control of a public company while never revealing their true identities.
The SEC told FinancialWire that it has no power to require identification of individuals behind such firms.
Columnist Jack Anderson has stated that millions if not billions of dollars are laundered through naked short selling schemes.
Twenty civil cases have now been filed by O'Quinn, Laminack & Pirtle, Christian Smith & Jewell, and Heard, Robins, Cloud, Lubel & Greenwood, LLP, all of Houston, Texas. The consortium of law firms, famed for the giant awards they obtained suing tobacco companies. The group recently brought suit against the Depository Trust and Clearing Corp. for allegedly participating in the short-selling conspiracy through its “stock borrow” program which the attorneys say is nothing more than an illegal electronic printing press for stock certificates.
Lead counsel John O'Quinn said: "We are committed to the relentless pursuit of justice.”
All this has led to some major changes on Wall Street, if not regulatory attentiveness.
Recently observers were surprised to find a comment letter submitted to the SEC by Mike Alexander, Senior VP of Charles Schwab, that admits outright that brokerages regularly ignore rules and regulations, saying it is not rules that need to be written; it is changes in behavior that is needed.
“Schwab opposes the notion that securities intermediaries such as broker-dealers be required to police compliance,” he stated. “The NYSE and other SROs have had trade affirmation rules on their books for some time. However, such rules have not been effective in changing the behavior
of Buy-Side firms or their custodians; nor do the rules provide assurance that the affirmed trade will settle.
“Recognition of this fact is evidence that changes to the settlement cycle not only require overhauling systems, but also changing behavior. We believe that only by holding all market
participants directly accountable for making required affirmations will the necessary changes to behavior,” he stated at http://www.sec.gov/rules/concept/s71304/charlesschwab061604.pdf .
“The SEC claims that the number of companies involved in this ‘threshold security’ category is 4% of all publicly traded companies. If in fact it is that small the process is certainly manageable,” said the website InvestigatetheSEC.com at http://www.investigatethesec.com . “It is also the right of every issuer, in protecting their business and their investors to know the status of their stock trading.”
Some were discussing whether the SEC can keep such information private under the Freedom of Information Act.
The marketplace is already upset over promises by the Berlin Stock Exchange, since broken, that it would delist any company upon request.
“Please understand that cessation of trading in the shares of XRAYMEDIA Inc. (OTCBB: XRYM) is not possible,” the exchange told one such requester.
It’s not just U.S. companies such as Whistler Investments (OTCBB: WHIS), Sonoran Energy (OTCBB: SNRN), Celsion Corporation (AMEX: CLN), and eLinear Inc. (AMEX: ELU) or Israeli companies that have had serious concerns about their unannounced and unathrorized listings on the Berlin-Bremen Stock Exchange.
According to court filings supported by the O’Quinn/Christian legal network, almost $1 billion annually is received by the Depository Trust and Clearing Corp. for its “Stock Borrow Program,” which the lawsuits claim is just a fancy name for counterfeiting, as the DTCC purportedly lends out many multiples of the actual certificates in the float. Apparently the SEC receives a transaction fee for each transaction facilitated by these loans of non-existent certificates, which could knock a hole in its budget should the revenues from the practice be halted.
The North American Securities Administrators Association, comprised of state and Canadian regulators, has pointedly told the SEC that either it must rethink its cozy DTCC relationship, or it hints, some of its more aggressive state practitioners (think Eliot Spitzer) may do the rethinking for the SEC.
