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Re: virginian post# 8725

Thursday, 08/02/2007 6:09:51 PM

Thursday, August 02, 2007 6:09:51 PM

Post# of 18151
virginian: Thank you for your response to my harshness - and thanks for your kind word, as I do try to avoid attacking shareholders, or making derogatory remarks about anyone (but I'm as successful of that on the RB board as I am here).

Now to the issue of 'NSS.' Yes, it exists, but personally I don't think it is anywhere near the huge problem people are claiming, particularly as concerns USXP.

I know you don't trust the SEC, but I do a whole lot more than you do. The SEC, in their original filing of charges against RA and company pointed out that the ftd at the time they prepared there filing was 'de minimus' and a total of 357,000 shares (something like that). In fact, there is no evidence outside of RA/Gunderson's claims of any significant NSS affecting USXP. His claims have no substance, and despite having stated at least once that I can remember that he has the proof, he has never provided any such proof.

RA began claiming 200B in NSS at a time when his company hadn't gotten to where it had traded as much as 50B in its history. How do you have 4 times the actual shares traded in NSS? You can't.

Again, there is absolutely no evidence of an NSS problem with USXP other than the claims of RA/Gunderson. You do know that Gunderson, in his sworn statement to the court in opposition to the summary judgement (before the SEC won that judgement) that he thought their could be as many as a trillion share NSS postion in USXP, and that several times the daily trading had come in at 72 (74?) times the outstanding shares?

I hope I'm wrong (well, not until RA/Gunderson are gone) for your sake, but nobody can point to any evidence of any significant NSS position, not even RA and Gunderson. And there has been no evidence of any wholesale covering of NSS positions in any of the companies that claim this problem is ruining them.

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