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BUYINS.NET: ARQL, CMRG, COINW, FCEL, MHGC, MHLD Have Also Been Removed From Naked Short List Today

Wed. July 30, 2008; Posted: 09:26 AM
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Jul 30, 2008 (M2 PRESSWIRE via COMTEX) -- MHGC | Quote | Chart | News | PowerRating -- BUYINS.NET, www.buyins.net, announced today that these select companies have been removed from the NASDAQ, AMEX and NYSE naked short threshold list: ArQule Inc. (NASDAQ: ARQL), Casual Male Retail Group Inc. (NASDAQ: CMRG), Converted Organics Inc. Warrants (NASDAQ: COINW), FuelCell Energy Inc. (NASDAQ: FCEL), Morgans Hotel Group Co. (NASDAQ: MHGC), Maiden Hldgs Ltd (NASDAQ: MHLD). For a complete list of companies on the naked short list please visit our web site. To find the SqueezeTrigger Price before a short squeeze starts in any stock, go to www.buyins.net.

ArQule Inc. (NASDAQ: ARQL | Quote | Chart | News | PowerRating) a clinical-stage biotechnology company, engages in the research and development of cancer therapeutics. Its clinical-stage testing products include ARQ 197, an orally administered inhibitor of the c-Met receptor tyrosine kinase; ARQ 501, an intravenously administered novel activator of the cell's DNA damage response mechanism mediated by the E2F-1 transcription factor; and ARQ 171, an intravenously administered second generation activator of E2F-1. The company also provides ARQ 761, a second-generation E2F-1 compound to kill cancer cells while sparing normal cells through the direct activation of DNA damage response/checkpoint pathways; and has preclinical and research pipeline, which include Eg5 kinesin spindle protein and the B-RAF Kinase. It has an exclusive license agreement with Kyowa Hakko Kogyo co., Ltd. to develop and commercialize ARQ 197 in Japan and parts of Asia; and an alliance with Hoffmann-La Roche to discover and develop drug candidates targeting the E2F biological pathway. The company was founded in 1993 and is based in Woburn, Massachusetts. With 43.83 million shares outstanding and 4.64 million shares declared short as of July 2008, there is no longer a failure to deliver in shares of ARQL. According to quarterly data provided by the SEC, there were still 33,647 shares of ARQL that were failing-to-deliver as of August 22, 2007.

Casual Male Retail Group Inc. (NASDAQ: CMRG | Quote | Chart | News | PowerRating) together with its subsidiaries, operates as a specialty retailer of men's apparel in the United States and Canada, as well as in London, England. The company operates stores under Casual Male XL, Casual Male XL Outlets, Rochester Big & Tall Clothing, B&T Factory Direct, Shoes XL, and Living XL names. Its retail stores offer a range of basic sportswear, other casual apparel, dress wear, accessories, and men's footwear, as well as a collection of its private label collections, such as Harbor Bay, 626 Blue-Vintage Surplus, Synrgy, Comfort Zone, and Oak Hill. As of February 2, 2008, Casual Male Retail Group operated 397 Casual Male XL retail stores, 65 Casual Male XL outlet stores, and 26 Rochester Big & Tall stores; and a direct business, which included various catalogs and e-commerce sites. The company was founded in 1976. It was formerly known as Designs, Inc. and changed its name to Casual Male Retail Group, Inc. in 2002. Casual Male Retail Group is headquartered in Canton, Massachusetts. With 41.4 million shares outstanding and 4.4 million shares declared short as of July 2008, there is no longer a failure to deliver in shares of CMRG. According to quarterly data provided by the SEC, there were still 61,057 shares of CMRG that were failing-to-deliver as of September 28, 2007.

