To all individual investors, the following was taken from a PR from GlobeTel Communications Corp. Timothy Huff, Chief Executive Office. I hope there is not a problem copy and reposting it here but I believe it to be of great value and can help what is going on today.
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"shorts" have been able to get "borrow" on our shares due to shareholders who hold their shares in accounts other than "cash" accounts at their brokerage firms. When they hold them in other types of accounts, (margin, even though they did not margin the shares), the brokerage firm will often, without the knowledge or consent of the true owner, "rent" the shares to those that desire to "short" the shares. This is legal and they can cover their sale with the shares that they "rented" from the brokerage firm. The brokerage firm charges a fee to these borrowers and that is a profit center for them. The only way to combat this, is to instruct, in writing, that your shares be held in a "cash" account.
Everyone please contact your brokerage firm asap.
