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I heard from the transfer agent. There is a naked short on the stock. Total short shares 1,116,025 which is about 25% of the 4m float. This is the reason the stock price fell, and the reason why its still down. The short position will try to keep it short as long as the short position makes money. The short loses money when the price hits .06 cent a share. This price represents when the short will cover, although of course the short must cover all sales of the stock according to the law, the reality is that at .06 cent the short will cover for $ reasons not for compliance reasons.
Secondly, there is 49m shares OS. This is good news.
Third, the compnay has stated to the transfer agent that it intends on becomming fully reporting and moving off the pinksheets as soon as it can.
CCMJ has just been added to the NASDAQ, AMEX and NYSE naked short threshold list.
What do you make of this?
CCMJ -- CruiseCam International, Inc.
Com (10 Cents)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
BUYINS.NET: MGEN, QTEK, WWAT, CCMJ, CNIC, IZYPF Have Also Been Added To Naked Short List Today
Jul 09, 2007 (M2 PRESSWIRE via COMTEX) -- BUYINS.NET, www.buyins.net, announced today that these select companies have been added to the NASDAQ, AMEX and NYSE naked short threshold list: Med Gen Inc. (OTCBB: MGEN), Quintek Technologies Inc. (OTCBB: QTEK), WorldWater & Power Corp. (OTCBB: WWAT), CruiseCam International, Inc. (OTC: CCMJ), Copernic, Inc. (NASDAQ: CNIC), Inflazyme Pharmaceuticals Ltd. (OTC: IZYPF). For a complete list of companies on the naked short list please visit our web site. To find the SqueezeTrigger Price before a short squeeze starts in any stock, go to www.buyins.net.
Med Gen Inc. (OTCBB: MGEN) manufactures and markets specialty products using its proprietary delivery system, Spray's the Way. Its flagship product includes SNORenz, a throat spray, which reduces or eliminates the sounds ordinarily associated with snoring. The company also provides other products, including Good Nights Sleep, a liquid throat spray formulation for sleep aide; PAINenz, a natural penetrating pain relief roll-on medicine, which formulates to bring temporary relief from minor arthritis, bursitis, muscle aches, backaches, sports related injuries, and sprains muscle strains; and UNDIET, a weight loss program. Med Gen sells its products through DRTV television and print advertising campaigns, as well as company owned and operated Web sites direct to the consumer, and various distribution agreements. In addition, the company markets its products under various private labels for other distributors in the United States and overseas. Med Gen was founded in 1996 and is headquartered in Boca Raton, Florida. With 393.01 million shares outstanding and 220,700 shares declared short as of June 2007, there is a failure to deliver in shares of MGEN.
Thanks Tina hopefully the begining of pr
CCMJ not filling soon to be pennies
Some of Driver's Alert's clients include Tyco, ConAgra, Comcast, Brinks Home Security, Greyhound, CoachUSA, Rentway and Keebler.
They just need to go out and market Cruise Cam's products to the existing fleets they service. Lots of revenue potential there.
CCMJ i have been on the ask for 11 minutes without a fill looks primed to hit the pennies again great product
Great board, any opinion kgoodrich on GRXI Thanks
starting out the same way as LNGT did sure wish I had my 1 million shares back of that, sold at .03 from .0035 ...live and learn
FANC the MM now sits at .006 he was the wall at .0015 on Monday, backed off.
I actually think that the float has been eatin up a bit. Tough to get fills and I tested the market and sold at the ask. I personally don't think that they will dilute at these prices. They know of the merger partner already and I don't think they would let me sell at the ask if they were diluting....personal opinion.
This doesn't mean they are selling, not all companies are like Cornell
Very nice DR, where do you see this run going Arca looks like he's not ready to let this go? The float seems lower than listed and stated.
Nite on bid all morning
this was .0015 in April when Merger talk was in the begining stages, somebody is very short here. Merger about to be anounced and ARCA wants to hold it down. That ask dissapears quickly he showed 120 on supply yesterday and wouldn't fill me at his ask for 2 million shares. This one should blow north with Mr Peacocks follow thru.
sell at the ask if you must leave. this is just getting started. $10,000 only invested yesterday.
may average up here
50 k so far still open with 100k
I think you are right. will go to .005 for a little more
no fills will go to .005 soon just checking
thats me .0045
This hasn't even started , whats this 18k-20k in $ can't wait to see volume great call MOMO wish I knew Friday still good
mine not filling either....004 soon to be gone
my last .004 purchase 350k lets see what they do?