Naked short selling is worrisome for hundreds of small U.S. companies, including those recently asking to be delisted from the Berlin Stock Exchange, such as Golden Phoenix Minerals, Inc. (OTCBB: GPXM), Nannaco, Inc. (OTCBB: NNCO), 5G Wireless Communications, Inc. (OTCBB: FGWC), CyberAds, Inc. (OTCBB :CYAD), Provectus Pharmaceuticals, Inc. (OTCBB: PVCT), House of Brussels Chocolates (OTCBB: HBSL), InforMedix, Inc. (OTCBB: IFMX), Tissera, Inc. (OTCBB: TSSR), Americana Publishing, Inc. (OTCBB: APBH), Celsion Corporation (AMEX: CLN), ChampionLyte Holdings, Inc. (OTCBB: CPLY), Pickups Plus, Inc. (OTCBB:PUPS), China Wireless Communications Inc. (OTC BB: CWLC), CareDecision Corp. (OTCBB: CDED), Titan General Holdings, Inc. (OTCBB: TTGH), IPVoice Communications, Inc. (OTCBB: IPVO), Whistler Investments (OTCBB: WHIS), WARP Technology Holdings, Inc. (OTCBB: WRPT), BGR Corp. (OTCBB: BGRR), ICOA, Inc., (OTCBB: ICOA), DICUT, INC. (OTCBB: DCUTE), NHC Communications Inc. (TSX: NHC; OTCBB: NHCMF), Stratus Services Group, Inc. (OTCBB: SERV), Golden Phoenix Minerals, Inc. (OTCBB: GPXM).
Small public companies are squeezed not only by hedge funds, naked short sellers, overseas listers such as the Berlin Stock Exchange, and the out-of-control “Stock Borrow Program” run by the governance-conflict-laden Depository Trust and Clearing Corporation, but to the amazement of the industry, as often and not by their own regulators.
A new staff recommendation by Annette Nazareth, director of the division of market regulation at the U.S. Securities and Exchange Commission to “outlaw” ownership of paper certificates at the same time the Depository Trust and Clearing Corporation is under intense scrutiny for alleged electronic counterfeiting has begun hitting the small public company markets, company executives, shareholders and manipulative short-selling opponents like the proverbial ton of bricks.
A Dow Jones (NYSE: DJ) article by Judith Burns sparked the uproar, as the inextricably intertwined web of connections between the SEC and the DTC, which is sagging from the weight of conflicted governance by representatives from a rollcall of industry heavyweights, including NASD, which owns NASDAQ (OTCBB: NDAQ), the New York Stock Exchange, Goldman Sachs (NYSE: GS) and Lehman Brothers (NYSE: LEH), to name only a few.
The Dow Jones report noted that “naked short-selling occurs when sellers don't buy shares to replace those they borrowed, a manipulative practice that can drive a company's stock price sharply lower.
The recent lawsuit filed by Nanopierce Technologies (OTCBB: NPCT) alleges that the Depository Trust and Clearing Corp. has a lot of reasons, almost one billion of them a year, to keep illegal naked short selling in operation. It was the shot across the bow by the legendary Houston law firms of Christian, Smith, Wukoson and Jewell, and OQuinn, Laminack and Pirtle, whose notches already include environmental targets, the breast implant industry and the tobacco industry, all brought to their knees.
In comments to the U.S. Securities and Exchange Commission, C. Austin Burrell, who is providing litigation support and research for the law firms, said that StockGate is more massive than anyone may have imagined. “Illegal Naked Short Selling has stripped hundreds of billions, if not TRILLIONS, of dollars from American investors,” and have resulted in over 7,000 public companies having been “shorted out of existence over the past six years.” Burrell said some experts believe as much as $1 trillion to $3 trillion has been lost to this practice.
He stated that the restrictions on short selling were deliberately put into the Securities Acts of 1933 and 1934 because of the first-hand evidence then available that the “sheer scale of the crashes was a direct result of intentional manipulation of US markets through abusive short selling by a massive conspiracy.”
Burrell noted that the 65-lawyer team presided over by lead lawyers Wes Christian and John O’Quinn has uncovered more than 1,200 hedge fund and offshore accounts working through more than 150 broker-dealers and market makers in a joint cooperative effort to strip small and medium size public companies of their value.
According to lawyer Christian, et.al., the DTC is at the very heart of the problem, and has almost a billion dollars a year at stake in keeping the problem.
