NEW YORK, NY / ACCESSWIRE / May 11, 2015 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced that it has issued an update note on OxySure Systems, Inc. (OXYS).
The update note is available here: OXYS Update Note. SeeThruEquity is an approved equity research contributor on Thomson First Call, Capital IQ, FactSet, and Zack's. The report will also be available on these platforms. We also contribute our estimates to Thomson Estimates, the leading estimates platform on Wall Street.
OxySure provides short duration / emergency medical oxygen and respiratory solutions for mass market use. Using patented technology that combines two dry, inert powders to create medical oxygen, the company manufactures and markets the OxySure Model 615, a portable emergency oxygen system that has been approved by the FDA for sale over the counter without a prescription.
Large short position in OxySure shares exposed
We have become aware of significant short selling activity in the stock of OxySure Systems over the last several months. According to data compiled by Buyins.net, between November 18, 2014 and April 30, 2015, there were approximately 5.7mn shares sold short in OxySure stock. Considering that the float in OxySure Systems is just 7.65mn of the total 29.6mn shares outstanding, we find this data eye-opening.
Indeed, the data from Buyins.net suggests that nearly 3/4 of the float has been sold short from November 18, 2014, through April 30, 2015. During this time period, short sales activity represented 36% of the total volume of 15.9mn shares traded. If a short position of this magnitude were outstanding in its entirety then it would take more than two months of buying to cover at the current average daily trading volume, which averages less than 100,000 shares per day. We note that the company issued a positive update on May 5, 2015, stating that 2015 will be a "watershed year" for the company.
Further highlights of the note are as follows:
