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Regulation SHO took effect January 3, 2005, and provides a new regulatory framework governing short selling of securities. It was designed with the objective of simplifying and modernizing short sale regulation and providing controls where they are most needed. At the conclusion of each settlement day, data is provided on securities in which: 1) there are at least 10,000 shares in aggregate failed deliveries for the security for five consecutive settlement days, and 2) these failures constitute at least 0.5% of the issuer's total shares outstanding. Regulation SHO mandates that, if a clearing agent has had a fail-to-deliver position for 13 consecutive settlement days, that clearing agent, and the broker/dealer it clears for, must purchase securities to close out its fail to deliver position.
Blockbuster Inc. (NYSE: BBI | Quote | Chart | News | PowerRating) together with its subsidiaries, operates and franchises entertainment-related stores in the United States and internationally. It offers pre-recorded videos, as well as video games for in-store rental, sale and trade, and also sells other entertainment-related merchandise. The company also offers rental and retail movie entertainment through the Internet and by mail in the United States. Blockbuster, Inc. operates its stores under the BLOCKBUSTER brand name. The company also operates stores under the XTRA-VISION brand name in the Republic of Ireland and Northern Ireland, as well as operates freestanding and store-in-store game locations under the GAME RUSH brand in Canada, Italy, Mexico, and Denmark. As of January 6, 2008, it operated approximately 7,800 stores in the United States, its territories, and 21 other countries. The company was founded in 1982 and is headquartered in Dallas, Texas. With 197.26 million shares outstanding and 54.34 million shares declared short as of May 2008, the failure to deliver in shares of BBI has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 271,772 shares of BBI that were failing-to-deliver as of September 28, 2007.
Cohen & Steers Inc. (NYSE: CNS | Quote | Chart | News | PowerRating) together with its subsidiaries, manages high-income equity portfolios in the United States. The company specializes in the United States real estate investment trusts, international real estate securities, preferred securities, utilities and listed infrastructure securities, and large cap value stocks. It operates in two segments, Asset Management and Investment Banking. The Asset Management segment manages closed-end and open-end mutual funds, and institutional separate accounts. This segment also offers a portfolio of consulting and other services, and investment services. The Investment Banking segment provides mergers and acquisition advisory services comprising the purchase or sale of public or private companies or their business units; corporate restructuring advisory services, such as advice with respect to debt and lease restructurings, recapitalization transactions, exchange offers, and bankruptcy advisory services; and capital raising services as agent and underwriter for the sale of public and private debt, preferred, equity linked, and equity securities to companies in the real estate and real estate intensive businesses, including healthcare. The company's distribution network includes brokerage firms, registered investment advisors, and institutional investors. Cohen & Steers, Inc. was founded in 1986 and is based in New York, New York. With 41.51 million shares outstanding and 4.3 million shares declared short as of May 2008, the failure to deliver in shares of CNS has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 16,636 shares of CNS that were failing-to-deliver as of September 26, 2007.
BPI Energy Holdings Inc (AMEX: BPG | Quote | Chart | News | PowerRating) through its subsidiary, BPI Energy, Inc., engages in the acquisition, exploration, development, production, and sale of coalbed methane (CBM) properties in the United States. It owns approximately 500,000 acres of CBM rights in the Illinois Basin. The company also has interests in Southern Illinois Basin project covering approximately 10,000 acres in the southern part of the Illinois Basin; the Northern Illinois Basin project covering 353,531 acres in Montgomery, Shelby, Christian, Fayette, and Macoupin Counties in Illinois; and the Western Illinois Basin project covering 135,948 acres in Clinton, Washington, Marion, and Perry Counties in Illinois. As of July 31, 2007, it had 16,274 million cubic feet of total estimated proved developed and undeveloped reserves. The company was founded in 1980 and is headquartered in Solon, Ohio. With 73.61 million shares outstanding and 11,000 shares declared short as of May 2008, the failure to deliver in shares of BPG has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 47,924 shares of BPG that were failing-to-deliver as of September 26, 2007.
Lucas Energy Inc. (AMEX: LEI | Quote | Chart | News | PowerRating) through its subsidiary, Lucas Energy Resources, Inc., engages in the acquisition and operation of oil and gas properties in Texas. The company operates 41 separate oil and gas leases, as well as owns and operates 31 producing oil and gas wells in Texas. Its property Griffin Lease comprises approximately 498 acres in Gonzales, Texas. As of March 31, 2007, Lucas Energy had approximately 1,582,540 Bbls of proved oil reserves; and 41.53 MMcf of proved gas reserves. The company was founded in 2004 and is based in Houston, Texas. With 10.21 million shares outstanding and 400 shares declared short as of May 2008, the failure to deliver in shares of LEI has not been resolved and a buy-in is imminent.
