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Monday, May 21, 2007 3:34:31 PM
The company put out a statement and a NOBO is going to be done. ZYTO Corp. Issues Statement Regarding Stock Price
Friday May 18, 10:34 pm ET
Today it's up to $2.85 from below $2/share.
OREM, Utah--(BUSINESS WIRE)--ZYTO Corp. (Pink Sheets:ZYTC - News) C.E.O. Dr. Vaughn R Cook has issued the following statement:
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"Last week ZYTO's (tm) stock price fell precipitously. It appeared this was almost entirely due to short selling. Companies traded in the Pink Sheets are disadvantaged because firms who sell short are not required to report their short position and are not required to cover. Any requirement to the contrary is easily circumvented. This means companies like ZYTO are, to some degree, swimming unprotected with the sharks.
"Sales in May are strong, and we expect to set a new sales record for the company this month. ZYTO is expanding in every way and we remain a strong viable enterprise."
Selling short is a common practice. Investors can make money by selling today at the current price (selling short) and then buy it back after the price goes down (covering the short position). Stocks that sell in the pink sheets, like the ZYTC stock, are vulnerable to this practice because short positions are not reported.
This allow brokerages to essentially carry a large short position indefinitely, without ever paying for it. It means a brokerage can sell short, not report it, and never have to pay for that short position.
"We were attacked by shorters. We have dealt with shorters all along, but recently they became more aggressive when they saw our stock above $5, which was like blood in the water for sharks," said Cook.
The company began a new marketing effort in January, which involves a strategic alliance with key nutriceutical companies, referred to by ZYTO as SAM's (Strategic Alliance Members). ZYTO offers the healthcare professionals who are customers of the SAMs the opportunity to receive, be trained on, and evaluate ZYTO technology for a 30-day period, free of any charge or obligation to purchase.
"We found that most practitioners who take advantage of the SAM opportunity discover that our technology is an indispensable addition to their practice," explained Cook. The marketing strategy has proven to be very successful and is bring a rapid increase in sales that has doubled the size of the company.
Cook has received a patent pending on the technology that enables computers and human bodies to communicate. Cook has owned and operated healthcare facilities, specializing in holistic health. This clinical background has allowed him to develop equipment from the perspective of a practicing health care professional, which combined with an extensive background in business, has resulted in technology that is clinically effective and financially practical. He has developed two computer-based systems used by health professionals around the world.
The company maintains a web site at http://www.ZYTO.com
About ZYTO Corp.
ZYTO Corp. was founded by Dr. Vaughn Cook, OMD. The company provides computerized bio-technology equipment and software with clinical applications that include obtaining information from the human body to assist healthcare practitioners to make better decisions.
Forward Looking Statement:
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports the Company may file.
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