UNQT should be running away up to 1 cent by now.
Heres the reason why it isnt ?
Union Equity Inc. (Pink Sheets:UNQT) encourages shareholders to request as much of their stock as possible be delivered to them in certificate form. This is being done to make it more difficult for market players to short the company's stock.
"I don't believe in the concept of shorting, I never have," said Union Equity CEO Michael Anthony. "If you are going to speculate in the market you should do so based on the belief that smaller business entities are going to become larger, more financially successful companies. The concepts of economic growth and entrepreneurial innovation are the backbone of the American way of life. Personally, I would never bet on the demise of any company."
According to a recent article by journalist Joel S. Hirschhorn, "Company stocks can be sold short. Shares are borrowed from brokers who actually have them (or can get them), transferred to the purchaser, and then returned to the lender by the short seller. The short seller sees a relatively high price in the stock market and bets that the price will decline significantly. Then the stock can be bought and returned to the original lender within three days. But `naked shorting' is different. No actual stock is borrowed and delivered to the purchaser, even though the purchaser pays the short seller. The investor believes that real stock has been delivered to their account. Naked short selling has been illegal since 1933, but it has still flourished."
Union Equity requests that shareholders contact their broker/dealers and request that their shares of company stock be delivered to them in certificate form in order to make it more difficult for short-sellers to borrow stock. Theoretically, if there are fewer shares out there for short-sellers to borrow, it makes it harder for them to achieve their objective.
In 2004 Regulation SHO (for "short") was promulgated in an attempt to curtail naked shorting.
In addition, Union Equity has recently approved a 600% dividend in the form of a six-for-one forward split of its common stock issued and outstanding as of 4/27/05 (the record date). Odd lots shall be rounded up. Shareholders of record on 4/27/05 will receive six additional shares for every one share of common stock owned on that date.
