RLAB Discloses Apparent Short Sales of Its Stock
ShareretweetEmailPrintCompanies:REAL AMERICAN BRANDS Related Quotes
Symbol Price Change
RLAB.PK 0.0119 0.0000
{"s" : "rlab.pk","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""} Press Release Source: Real American Brands, Inc. On Friday July 9, 2010, 10:27 am EDT
NEW YORK, NY--(Marketwire - 07/09/10) - Real American Brands, Inc., a non-reporting public company (Pinksheets:RLAB - News) disclosed today that it believes a significant number of its free-trading shares were sold short in the marketplace on Friday, July 2nd.
According to Doug Newton, CEO of RLAB, "we are in the process of gaining proof that the day's high volume of 9 million shares was the result of aggressive short-selling which not only depressed RLAB's stock price, but gives the appearance that a large number of shares were dumped into the market following the company's release of news of July 1st and 2nd."
Newton said "one early report indicates several million shares were shorted that day while the facts are that I know of no single shareholder, or company or group of shareholders who sold anywhere near this amount of stock on July 2nd; moreover, there has been no issuance of new stock above our current level of 165 million shares.
"Short selling -- to the degree that it continues to go unchecked-- can have a devastating impact on a company's image, credibility and prospects for growth and prosperity", said Newton, "and all NASD broker dealers must be called to task to report total "short" positions in all customer and proprietary firm accounts in all publicly traded equity securities, especially following the release of public news from smaller Pink Sheets companies like Real American Brands, Inc."
To quell rumors of a major stock promotion push, Newton said in the last 2+ years, the company has had no discussions or made any agreements with individuals or firms to promote RLAB. "In fact, the company has turned down offers of cash in exchange for issuances of free stock, because we are committed to holding RLAB's share base at a level between below 200 million shares."
Newton said he believes the company's growing stable of intellectual property assets and 31 year track record with the Billy Martin's brand should command a market value of a minimum of $20 million dollars. "At a maximum level of 200 million shares, this would suggest a share price of 10 cents per share, or ten times our present one penny price."
Newton said he will use all of his authority as CEO to further investigate the short selling of RLAB stock, and publicly report to shareholders the results of
Market Data 
Markets 
AI