The Depository Trust Company (DTC) is a member of the U.S. Federal Reserve System, a limited-purpose trust company under New York State banking law and a registered clearing agency with the SEC. The depository supposedly brings efficiency to the securities industry by retaining custody of some 2 million securities issues, effectively "dematerializing" most of them so that they exist only as electronic files rather than as countless pieces of paper. The depository also provides the services necessary for the maintenance of the securities it has in “custody.”
According to the suit, the DTCC has an enormous pecuniary and conflicted interest in the entire short selling scandal through the huge income stream they were realizing from it every day. They have made literally billions of dollars lending individual real shares, in most cases over and over, getting a fee each time they made a journal entry in the “Stock Borrow Program.”
The Stock Borrow Program was purportedly set up to facilitate expedited clearance of stock trades. Somewhere along the line, the DTCC became aware that if it could lend a single share an unlimited number of times, it could collect a fee each time, according to Burrell. “There are numerous cases of a single share being lent ten or many more times,” giving rise to the complaint that the DTCC has been electronically counterfeiting just as was done via printed certificates before the Crash.
“Such re-hypothecation has in effect made the potential ‘float’ in a single company's shares virtually unlimited and the term ‘float’ meaningless. Shares could be electronically created/counterfeited/kited without a registration statement being filed, and without the underlying company having any knowledge such shares are being sold or even in existence.” Burrell said the Christian/O’Quinn lawsuits will seek to show that the “counterfeiting/creation of unregistered shares is a specific violation of the Securities Act of 1933, barring the ‘Sale of Unregistered Securities’.”
One lawsuit alleges that the DTC has a colossal disincentive to stop the “stock borrow” program, booking revenues from services of $425,416,000 and similarly, the NSCC deriving revenues of $293,133,000.
Further, the suit alleges that “open positions” resulting from this activity at the close of business on December 31, 2003, “approximated $3,025,467,000” due to NSCC, and $2,303,717,000 due by NSCC, and unsettled positions of $721,750,000 for securities borrowed through the NSCC’s “Stock Borrow Program.”
Nanopierce claims that DTCC and NSCC have joined in a “scheme” to “manipulate downward the price of the affected securities, thereby reducing the market value of the open fail to deliver positions.” The suit also claims that the s have permitted sellers to maintain open fail to deliver positions of tens of millions of shares for periods of a year and even longer.
It quotes the National Association of Security Dealers as admitting that “concerns have been raised by members, issuers, investors and other interested parties about potentially abusive short selling activities occurring in the marketplace. In particular, naked short selling, or selling short without borrowing securities to make delivery, can result in long term failures to deliver, including aggregate failures to deliver that exceed the total float of a security. NASD believes such extended failures to deliver can have a negative effect on the market. Among other things, by not having to deliver securities, naked short sellers can take on larger short positions than would otherwise be permissible, which can facilitate manipulative activity.”
The largely unregulated DTC has become something of a defacto Czar presiding over the entire U.S. markets system, wielding more day-to-day influence and control than the SEC, the NASD and NASDAQ combined.
The Depository Trust and Clearing Corp.’s two preferred shareholders are the New York Stock Exchange and the NASD, a regulatory agency that also owns the NASDAQ (OTCBB: NDAQ) and the embattled American Stock Exchange! Regulators, regulate thyself?
