I just sent this email to Cashnow. It is time for them to step up and do something about their share price...
cashnowcorp@cashnow.com
Hello,
I am emailing you on behalf of many investors who are invested in your company and are seriously concerned with the recent share price erosion. I have seen correspondence from your company stating that there are no shares being sold into the market and that your company is concerned about short sellers attacking your stock price. Well this is what we as a collective group think you should do. A company called Playstar is battling this same battle and this is their latest press release concerning this matter. We strongly urge you to read this release carefully and then look to see what that companies share price as done recently. If your company is truly concerned about the shorting and share price erosion, then now is the time to step and do something about it.
PLYCF Playstar updates shareholders on NOBO list and immediate steps towards addressing
large discrepancies
TORONTO, Nov. 10 /PRNewswire-FirstCall/ - Playstar Corporation is pleased
to announce that it has received its NOBO( Non-Objecting Beneficial Owners)
and compared it to DTC list and transfer agent shareholders lists. Initial
consensus from advisors is to order the OBO (Objecting Beneficial Owners) to
finalize total amount of shares owned by all shareholders to give a realistic
number on suspected large short position.
The company also would like to state that the current shares outstanding
are 77,933,246 fully diluted. The company has no plans of financing or any
dilution of its share capital in the near future except for a possible
acquisition or major joint venture. The transfer agent Transfer Online has
been notified by the company in writing to divulge total outstanding shares to
any investor who calls.
The company has also been advised to possibly consider requesting a new
NASD symbol and, most importantly, subject to meeting all NASD requirements,
INSTITUTING A MANDATORY RECALL OF THE CURRENT PLYCF CERTIFICATES TO BE
REPLACED BY NEW CERTIFICATES WITH THE NEW NASD SYMBOL AND A NEW CUSIP NUMBER.
The corporate advisors and legal parties have agreed that we must take
action against suspected naked short selling of its, or anyone's securities in
the marketplace. An OBO list has been ordered and will be here sometime next
week, along with an updated NOBO list. The company will take action necessary
to protect its shareholders' investment.
Stewart Garner, president of Playstar states, "It's an exciting time on
the corporate side of the business with revenues growing rapidly and joint
ventures coming together in timely manners. I have spoken with many
shareholders and appreciate their support and together we can add value for
all shareholders. I'm asked daily how many shares were short and through our
initial due diligence it appears to be in the 10's of millions but will wait
until all data is in and analyzed before giving verified numbers. The company
would also consider a mandatory recall of certificates in a name change with
CUSIP change as seen very successful by another company with similar trading
patterns. I look forward to updating the public in the near future on some
exciting developments on the corporate side."
The company would also like to advise the shareholders to ensure their
accounts have not lent out the stock without their knowledge and ask their
brokers how to prevent the loaning of the stock to potential short sellers.
The corporation is focusing all of its time and energies on building a
solid business with tremendous revenue growths and adding on new markets to
distribute its current short code programs. We believe that a solid business
will deter any further suspected naked selling.
This press release contains forward-looking statements involving risks and
uncertainties including statements regarding the Company's future performance.
Such statements are based on management's current expectations and are subject
to certain factors, risks and uncertainties that may cause actual results,
events and performance to differ materially from those referred to or implied
by such statements. In addition, actual future results may differ materially
from those anticipated, depending on a variety of factors which include, but
are not limited to, our ability to leverage our technology, manage our growth,
protect our intellectual property rights, attract new customers and general
economic conditions affecting consumer spending, including uncertainties
relating to global political conditions, such as terrorism. Readers are
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. The Company does not intend to update
any of the forward-looking statements after the date of this release to
conform these statements to actual results or to changes in its expectations,
except as may be required by law.
SOURCE Playstar Corporation
AI
