New to Lecere Corporation (LCRE)
Hi all,
I am new to this board and this stock. I am looking for good things to happen in the future. This company has so much potnetial.
Has anyone seen this?
Lecere Discloses Significant Short Sales of Its Stock
Monday 05/03/2010 9:01 AM ET - Globenewswire
Software startup Lecere Corporation (Pink Sheets:LCRE) (www.lecere.com) disclosed today that a significant number of Lecere's free-trading shares were sold short in the month of April. The number of shares sold short in the month of April totaled about 3.4 billion shares. The total number of free-trading Lecere shares in circulation today is about 4.3 billion shares. The number of free-trading shares is not expected to increase significantly in the month of May.
According to Jim Morris, Chairman and CEO of Lecere, "The organization that is short-selling our stock picked a very bad time to apply this strategy, coming as it did on the heels of our announcement of a first customer, completion of our initial POS software product, and beginning of a pilot project. The short sales will have to be covered soon. The only way the organization can likely cover the short sales would be to attempt to buy 3.4 billion Lecere shares over the next few weeks. This should be very interesting to watch."
Morris also said that, "In talking with an attorney about what must be done to remove the caveat emptor flag, we discovered that the full month of May might be required to remove the flag. Investors should rest assured, however, that the flag will be removed just as soon as we can get the paperwork done."
About LecereTM Corporation
Lecere Corporation (Pink Sheets:LCRE) of Portland, Oregon develops and markets Lecere FIRMSTM, an integrated, Web-based suite of interactive restaurant management software that runs on handheld wireless devices. FIRMS helps restaurants reduce their operational costs while enhancing their customers' experiences for increased revenues and profits.
Lecere and FIRMS are trademarks of Lecere Corporation. All other legal marks are the property of their respective owners.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Lecere Corporation
CONTACT: Lecere Corporation
Jim Morris
360-487-6986