In an era when corporate governance is the primary interest for the SEC and state regulators, the DTCC is hardly a role model. Its 21 directors represent a virtual litany of conflict:
They include Bradley Abelow, Managing Director, Goldman Sachs (NYSE: GS); Jonathan E. Beyman, Chief Information Officer, Lehman Brothers (NYSE: LEH); Frank J. Bisignano, Chief Administrative Officer and Senior Executive Vice President, Citigroup / Solomon Smith Barney's Corporate Investment Bank (NYSE: C); Michael C. Bodson, Managing Director, Morgan Stanley (NYSE: MWD); Gary Bullock, Global Head of Logistics, Infrastructure, UBS Investment Bank (NYSE: UBS); Stephen P. Casper, Managing Director and Chief Operating Officer, Fischer Francis Trees & Watts, Inc.; Jill M. Considine,Chairman, President & Chief Executive Officer, The Depository Trust & Clearing Corporation (DTCC);
Also, Paul F. Costello, President, Business Services Group, Wachovia Securities (NYSE: WB); John W. Cummings, Senior Vice President & Head of Global Technology & Services, Merrill Lynch & Co. (NYSE: MER); Donald F. Donahue, Chief Operating Officer, The Depository Trust & Clearing Corporation (DTCC); Norman Eaker, General Partner, Edward Jones; George Hrabovsky, President, Alliance Global Investors Service; Catherine R. Kinney, President and Co-Chief Operating Officer, New York Stock Exchange; Thomas J. McCrossan, Executive Vice President, State Street Corporation (NYSE: STT); Eileen K. Murray, Managing Director, Credit Suisse First Boston (NYSE: CSR); James P. Palermo, Vice Chairman, Mellon Financial Corporation (NYSE: MEL); Thomas J. Perna, Senior Executive Vice President, Financial Companies Services Sector of The Bank of New York (NYSE: BNY); Ronald Purpora, Chief Executive Officer, Garban LLC; Douglas Shulman, President, Regulatory Services and Operations, NASD; and Thompson M. Swayne, Executive Vice President, JPMorgan Chase (NYSE: JPM).
In their comments to the SEC regarding Regulation SHO in January, the 50 state regulators, through their association, the North American Association of Securities Administrators (NASAA) issued what many consider to be a strong warning that if the DTC is not dealt with in the final regulations, state regulators such as New York State Attorney General Eliot Spitzer may step to the plate.
In what many considered to have been explosive comments, Ralph Lambiase, NASAA president and Director of the Connecticut Division of Securities, warned "NASAA urges the Commission to reconsider its stance regarding the role of the Depository Trust and Clearing Corporation (the DTC). As a threshold matter, NASAA believes that the Commission should explicitly prohibit the DTC from lending more shares of a security than it actually holds. The ability of the overall proposed rule would be severely impared unless the Commission undertakes to implement such a prohibition.”
Recently, leading market makers and brokers named in various lawsuits and other actions, including FleetBoston (NYSE: FBF), Goldman, Sachs & Co. (NYSE: GS), H. Myerson & Co., Inc. (NASDAQ: MHMY), Olde / H&R Block (NYSE: HRB), Charles Schwab (NYSE: SCH), Toronto-Dominion’s (NYSE: TD), TD Waterhouse Group, Bank of America's (NYSE: BAC) Banc of America Securities LLC, Societe Generale's (OTC: SCGLF) SG Cowen Securities Corp. vFinance, Inc. (OTCBB: VFIN), Knight Trading Group, Inc. (NASDAQ: NITE), A.G. Edwards, Inc. (NYSE: AGE), Ameritrade Holding Corp. (NASDAQ: AMTD), Deutsche Bank AG (NYSE: DB), and ETrade Group, Inc. (NYSE: ET), were forced to comply with new short-selling market regulations imposed by the NASD after the SEC had “sat on” the NASD request to plug material loopholes for almost 2-1/2 years.
“The new rules expand the scope of the affirmative determination requirements to include orders received from broker/dealers that are not members of NASD ("non-member broker/dealers").
The new rule is on the web at http://www.nasdr.com/2610_2004.asp#04-03
http://www.investrend.com/articles/article.asp?analystId=0&id=11696&topicId=160&level=16....
in fxgp @ .0035 today
MMON Marmion 1-500 R/S
Tegal Receives Order for 980ACS Series Plasma Etch System from Leading European Telecom Device Firm
Thursday November 18, 8:00 am ET
Follow-on Order is First in Major Fab Expansion
PETALUMA, Calif.--(BUSINESS WIRE)--Nov. 18, 2004--Tegal Corporation (Nasdaq:TGAL - News) today announced that a leading European analog and mixed signal device manufacturer has placed an order for a Tegal 980ACS (Advanced Control System) plasma etch system that will be used for high-volume fabrication in its new 200 mm production facility. This follow-on order was based on the excellent performance of the Tegal 900 and 6500 series tools currently used in production, along with Tegal's VLSI 10 Best Award winning technical support, and process development expertise. The tool purchase is part of a major planned fab expansion.
