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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.
Community Bankers Trust Corporation (AMEX: BTC | Quote | Chart | News | PowerRating) is a bank holding company and a financial holding company headquartered in Glen Allen, Virginia. Community Bankers Trust Corporation, a bank holding and financial holding company, through its subsidiaries, TransCommunity Bank, N.A. and Bank of Essex, provides various banking services. TransCommunity Bank, N.A. located in Richmond, Virginia operates through four divisions: Bank of Powhatan, Bank of Goochland, Bank of Louisa, and Bank of Rockbridge; and Bank of Essex located in Richmond, Virginia operates through seven branch locations. Community Bankers Trust Corporation, formerly known as Community Bankers Acquisition Corp., was founded in 2005 and is headquartered in Great Falls, Virginia. With 9.38 million shares outstanding and 133,730 shares declared short as of May 2008, the failure to deliver in shares of BTC has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 19,756 shares of BTC that were failing-to-deliver as of September 28, 2007.
Guaranty Financial Group Inc. (NYSE: GFG | Quote | Chart | News | PowerRating) through its subsidiary, Guaranty Bank, provides commercial and retail banking products and services in the United States. The company offers various commercial banking services to business and commercial customers, including financing for commercial real estate, multifamily and homebuilder construction, mortgage warehouse financing, senior housing, and middle market businesses and companies engaged in the energy industry. It provides lines of credit; working capital loans; loans for acquisition, expansion, and development facilities; borrowing base loans; real estate construction loans; regional and national homebuilder loans; term loans; equipment financing; letters of credit; and other loan products. The company lends to corporations, regional companies, oil and gas producers, real estate developers, mortgage lenders, manufacturing and industrial companies, and other businesses. Guaranty Bank also offers a range of retail banking services to consumers and small businesses, including deposits, such as savings, checking, interest-bearing checking, money-market, and certificates of deposit; loans to individuals for personal, family, and household purposes, including secured and unsecured installment and term loans, home equity loans, and home equity lines of credit; and non-deposit investment products, such as mutual funds and variable annuity products through a non-affiliated registered broker-dealer and through licensed agents. The company, formerly known as Temple-Inland Financial Services, Inc., was founded in 1938 and is based in Austin, Texas. Guaranty Financial Group operates independently of Temple-Inland as of December 28, 2007. With 37.3 million shares outstanding and 8.37 million shares declared short as of May 2008, the failure to deliver in shares of GFG has not been resolved and a buy-in is imminent.
Emmis Communications Corp. (NASDAQ: EMMS | Quote | Chart | News | PowerRating) a diversified media company, together with its subsidiaries, operates as a radio broadcasting company in the United States. The company also operates an international radio business; operates a network of radio stations in the Flanders region of Belgium; owns a national radio network in Slovakia; and owns 59.5% interest in a national radio station in Hungary and control interests in 3 national radio networks in Bulgaria. In addition, it publishes various city and regional magazines, including Texas Monthly, Los Angeles, Atlanta, Indianapolis Monthly, Cincinnati, Orange Coast, Tu Ciudad, and Country Sampler and related magazines. Further, the company engages in various businesses, such as Web site design and development, consulting, and broadcast tower leasing, as well as operating a news information radio network in Indiana. As of February 29, 2008, it owned and operated 7 FM radio stations in New York, Los Angeles, and Chicago; and 14 FM and 2 AM radio stations in St. Louis, Austin; and Indianapolis and Terre Haute, Indiana. Emmis Communications Corporation was founded in 1981 and is based in Indianapolis, Indiana. With 36.15 million shares outstanding and 3.17 million shares declared short as of May 2008, the failure to deliver in shares of EMMS has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 26,823 shares of EMMS that were failing-to-deliver as of September 28, 2007.