Pyramid Oil Company (AMEX: PDO | Quote | Chart | News | PowerRating) engages in the exploration, development, and production of crude oil and natural gas. It holds oil and gas property interests primarily in California, as well as in New York, Wyoming, and Texas. The company sells oil and gas primarily to crude oil purchasers, refineries, or pipeline companies. As of January 1, 2008, it had proved developed and undeveloped reserves of 806 million barrels of crude oil and 331 million cubic feet of gas. The company was founded in 1909 and is based in Bakersfield, California. With 3.74 million shares outstanding and 77,800 shares declared short as of May 2008, the failure to deliver in shares of PDO has not been resolved and a buy-in is imminent.
Macatawa Bank Corp. (NASDAQ: MCBC | Quote | Chart | News | PowerRating) operates as the holding company for Macatawa Bank, which provides various commercial and personal banking services. Its deposit products include checking accounts, savings accounts, NOW accounts, time deposits, money market savings accounts, certificates of deposit, and interest and noninterest bearing demand accounts. The company's loan portfolio comprises residential real estate, multifamily and commercial real estate, construction and development, and commercial business loans, as well as consumer loans, including automobile loans, home equity lines of credit and installment loans, home improvement loans, deposit account loans, and other loans for household and personal purposes. It also offers cash management, safe deposit boxes, traveler's checks, money orders, trust services, automated teller machines, Internet and telephone banking, and debit cards. In addition, Macatawa Bank provides personal trust services, including financial planning, investment management, trust and estate administration, and custodial services; and retirement plan services, including provision of various qualified retirement plans, such as profit sharing, 401(k)s, and pension plans. Further, the company offers brokerage services, including discount brokerage, personal financial planning, and consultation regarding mutual funds. As of December 31, 2007, it operated 26 branch offices, and a lending and operational service facility in Kent County, Ottawa County, and northern Allegan County, Michigan. Macatawa Bank Corporation was founded in 1997 and is headquartered in Holland, Michigan. With 17.02 million shares outstanding and 1.61 million shares declared short as of May 2008, the failure to deliver in shares of MCBC has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 62,136 shares of MCBC that were failing-to-deliver as of September 27, 2007.
About BUYINS.NET
WWW.BUYINS.NET is a service designed to help bonafide shareholders of publicly traded US companies fight naked short selling. Naked short selling is the illegal act of short selling a stock when no affirmative determination has been made to locate shares of the stock to hypothecate in connection with the short sale. Buyins.net has built a proprietary database that uses Threshold list feeds from NASDAQ, AMEX and NYSE to generate detailed and useful information to combat the naked short selling problem. For the first time, actual trade by trade data is available to the public that shows the attempted size, actual size, price and average value of short sales in stocks that have been shorted and naked shorted. This information is valuable in determining the precise point at which short sellers go out-of-the-money and start losing on their short and naked short trades.
BUYINS.NET has built a massive database that collects, analyzes and publishes a proprietary SqueezeTrigger for each stock that has been shorted, www.buyins.net/squeezetrigger.pdf. The SqueezeTrigger database of nearly 2,000,000,000 short sale transactions goes back to January 1, 2005, and calculates the exact price at which the Total Short Interest is short in each stock. This data was never before available prior to January 1, 2005, because the Self Regulatory Organizations (primary exchanges) guarded it aggressively. After the SEC passed Regulation SHO, exchanges were forced to allow data processors like Buyins.net to access the data.
The SqueezeTrigger database collects individual short trade data on over 7,000 NYSE, AMEX and NASDAQ stocks and general short trade data on nearly 8,000 OTCBB and PINKSHEET stocks. Each month the database grows by approximately 50,000,000 short sale transactions and provides investors with the knowledge necessary to time when to buy and sell stocks with outstanding short positions. By tracking the size and price of each month's short transactions, BUYINS.NET provides institutions, traders, analysts, journalists and individual investors the exact price point where short sellers start losing money.
All material herein was prepared by BUYINS.NET, based upon information believed to be reliable. The information contained herein is not guaranteed by BUYINS.NET to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. BUYINS.NET is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on or mentioned herein. BUYINS.NET may receive compensation in cash or shares from independent third parties or from the companies mentioned.
BUYINS.NET affiliates, officers, directors and employees may also have bought or may buy the shares discussed in this opinion and may profit in the event those shares rise in value. Market commentary provided by Thomas Ronk.
BUYINS.NET will not advise as to when it decides to sell and does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission.
You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and BUYINS.NET undertakes no obligation to update such statements.
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