"Tegal is the tool of record for mainstream etch processes in this advanced wafer fab," said Mike Parodi, Tegal's chairman, president and CEO. "Our 980ACS system provides substantial productivity and cost-of-ownership advantages over competitive tools. Naturally, we are very pleased to be rewarded with a repeat order from this leading device producer. We have also been told to expect additional orders in the coming months."
The Tegal 980ACS is the latest in a series of plasma etch systems produced by Tegal for companies around the world. More than 1,500 systems have been shipped over the years and continue to provide reliable and cost-effective support for a wide range of processes. Popular applications include silicon nitride and oxide dielectric etch in addition to a wide variety of polymer etch treatments. Many of today's MEMS and nano-structure devices require simple, high-throughput plasma processes uniquely served by the 900 and 980 series systems.
Safe Harbor Statement
The statements in this news release are forward-looking statements that involve a number of risks and uncertainties. As discussed in Tegal's annual report on Form 10-K for the fiscal year ended March 31, 2004, assumptions relating to the foregoing involve judgments with respect to, among other things, the ability of Tegal to successfully implement its business strategy; future economic, competitive and market conditions, including those in Europe and Asia and those related to Tegal's strategic markets; whether the products offered by Tegal will continue to achieve customer acceptance, and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Tegal. Although Tegal believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in the forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Tegal or any other person that Tegal's objectives or plans will be realized. Tegal undertakes no obligation to revise the forward-looking statements contained herein to reflect such events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
About Tegal
Tegal provides process and equipment solutions to leading-edge suppliers of advanced semiconductor and nanotechnology devices. Incorporating unique, patented etch and deposition technologies, Tegal's system solutions are backed by over 35 years of advanced development and over 100 patents. Some examples of devices enabled by Tegal technology are energy efficient memories found in portable computers, cell phones, PDAs and RFID applications; megapixel imaging chips used in digital and cell phone cameras; power amplifiers for portable handsets and wireless networking gear; and MEMS devices like accelerometers for automotive airbags, microfluidic control devices for ink jet printers; and laboratory-on-a-chip medical test kits. More information is available on the Internet at: www.tegal.com.
--------------------------------------------------------------------------------
Contact:
Tegal Corporation
John Almerico, 707-765-5613
jalmerico@tegal.com
or
Loomis Group, Inc.
Vincent Mayeda, 909-614-1767
mayedav@loomisgroup.com
woe! i do remember that fox called them out when people gave for 9-11 and found that they didn't intend to help the victoms survivors with the huge sums of money.
#53 Avoid sin _ _ _ _ By faith Moses, when he was come to years, refused to be called the son of pharaohs daughter; Choosing rather to suffer the affliction with the people of God, than to enjoy the pleasures of sin for a season; Esteeming the reprouch of Christ greater riches than the treasures in Egypt: for he had respect unto the recompence of the reward (Heb. 11: 24-26). -.--.-..-.--.-..-.--.-..-.--.-..-.--.-..-.--.-..-.--.-..-.--.-..-.--.. When individuals are depressed, they may turn to various sins for relief. Little do they realize that thier depression will usually be intensified by the resulting guilt. Moses had perspective. He knew there was pleasure in sin, and he also knew the pleasure lasted only for a season.
