Tree Top Industries, Inc. Negatively Impacted by Naked Short Selling
NEW YORK, Jan. 11, 2011 (GLOBE NEWSWIRE) -- The common stock of Tree Top Industries, Inc. ("Tree Top") (OTCBB:TTII - News) has experienced a rash of naked short selling, verified according to the FINRA website, which keeps track of short positions on a daily basis. http://regsho.finra.org/FORFshvol20110110.txt
Kathy Griffin, President of Tree Top, stated: "It has come to our attention that there has been unusual activity regarding Tree Top stock and the short positions according to the FINRA website. We believe that a former shareholder has been attempting, these last few days, to clear an illegal, cancelled certificate with our transfer agent, who immediately rejected the request out of hand. Tree Top, together with our transfer agent, is exploring the possibility of implementing a general "stop order", under UCC Article 8, Part 3, for all the securities associated with this particular former shareholder. Ultimately, none of those securities will clear. In the meantime, we wanted to inform our current group of shareholders and investors, that Tree Top remains on point with our business plan, as disclosed before in previous press releases and SEC filings."
Tree Top Industries, Inc.'s subsidiaries and affiliates include clean-tech energy, bio-energy, and green energy solutions and health care companies. Tree Top is an early stage company that is animating its subsidiaries and affiliates concurrently, as it simultaneously moves to acquire companies that are in various stages of development. www.ttiiob.com
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.