Thresher Industries, Inc. (THRR)

[SteveF]

the interview that CEO Tom Flessner did with the Business Journal

That wasn't an interview, Business Journal quoted a THRR PR.

I mean the news is preposterous enough here already, why the need to lie further about it?

Hanford's Thresher Industries considers sale
Written by Business Journal staff
Friday, 12 March 2010 07:16

Thresher Industries, a Hanford-based manufacturer of aluminum die-cast machine parts, announced its board of directors is entertaining an offer to sell the company.

The board received a letter of intent to purchase Thresher Industries on March 9. A news release doesn't name the prospective buyer or the terms of the offer, but calls the package "above the current market price range" and says the board was "very favorable towards the proposal.

The board has asked its legal counsel to see whether or not it can accept the offer outright or convene a shareholder meeting for a vote. The results of the investigation are expected to be released March 15.

Thresher Industries is traded over-the-counter under the symbol THRR. The company, incorporated in 2005, has an estimated market capitalization (total value of its stock) of $847,545 as of March 11, according to Pink Sheets, which tracks over-the-counter stocks. It has about 1.4 billion outstanding shares currently trading at $.0006, or $3 per 5,000 shares.

In addition, Thresher Industries President and CEO Tom Flessner addressed a suspected instance of someone short selling his companies stock. Short selling is a practice whereby traders can make a profit based on a stock depreciating in value. It works by someone borrowing shares from a broker and selling them. The seller then buys the same securities back at a presumably lower value, returning them to the broker.

According to the news release:

"In a separate matter, Mr. Flessner commented, "It has come to our attention recently that there may have been a short sell of 661 million shares of our common. We do not condone this type of activity and remain committed to building value for our loyal shareholders."

Last Updated on Friday, 12 March 2010 08:03