Press Release Source: MFIC Corporation
MFIC Corporation Announces Receipt of Approximately $2.9 Million of New Orders for Microfluidizer Processor Systems, Parts, and Increase in Backlog to Record Level
Thursday November 18, 3:21 pm ET
NEWTON, Mass.--(BUSINESS WIRE)--Nov. 18, 2004--MFIC Corporation (OTCBB: MFIC - News) announced today receipt since September 30, 2004 of a series of recent significant orders totaling approximately $2,900,000.
Equipment orders received include several M-700 Series production volume Microfluidizer processor systems. Also included are orders for a large number of proprietary interaction chambers and replacement parts, to be shipped during 2005, for high volume production Microfluidizer materials processor systems. Additionally, the backlog includes orders for a variety of configurations of laboratory Microfluidizer processor systems, pilot production systems and production systems.
Backlog for Microfluidics products, inclusive of the above orders, has increased from approximately $2,288,000 at September 30, 2004 to $4,660,210 at November 16, 2004, a record level.
Irwin Gruverman, CEO of MFIC Corporation stated, "This acceleration in booked activity indicates increased capital spending by biotech, pharmaceutical and other businesses. Interest and bookings for laboratory Microfluidizer processors are also robust, especially for our more advanced instrumented electric hydraulic units. The result of this demand is a marked increase in Microfluidics products backlog to a historic high level, with delivery of most of these new orders scheduled in 2005. We look forward to the completion in 2004 of a strong sales year and improving profitability. With the current orders and backlog in hand and existing level of sales quotations, inquiries and orders we can anticipate a significant portion of the 2005 year's sales."
Management believes that this release contains forward-looking statements that are subject to certain risks and uncertainties including statements relating to the Company's ability to achieve attain and/or increase operating profitability, and/or to achieve and/or improve net income profitability. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties that could cause actual results achieved by the Company to differ materially from those described in the forward-looking statements. The Company cautions investors that there can be no assurance that the actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various factors, including but not limited to, the following risks and uncertainties: (i) whether the performance advantages of the Company's Microfluidizer materials processing equipment will be realized commercially or that a commercial market for the equipment will continue to develop, (ii) whether the Company will have access to sufficient working capital through continued and improving cash flow from sales and ongoing borrowing availability, the latter being subject to the Company's ability to comply with the covenants and terms of the Company's loan agreement with its senior lender, and (iii) whether the Company will be able to produce and make timely delivery of equipment under accepted purchase orders and outstanding sales quotations.
MFIC CORPORATION
MFIC Corporation, through its Microfluidics Division, provides patented and proprietary high performance Microfluidizer® materials processing equipment to the biotechnology, pharmaceutical, chemical, cosmetics/personal care, and food industries. MFIC applies its 20 years of high pressure processing experience to produce the most uniform and smallest liquid and suspended solid structures available, and has provided manufacturing systems for nanoparticle products for more than 15 years. The Company is a leader in advanced materials processing equipment for laboratory, pilot scale and manufacturing applications, offering innovative technology and comprehensive solutions for nanoparticles and other materials processing and production. More than 3,000 systems are in use and afford significant competitive and economic advantages to MFIC equipment customers.
--------------------------------------------------------------------------------
Contact:
MFIC Corporation
Irwin Gruverman, CEO & Chairman
Robert P. Bruno, President & COO, or
Jack M. Swig, Investor Relations.
617-969-5452
info@mfics.com
Website: www.mficcorp.com
Greetings and salutations brethren, lol, I just want to apologize for not keeping up on the daily post - very late days lately, not to mention my wife has been organizing a womens expo for women in business. cant wait for that thing to pass! anyway, you guys rock! sleep well. ... ps, i just made 100% on my ththf sale @0002 , only took about three weeks to go through!
and i wish i had more free time. thanksgiving is comin up, your welcome to drop in.
