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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.
Friendly Energy Exploration (OTC: FEGR | Quote | Chart | News | PowerRating) a development stage company, engages in the acquisition, exploration, and development of oil and gas properties in the United States. The company, through its subsidiary, Friendly Energy Services, Inc., owns working interests in the Asher Prospect and the West Peach Creek Prospect located on the western edge of the St. Louis Oil Field in Central Oklahoma. Friendly Energy Exploration, formerly known as Friendly Energy Corporation, was founded in 1993 and is based in Carson City, Nevada. With 9.35 million shares outstanding and 8,500 shares declared short as of July 2008, the failure to deliver in shares of FEGR has not been resolved and a buy-in is imminent.
IQ Micro Inc. (OTC: IQMC | Quote | Chart | News | PowerRating) an international licensing company, commercializes a technology that precisely controls the movement of fluids on a micro scale. This technology, developed by Osmotex AS, relates to a field known as microfluidics,' which is the movement of minute amounts of fluid through various channels, nozzles, pumps, valves, and needles. The microfluidic devices are used in various applications in the pharmaceutical, medical, and manufacturing industries. The company was formerly known as IQ Medical Corp. and changed its name to IQ Micro, Inc. in 2005. IQ Micro is based in West Palm Beach, Florida. With 51.22 million shares outstanding and 3,400 shares declared short as of July 2008, the failure to deliver in shares of IQMC has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 93,750 shares of IQMC that were failing-to-deliver as of August 24, 2007.
New Century Financial Corp. (OTC: NEWCQ | Quote | Chart | News | PowerRating) operates as a real estate investment trust in the United States. It originates and purchases mortgage loans through two divisions, Wholesale and Retail. The Wholesale division provides loans through a network of independent mortgage brokers and correspondent lenders. It also originates mortgage loans through its FastQual Website at www.newcentury.com, where a broker uploads a loan request. The Retail division operates and originates loans through a consumer-direct channel and a builder/realtor channel, including radio, direct mail, telemarketing, television advertising, and the Internet. As of December 31, 2005, the company had 35 regional operating centers located in 18 states and originated and purchased loans through its network of 47,000 mortgage brokers, as well as operated a central retail telemarketing unit, 2 regional processing centers, and 222 sales offices. New Century Financial Corporation qualifies as a REIT under the Internal Revenue Code. As a REIT, it would not be subject to federal income tax to the extent it distributes 90% of taxable income to its shareholders. The company was co-founded by Robert K. Cole, Brad A. Morrice, and Edward F. Gotschall in 1995 and is based in Irvine, California. On April 2, 2007, New Century Financial Corp. filed a voluntary petition to reorganize under Chapter 11 in the US Bankruptcy Court for the District of Delaware, in joint administration with New Century TRS Holdings, Inc. The plan was later approved as Chapter 11 liquidation on July 2, 2008. With 55.47 million shares outstanding and 7.78 million shares declared short as of July 2008, the failure to deliver in shares of NEWCQ has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 524,917 shares of NEWCQ that were failing-to-deliver as of September 28, 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 2,100,000,000 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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