Efficacy, Inc. Corporate Update
Efficacy Announces Corporate Update Concerning Trading of Company Shares
LAS VEGAS, Jul 19, 2005 (PRIMEZONE via COMTEX) -- The Buffalo Group/Efficacy (Pink Sheets:EFCY), specializing in homeland security products, regrets to announce the release of our previous Investor Relations personnel. Due to recent inquiries by various shareholders, it has come to our attention that our drop in share price may be due to selling by various individuals who to date may have sold shares into the marketplace without providing the goods and services offered to the company.
In complying with Regulation FD (Fair Disclosure), The Buffalo Group/Efficacy would like to announce that our previous IR is no longer the contact person for our company.
The Buffalo Group/Efficacy is looking into any and all legal means to recover these shares or to legally cancel these shares under any and all applicable securities laws available. The Buffalo Group/Efficacy would like to notify all brokerages and market makers that such a cancellation could incur a short or naked short position involving these shares. A shareholder of our company notified us of possible selling by two market makers who appeared to be trading our stock "ex-clearing". The Buffalo Group/ Efficacy would like to remind all market makers that our trades are "matched trades" until we are able to file a 15c211 form allowing market makers to make a market. The low volume should not and could not justify such a large drop in share price.
Specifically, The Buffalo Group/Efficacy would like to remind market makers they must have inventory to sell or must entice sellers to sell their holdings in order to create inventory and brokerages filling EFCY buy orders, market makers representing the ask on Efficacy stock must have shares in hand to sell. The Customer Protection Rule protects companies from excessive share selling beyond inventories.