UCBH Holdings Inc. (NASDAQ: UCBH | Quote | Chart | News | PowerRating) operates as the bank holding company for United Commercial Bank, which provides personal and commercial banking services to small-and medium-sized businesses, business executives, professionals, and other individuals. It primarily engages in generating deposits and originating loans. The company's deposit products include business and personal checking accounts, NOW accounts, savings and money market accounts, time deposits, and individual retirement accounts. Its lending portfolio comprises commercial real estate loans, construction loans, commercial loans, accounts receivable and inventory loans, short-term trade finance facilities, loans guaranteed by the United States Small Business Administration, multifamily real estate loans, residential mortgage loans, and home equity lines of credit. The company also provides merchant bankcard, cash management, private client, brokerage investment products, and online banking services, as well as offers trade finance facilities for customers involved in the import and/or export of goods principally between Asia and the United States. In addition, UCBH Holdings sells fixed and variable annuities, life insurance, and covered options. As of December 31, 2007, it had 51 branches in California, 5 in Atlanta metropolitan area, 3 in the Boston metropolitan area, 1 branch in Houston, 8 in the New York metropolitan area, 2 in the Seattle metropolitan area, and branches in Hong Kong and China, as well as representative offices in Shanghai and Shenzhen, China and Taipei, Taiwan. The company was founded in 1974 and is headquartered in San Francisco, California. With 110.46 million shares outstanding and 24.27 million shares declared short as of May 2008, the failure to deliver in shares of UCBH has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 50,673 shares of UCBH that were failing-to-deliver as of September 26, 2007.
Genta Inc. (OTCBB: GNTA | Quote | Chart | News | PowerRating) operates as a biopharmaceutical company with a diversified product portfolio that is focused on delivering products for the treatment of patients with cancer. Its research portfolio consists of two programs, DNA/RNA Medicines and Small Molecules. The company's lead compound from its DNA/RNA Medicines program is Genasense? (oblimersen sodium) injection that is designed to block the production of a protein, known as Bcl-2, which is a fundamental cause of the inherent resistance of cancer cells to anticancer treatments, such as chemotherapy, radiation, and monoclonal antibodies. Genta Incorporated is recruiting patients to the AGENDA Trial, a global Phase III trial of Genasense in patients with advanced melanoma. Its lead drug in its Small Molecule program is Ganite? (gallium nitrate injection), which is marketed in the United States for the treatment of symptomatic patients with cancer-related hypercalcemia that is resistant to hydration. The company also develops G4544, an oral formulation of the active ingredient in Ganite, which entered clinical trials as a potential treatment for diseases associated with accelerated bone loss. In addition, it is developing tesetaxel, an orally absorbed, semi-synthetic taxane that is in the same drug class as paclitaxel and docetaxel. The company was founded in 1988 and is based in Berkeley Heights, New Jersey. With 36.74 million shares outstanding and 1.44 million shares declared short as of May 2008, the failure to deliver in shares of GNTA has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 239,625 shares of GNTA that were failing-to-deliver as of September 28, 2007.
Falcon Natural Gas Corp. (OTC: FNGC | Quote | Chart | News | PowerRating) an exploration stage company, engages in the exploration of natural gas. It holds a 100% net working interest and a 70% net revenue interest on Starr County Property leases; and a 100% working interest and the 70% net revenue interest in oil, gas, and mineral leases in St. Mary Parish, Louisiana known as Wyandotte Property. The company entered in to agreements to acquire 12.5% working interest from Blue Ridge in the initial well drilled on Prospect 107 located in Beauregard Parish, Louisiana; and a 47% working interest in certain oil, gas, and mineral leases in DeWitt County, Texas. It operates in Texas and Louisiana. The company also entered into participation agreements to acquire a 75% working interest in Pecan Station North Prospect in Tom Green County, Texas; a 75% working interest in Hollins Prospect in Nolan County, Texas; a 50% working interest in Brookshire Weido Prospect in Waller County, Texas; a 12% working interest in Norman Prospect in Bee County, Texas; a 12.5% working interest in South Wilburton Prospect in Latimer County, Oklahoma. Falcon Natural Gas was incorporated in 2004 and is headquartered in Houston, Texas. With 66.11 million shares outstanding and 16,800 shares declared short as of May 2008, the failure to deliver in shares of FNGC has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 15,100 shares of FNGC that were failing-to-deliver as of September 11, 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 2,050,000,000 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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