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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.
Hecla Mining Company (NYSE: HL | Quote | Chart | News | PowerRating) a precious metals company, engages in the discovery, acquisition, development, production, and marketing of silver, gold, lead, and zinc. It owns a 100% interest in the Lucky Friday unit located in northern Idaho; a 29.7% interest in the Greens Creek unit located on Admiralty Island, near Juneau, Alaska; and a 100% interest in the San Sebastian unit in the state of Durango, Mexico. The company produces and sells metal concentrates to custom smelters; and unrefined gold bullion bars directly to customers or further refines before sale to precious metals traders. Hecla Mining Company was founded in 1891 and is headquartered in Coeur d'Alene, Idaho. With 127.38 million shares outstanding and 33.08 million shares declared short as of July 2008, the failure to deliver in shares of HL has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 22,761 shares of HL that were failing-to-deliver as of September 25, 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 4.27 million shares declared short as of July 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.
Seaway Valley Capital Corp. Inc. (OTCBB: SWVC | Quote | Chart | News | PowerRating) invests in equity, equity-related, and debt in companies that require expansion capital and in companies pursuing acquisition strategies. The company also seeks investments in leveraged buyouts and restructurings. It primarily focuses to invest in retail, restaurant, media, business services, and manufacturing industries. The company was founded in 2002. It was formerly known as GS Carbon Corporation and changed its name to Seaway Valley Capital Corporation in August 2007. Seaway Valley Capital Corporation is based in Gouverneur, New York. Seaway Valley Capital Corporation operates as a subsidiary of Seaway Capital, Inc. With 997.94 million shares outstanding and 1.71 million shares declared short as of July 2008, the failure to deliver in shares of SWVC has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 65,509,642 shares of SWVC that were failing-to-deliver as of September 28, 2007.
California Oaks State Bank (OTCBB: COSB | Quote | Chart | News | PowerRating) provides various commercial and consumer banking services in California. It offers various business banking solutions, including business checking, money market, business savings, and certificate of deposit accounts. The bank also offers business lending services comprising working capital loans, revolving lines of credit, commercial real estate loans, construction loans, and equipment financing, as well as receivable financing accounts. In addition, California Oaks State Bank provides SBA loans for businesses to purchase or renovate real estate; acquire fixed assets, such as heavy machinery or specialized equipment; borrow working capital for ongoing financing needs; or fund the acquisition of new businesses. Further, it provides online banking, telephone banking, and debit/ATM card services, as well as personal banking and personal lending services. As of June 30, 2007, the bank operated a main office in Thousand Oaks and an office in Simi Valley. The bank was founded in 1997 and is based in Thousand Oaks, California. With 1.46 million shares outstanding and an undisclosed short position, the failure to deliver in shares of COSB has not been resolved and a buy-in is possible.
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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