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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.
Knight Transportation Inc. (NYSE: KNX | Quote | Chart | News | PowerRating) engages in the transportation of general commodities in the United States. It primarily offers asset-based dry van truckload and temperature controlled truckload carrier services primarily to short-to-medium lengths of haul. The company also provides non-asset-based brokerage services. As of December 31, 2007, it operated 3,527 company-owned tractors; 231 contract tractors; and 8,809 trailers, including 551 temperature controlled trailers. Knight Transportation, Inc. also operated 27 asset-based dry van service centers, 4 asset-based temperature controlled service centers, and 12 non-asset-based brokerage branches. The company was founded in 1989 and is headquartered in Phoenix, Arizona. With 85.56 million shares outstanding and 17.16 million shares declared short as of July 2008, the failure to deliver in shares of KNX has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 170,446 shares of KNX that were failing-to-deliver as of September 28, 2007.
Yanzhou Coal Mining Company Ltd. One (NYSE: YZC | Quote | Chart | News | PowerRating) engages in the underground coal mining, preparation and sale of coal, and railway transportation of coal. Its principal products comprise thermal coal for electricity generation; and semi-soft coking coal and pulverized coal for use in metallurgical production. As of December 31, 2007, the company had approximately 1,898.6 million tones of proven and probable reserves. It also engages in the ownership and operation of local railway transportation network, which consist approximately 204 kilometers of railway track that connects its coal mines in Shandong to the national railway system, distribution points, and the facilities of customers; transportation through rivers and lakes; and the sale of coal and construction materials. In addition, the company engages in the trading and processing of mining machinery; investment in heat and electricity; manufacture and sale of mining machinery and engine products; the development of integrated coal technology; the operation of Tianchi Coal Mine; production, exploration, and sales of coke; and production of methanol and other chemical products. The company was founded in 1973 and is based in Zoucheng, the People's Republic of China. Yanzhou Coal Mining Company Limited is a subsidiary of Yankuang Group Corporation Limited. With 491.84 million shares outstanding and 371,100 shares declared short as of July 2008, the failure to deliver in shares of YZC has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 23,402 shares of YZC that were failing-to-deliver as of September 24, 2007.
Gateway Financial Holdings Inc. (NASDAQ: GBTS | Quote | Chart | News | PowerRating) operates as the bank holding company for Gateway Bank & Trust Co. that offers commercial and retail banking services. It primarily engages in generating deposits and originating loans. The company's deposit products include savings, NOW, money market, and time accounts. Its lending portfolio comprises short- to medium-term commercial and industrial, real estate, agricultural, small business administration guaranteed, farmers home administration guaranteed, mortgage, construction, personal loans, and secured and unsecured loans. The bank also offers a range of products and services, including Internet banking, direct deposit, travelers' checks, safe deposit boxes, United States savings bonds, and automatic account transfer services. In addition, it provides securities brokerage, title insurance, and settlement services for real estate transactions; property, casualty, life, and health insurance products to businesses and individuals; and various mortgage products. As of July 30, 2008, Gateway Financial Holdings operated 37 full-service financial centers in Virginia and North Carolina. The company was founded in 1998 and is headquartered in Raleigh, North Carolina. With 12.67 million shares outstanding and 764,800 shares declared short as of July 2008, the failure to deliver in shares of GBTS has not been resolved and a buy-in is imminent.
Stereotaxis Inc. (NASDAQ: STXS | Quote | Chart | News | PowerRating) designs, manufactures, and markets cardiology instrument control system for use in hospital's interventional surgical suite and interventional lab to treat arrhythmias and coronary artery disease in the United States, Canada, Europe, and internationally. The company offers NIOBE System that allows physicians to navigate proprietary catheters, guidewires, and delivery devices through the blood vessels and chambers of the heart to treatment sites; and NAVIGANT, an advanced user interface or physician control center, which physicians use to visualize and track procedures and to provide instrument control commands that govern the motion of the working tip of the catheter, guidewire, or delivery device. The company also provides ODYSSEY information management system that consolidates the multiple sources of diagnostic and imaging information found in the interventional lab into a large-screen user interface with single mouse control, which is connected through a private network line to other interventional labs or to a remote clinical call center; and CARDIODRIVE, an automated catheter advancement system used to remotely advance and retract the catheter in the patient's heart. Stereotaxis markets its products through a direct sales force of senior sales specialists, distributors, clinical specialists, and sales agents. It has strategic partnership with Siemens AG Medical Solutions, Philips Medical Systems, and Biosense Webster, Inc. The company was founded in 1990 and is based in St. Louis, Missouri. With 37.19 million shares outstanding and 5.91 million shares declared short as of July 2008, the failure to deliver in shares of STXS has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 27,696 shares of STXS that were failing-to-deliver as of September 26, 2007.
IndyMac Bancorp Inc. (OTC: IDMC | Quote | Chart | News | PowerRating) operates as the holding company for IndyMac Bank, F.S.B., a thrift/mortgage bank that provides mortgage products and services in the United States. It operates in two segments, Mortgage Banking and Thrift. The Mortgage Banking segment offers adjustable-rate mortgages (ARMs), intermediate term fixed-rate loans, pay option ARMs, fixed-rate mortgages, conforming and non conforming loans, construction-to-permanent loans, subprime mortgages, home equity lines of credits, and reverse mortgages. This segment also originates or purchases mortgage loans through its relationships with mortgage brokers, mortgage bankers, and financial institutions, as well as offers mortgages and reverse mortgages to consumers through direct mails, Internet leads, online advertising, affinity relationships, retail banking branches, and real estate professionals. The Thrift segment offers single-family residential mortgage loans, as well as provides construction financing for individual consumers for building a primary residence or second home. As of December 31, 2007, the bank operated through a network of 33 branches in southern California. The company was founded in 1985 and is headquartered in Pasadena, California. On July 31, 2008, IndyMac Bancorp, Inc. filed a voluntary petition for liquidation under Chapter 7 in the US Bankruptcy Court for the Central District of California. With 100.89 million shares outstanding and 37.88 million shares declared short as of July 2008, the failure to deliver in shares of IDMC has not been resolved and a buy-in is imminent.
American Home Mortgage Investment Corp. (OTC: AHMMQ) a real estate investment trust (REIT), engages in the investment and origination of residential mortgage loans in the United States. The company primarily originates and sells securitized adjustable-rate mortgage loans, as well as engages in the sale of mortgage loans to institutional investors and servicing mortgage loans owned by others. Its products also comprise conventional conforming fixed rate loans, alternate "A" loans, jumbo fixed rate loans, home equity or second mortgage loans, government fixed rate loans, non-prime loans, construction loans, and bridge loans. The company has elected to be treated as a REIT for federal income tax purposes. As a REIT, it would not be subject to federal income tax, provided it distributes at least 90% of its taxable income to its shareholders. American Home Mortgage Investment Corp. was founded in 1999 and is headquartered in Melville, New York. On August 6, 2007, American Home Mortgage Investment Corp., alongwith its affiliates, filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the District of Delaware. With 2.15 million shares outstanding and an undisclosed short position, the failure to deliver in shares of AHMMQ 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 2,100,000,000 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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