LNGT what a stock very steady looking for a breakout
not filling .004
acting the way lngt did witht he fills, look at that chart..
what is the target with momo and volume?
tested the strength with a 25k sale at the bid and they filled it above the ask... very nice still hoding 250k
It doesn't look like any real resistance after .08 with a little volume. Any thoughts?
Thanks
Level 11 anyone?
LNGT Nice
saving a little powder in case they come back down
That would be nice .75-1.00
this is great fun, have to go to lunch surprise with .08 at 2pm
first real resistance seems to be .08, looks as if we break that then off to teens. Any opinions from chart guys
What are your thoughts on this Art2 as far as price>?
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POTP Very Nice
nesday, October 10, 2007 - 3:49 PM EDT
http://triangle.bizjournals.com/triangle/stories/2007/10/08/daily21.html?t=printable
Raleigh company going public through reverse mergerTriangle Business Journal - by Chris Coletta
Dara BioSciences is taking itself public through a reverse merger with a troubled Boston biotech.
Dara, a privately held biotech headquartered in Raleigh, said it will be acquiring 96.4 percent of the shares of Point Therapeutics (Nasdaq: POTP). The move qualifies as a reverse merger, or the acquisition of a public company by a private company that allows the private company to eschew the long, complex and often expensive process of going through an initial public offering.
Companies often perform reverse mergers when they're having trouble attracting traditional forms of financing, such as venture capital. But Dara BioSciences CEO Richard Franco said his company wasn't having trouble raising money.
"Our balance sheet's in great shape," he said.
Rather, Franco said, Dara thought the drugs in Point Therapeutics' pipeline had some value. Other ways of adding liquidity, such as a VC round, wouldn't have offered access to that pipeline.
"It was an opportunity that presented itself," Franco says. "We pursued it, and we're fortunate to bring the transaction to a close."
Once a promising biotech startup, Point Therapeutics was trading for pennies after the company cut all but a pair of workers and stopped operations after phase III trials of its lung cancer treatment, talabostat, were halted by regulators earlier this year. The company was on pace to be delisted from the Nasdaq Stock Market if it hadn't found a suitor.
Post-merger, the company will go by the name Dara BioSciences. A stock ticker has yet to be determined.
Franco acknowledged that talabostat "didn't do so well" in treating lung cancer. Dara officials think it might have potential in treating chronic lymphocytic leukemia, or cancer in white blood cells, and skin cancer. Dara also is interested in diabetes treatment PT-630, which is in preclinical studies.
Terms of the deal weren't disclosed. But shares of Point Therapeutics closed Tuesday at 5 cents, giving the company a market value of $2 million.
Shares jumped more than 500 percent in trading Wednesday, to 27 cents. By 2 p.m., more than 41 million shares had exchanged hands - higher than the 36 million shares that are freely trading on the public markets, according to Yahoo Finance.
Dara, which has 10 employees, was founded in Destin, Fla. It moved its headquarters to Raleigh in 2005 and closed on $10 million in a $22 million series B round of financing in early 2006.
The company is focused on drugs to treat metabolic diseases, such as diabetes, and central nervous system disorders. Its lead drug candidate, KRN5500, is in phase II trials for the treatment of neuropathic pain, or pain that comes from the nerves.
Franco, for his part, is a veteran of the Triangle life sciences industry. He has been president of Durham biotech LipoScience, leaving the company the same month it abandoned plans for an IPO; prior to co-founding the firm, he was CEO at Morrisville biotech Trimeris.
Dara BioSciences should file a proxy statement with the Securities and Exchange Commission in four to six weeks, Franco says, as a prelude to its reverse merger. The Point Therapeutics acquisition is expected to close in the first quarter of 2008.
this is crazy, interesting to see gap maybe in am ,strong close any opinions?
Shakerzz what happened to ldhg being a gazellleion, looks like it is a large loser