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WNYN – great short squeeze possible on Monday.

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mike306oh   Saturday, 06/14/08 01:34:45 PM
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WNYN – great short squeeze possible on Monday. See why

http://investorshub.advfn.com/boards/board.aspx?board_id=8017

Fact #1: On June 11 Buyins.net removed WNYN from the naked short shares list, along with the statement: “With 268.36 million shares outstanding and 27,400 shares declared short as of May 2008, there is no longer a failure to deliver in shares of WNYN” (see Pink Sheets news).

Fact #2: As of today, shortsqueeze.com shows a huge increase (4532% over the 4 days old Buyins.net data, or from 27.4K shares to 1.27 MM shares) in shorted shares:

Short Interest (Shares Short): 1,269,300
Days To Cover (Short Interest Ratio): 0.4
Short Percent of Float: 0.86 %
Short Interest - Prior: 27,400
Short % Increase / Decrease: 4532.48 %

http://shortsqueeze.com/?symbol=wnyn&submit=Short+Quote%99

With just a little bit of help, “the mother of all short squeeze” can occur here on Monday. Because of the above, and the additional facts below, the MOASS play has a very good chance to reward well the early players.

Fact # 3: On June 12, a nice increase in S/P took pace after the company announced: “that it has prepaid in full the convertible debenture issued by previous management to Cornell Capital Partners LP (now YA Global Investments). This will immediately cease the harmful dilution to the Company's capital structure previously associated with the periodic conversions of the debenture.” This news should have continue to move the P/S up, but obviously heavy shorting (toward the EOD on June 12, and especially on June 13) killed the upward move.

Fact #4: From the last 10-Q on May 14: “Net income for the quarter grew 353% year over year to $119,615 from $26,405," and most importantly: “The quarter ending March 31, 2008 marked the sixth consecutive quarter of positive net income. The company's cash balance grew 21% from the previous quarter to $779,583 and working capital almost doubled from the previous quarter, from $210,193 to $400,205. The company's total debt was reduced almost 14% from the previous quarter.”

Fact # 5: From May 19 NanoCap Gems Newsletter:

http://www.nanocapgems.com/featured_profile.htm

Mike


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