Converted Organics Inc. Warrants (NASDAQ: COINW) based in Boston, MA, is dedicated to producing valuable all-natural, organic soil amendment or fertilizer products through food waste recycling. The company uses proven, state-of-the-art technologies to create a product that helps grow healthier food and improve environmental quality. Converted Organics plans to sell and distribute its environmentally friendly fertilizer products in the retail, turf management, and agribusiness markets. With 6,700 shares declared short as of July 2008, there is no longer a failure to deliver in shares of COINW.

FuelCell Energy Inc. (NASDAQ: FCEL | Quote | Chart | News | PowerRating) engages in the development and manufacture of fuel cell power plants for electric power generation. Its core carbonate fuel cell products include Direct FuelCell or DFC Power Plants for stationary power generation applications. The company also develops carbonate fuel cell, hybrid products, and planar solid oxide fuel cell technology. Its proprietary carbonate DFC power plants electrochemically produce electricity directly from readily available hydrocarbon fuels, such as natural gas and biogas fuels. The company serves manufacturers; mission critical institutions, including correction facilities and government; and hotels and customers, such as breweries, food processors, and wastewater treatment facilities who use renewable gas for fuel. FuelCell Energy, Inc. has operations in the United States, Canada, Germany, Japan, and South Korea. The company was founded in 1969 and is headquartered in Danbury, Connecticut. With 68.72 million shares outstanding and 14.66 million shares declared short as of July 2008, there is no longer a failure to deliver in shares of FCEL. According to quarterly data provided by the SEC, there were still 82,651 shares of FCEL that were failing-to-deliver as of September 28, 2007.

Morgans Hotel Group Co. (NASDAQ: MHGC | Quote | Chart | News | PowerRating) a hospitality company, engages in the operation, ownership, acquisition, development, and redevelopment of boutique hotels in gateway cities and resort markets in the United States and Europe. The company owns and operates Morgans, Royalton, and Hudson hotels in New York, New York; Delano Miami and Shore Club hotels in Miami, Florida; Mondrian Los Angeles hotel in Los Angeles, California; Clift hotel in San Francisco, California; Mondrian Scottsdale hotel in Scottsdale, Arizona; St. Martins Lane and Sanderson hotels in London, the United Kingdom; and Hard Rock hotel and casino in Las Vegas, Nevada. As of December 31, 2007, it owned, or partially owned and managed a portfolio of 11 luxury hotel properties comprising approximately 3,400 rooms. The company was founded in 1983 and is headquartered in New York, New York. With 32.17 million shares outstanding and 11.98 million shares declared short as of July 2008, there is no longer a failure to deliver in shares of MHGC. According to quarterly data provided by the SEC, there were still 18,503 shares of MHGC that were failing-to-deliver as of September 20, 2007.

Maiden Hldgs Ltd (NASDAQ: MHLD | Quote | Chart | News | PowerRating) provides reinsurance business solutions to the property and casualty industry in the United States and Europe. It offers its products to AmTrust Financial Services, Inc. and its subsidiaries, as well as to small specialty property and casualty insurance companies. The company reinsures workers' compensation liabilities for small businesses, including restaurants, retail stores, physicians' and other professionals' offices, building management-operations by owner or contractor, private schools; hotels, light metal working machine shops, small grocery and specialty food stores, wholesale shops, and beauty shops. It also reinsures specialty middle-market property and casualty segment, which consists of workers' compensation, general liability, and commercial auto liability for small and middle-market businesses, such as retail, wholesale, service operations, artisan contracting, and light and medium manufacturing. In addition, the company reinsures specialty risk and extended warranty coverage, which provide coverage for accidental damage, mechanical breakdown, and related risks for consumer and commercial goods. Maiden Holdings, Ltd. was incorporated in May 2007 and is based is Hamilton, Bermuda. With 59.55 million shares outstanding and 29,200 shares declared short as of July 2008, there is no longer a failure to deliver in shares of MHLD.

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.

CONTACT: Thomas Ronk, CEO, BUYINS.NET Tel: +1 800 715 9999 e-mail: Tom@buyins.net WWW: http://www.buyins.net

M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.

For full details for ARQL click here.

    


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