#52 Resist the Devil ___ Submit yourselves therefore to God. Resist th devil, and he will flee from you. Draw near to God, and He will draw near to you. Cleans your hands, you sinners; and purify your hearts you double minded (James 4:7, 8). ----------------------------------------------------------------------------------------------------------------------------------------------------------------------Christians cannot be demon-possessed, since God, who is in us, is stronger than the devil, and since 1st Corinthians 10:13 promises that God always provides for the Christian a way to escape all temptations. However, the devil loves to harass Christians. In James 4:7, 8, God promises that merely resisting the devil will result in him fleeing from us. Many Christians love to blame the devil for thier own irresponsible behavior. This temporarily relieves some of thier guilt feelings. As Christians, however, we must instead resist the devil and draw near to God. The devil will flee and God will quickly draw nigh to us.
working alot, there is a house up the street im thinking of buying to rent out or sell. trying to spend quality time with the wife and kids, it not easy. i must have takin my eye off the mark, things should be easier than this.
still holding cded hstj
CDED COME FORTH!.... :o)
I cded people, U cded people, We all cded people round here! :'O
#51 Be Aware of the Techniques of Satan ___________ Finally, my brethren, be strong in the Lord, and in the power of his might. Put on the whole armor of God, that ye may be able to stand against the whiles of the devil. For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of darkness of this world, against spiritual wickedness in high places (Eph. 6:10-12). -------------------------------------------------------------------------------------------------------------------------------------------------------- The devil has many schemes to trip up Christians. We wrestle against evil spiritual forces. I believe one of the major means used by these evil forces on serious Christians is depression. God encourages us to stand firm against these evil forces by putting on the full armor of God - truth (including the truth about ourselves), righteousness (right behavior), the gospel of peace, faith, salvation, the Word of God, and prayer.
see dead.
So there i was driving to work last week and heard the news... Our men are goin in to urban warfare on the streets of faluja. and what i heard promped me to pray on the spot, a large group of men prepared for the battle by listening and signing to christian rock songs, three men were baptised. i can only imagine how these men have touched the heart of our God. - God bless these men and women fighting this war on terror. in the name of Christ Jesus, Amen.http://www.commondreams.org/headlines04/1107-02.htm
i like these two on his site. June 28, 2004- Hollywood, CA
"...And I told you there was vindication before and there shall be vindication again. I shall raise up those that will counter Fahrenheit 911. I shall reveal the truth upon the same screen that the enemy has endeavored to use to bring shame to the President of the USA. He’s a man who prays, I have set him aside, and even today, says the Spirit of the Lord, he prayed again. Not that he would be re-elected, (here is a secret) he does not want to be re-elected,” says the Lord. It’s going to take My convincing power for this to happen, not for the sake of war, but for the sake of righteousness in this Nation. I shall completely confound a plan that has been brought about in the summer to minimize this man to nothing but a mere creature of habit. Once again I will use my righteousness. They say they want a victory regarding the presidential decision, but this is no big thing, says the Lord. For your enemies have sat in their places, waiting for another man to go to your House called White,” but the Spirit of God says, “they will not have that satisfaction..."
May 24, 2004 - Hollywood, CA
“Michael Moore has won an award for that which has brought a stench to my nostrils, says the Lord. For this man that I have placed as the head of this Country, shall arise out of the ashes of humiliation, says the Lord. And I will take the pride and the stench that has come from Hollywood, and turn it around.”
former osama tracker.
http://investorshub.com/boards/read_msg.asp?message_id=4558329
#50 Be Aware of the Techniques of Satan ___________ Simon. Simon, behold, Satan has demanded permission to sift you like wheat; but i have prayed for you, that your faith may not fail; and you, when once you have turned again, strengthen your brothers (Luke 22:31,32, NASB). ------------------------------------------------------------------------------------ --------------------------------------Satan does desire to have us and render us ineffective by whatever means he can. Of course, depression is an excellent way to render a christian ineffective. Notice what Christ said. He said that He would protect Peter. Christ encouraged Peter once he "turned again" to help his brothers.
check.
Wow, al jazera must have missed that one. lol
KM, where you been? you got them post election blues? =o) lol no time this a.m. to post #50, part five comin up, we won't want to miss it! see you guys later tonight.