BUYINS.NET: ELON, IAAC, PGLA, SGXP, SONS, STEC Have Also Been Removed From Naked Short List Today

Aug 21, 2008 (M2 PRESSWIRE via COMTEX) -- STEC | 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: Echelon Corp. (NASDAQ: ELON), International Assets Holding Corp. (NASDAQ: IAAC), Progen Pharmaceuticals Ltd. (NASDAQ: PGLA), SGX Pharmaceuticals Inc. (NASDAQ: SGXP), Sonus Networks Inc. (NASDAQ: SONS), STEC Inc. (NASDAQ: STEC). 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.

Echelon Corp. (NASDAQ: ELON | Quote | Chart | News | PowerRating) develops, markets, and sells a range of hardware and software products and services that enable original equipment manufacturers and systems integrators to design and implement open, interoperable, and distributed control networks. It primarily offers a suite of network infrastructure products, LonWorks Infrastructure product line, including transceivers, control modules, routers, network interfaces, development tools, and software tools and toolkits to original equipment manufacturers in the building, home, industrial, transportation, and other automation markets. The company also provides networked energy services system that offers a two-way information and control path between the utility and its customer to the electric utility industry; and i.LON Internet server family of products, which provide Internet interface and local control capability for remote devices and systems to the system integrators serving the street lighting, remote facility monitoring, and energy management markets. Echelon Corporation sells and markets its products and services through direct sales organization, distributors, value-added resellers, and integration partners in North and South America, Europe, Japan, the People's Republic of China, and the Asia Pacific. The company was founded in 1988 and is headquartered in San Jose, California. With 40.84 million shares outstanding and 6.15 million shares declared short as of July 2008, there is no longer a failure to deliver in shares of ELON. According to quarterly data provided by the SEC, there were still 84,032 shares of ELON that were failing-to-deliver as of September 26, 2007.

International Assets Holding Corp. (NASDAQ: IAAC | Quote | Chart | News | PowerRating) through its subsidiaries, provides various financial services to investment banks, commercial banks, brokers, institutional investors, corporations, charities, and governmental organizations worldwide. Its International Equities Market-Making segment acts as a wholesale market maker in select foreign securities, including unlisted American depository receipts and foreign ordinary shares. It also provides execution services and liquidity to national broker-dealers, regional broker-dealers, and institutional investors. The company's International Debt Capital Markets segment trades various international debt instruments, such as investment grade and emerging market bonds that trade on an over-the-counter basis. It also arranges, structures, and distributes international debt transactions, which include bond issues, syndicated loans, and asset-backed securitizations, as well as forms of other negotiable debt instruments for issuers located primarily in emerging markets. International Assets Holding's Foreign Exchange Trading segment trades illiquid currencies of developing countries; executes trades based on the foreign currency flows; and acts as a principal in buying and selling foreign currencies on a spot basis. Its customers include financial institutions, multi-national corporations, and governmental and charitable organizations operating in developing countries. The company's Commodities Trading segment provides a range of trading and hedging capabilities to select producers, consumers, recyclers, and investors in precious metals and certain base metals. Its Asset Management segment manages third party assets and investment gains or losses on the company's investments in registered funds or proprietary accounts managed either by the company's investment managers or by independent investment managers. The company was founded in 1987 and is based in Altamonte Springs, Florida. With 8.56 million shares outstanding and 487,300 shares declared short as of July 2008, there is no longer a failure to deliver in shares of IAAC. According to quarterly data provided by the SEC, there were still 24,683 shares of IAAC that were failing-to-deliver as of September 19, 2007.

Progen Pharmaceuticals Ltd. (NASDAQ: PGLA | Quote | Chart | News | PowerRating) is a globally focused biotechnology company committed to the discovery, development and commercialization of small molecule pharmaceuticals primarily for the treatment of cancer. Progen has built a focus and strength in anti-cancer drug discovery and development. Progen targets the multiple mechanisms of cancer across its three technology platforms, angiogenesis, epigenetics and cell proliferation. Progen has operations in Australia and the US. With 59.42 million shares outstanding and 7,000 shares declared short as of July 2008, there is no longer a failure to deliver in shares of PGLA. According to quarterly data provided by the SEC, there were still 110,002 shares of PGLA that were failing-to-deliver as of September 28, 2007.

SGX Pharmaceuticals Inc. (NASDAQ: SGXP | Quote | Chart | News | PowerRating) a biotechnology company, focuses on the discovery, development, and commercialization of therapeutics for addressing unmet medical needs in oncology. The company's product pipeline includes drug candidates from its FAST drug discovery platform, which uses X-ray crystallography and complementary biophysical and biochemical methods, combined with medicinal and computational chemistry. Its drug development programs target the c-MET receptor tyrosine kinase (MET), an enzyme implicated in an array of cancers; and the BCR-ABL tyrosine kinase enzyme for the treatment of chronic myelogenous leukemia (CML), a bone marrow cancer. Under the MET development program, the company develops SGX523, which is in Phase I clinical development studies for solid tumor indications; and SGX126, a preclinical development product for solid tumors indications. Under the BCR-ABL Development Program, SGX Pharmaceuticals develops SGX393, an oral therapy for the second-line treatment of CML, which is in preclinical development studies. Its drug discovery technologies are also applied to a portfolio of oncology targets, including JAK2, a non-receptor tyrosine kinase involved in cytokine-induced signaling and growth regulation, survival, and differentiation of cells; RAS, a protein that regulates cell growth; and three other tyrosine kinases. The company has a license and collaboration agreement with Novartis Institutes for Biomedical Research, Inc., Cystic Fibrosis Foundation Therapeutics, Inc., National Institutes of Health, and Eli Lilly & Company. SGX Pharmaceuticals, formerly known as Structural GenomiX, Inc., was founded in 1998 and is headquartered in San Diego, California. As of August 20, 2008, SGX Pharmaceuticals, Inc. operates as a subsidiary of Eli Lilly & Co. With 20.65 million shares outstanding and 88,600 shares declared short as of July 2008, there is no longer a failure to deliver in shares of SGXP.

Sonus Networks Inc. (NASDAQ: SONS | Quote | Chart | News | PowerRating) provides voice infrastructure solutions for wireline and wireless service providers. Its products are infrastructure equipment and software that enable voice services to be delivered over Internet protocol (IP) packet-based networks and are built on the distributed, IP-based principles embraced by the IP Multimedia Subsystem (IMS) architecture. The company's IMS-based solution product suite includes GSX9000 Open Services Switch to enable voice traffic to be transported over packet networks; GSX4000 Open Services Switch that delivers carrier-class functionality and manageability; Network Border Switch that provides IP-to-IP border control and PSTN media gateway integrating security, session control, and media control; PSX Call Routing Server to provide network intelligence, such as call control, service selection, and routing; and SGX Signaling Gateway that provides SS7 solution for its IMS architecture that interconnects packet solutions with SS7 networks. It also offers ASX Feature Server to provide local area calling features for residential and enterprise markets; IMX Application Platform to develop, integrate, launch, and manage telecommunication applications and services; and Insight Management System to operate carrier-class packet voice networks. Further, the company provides global system for mobile communications infrastructure solutions; and network installation, system integration and testing, technical support, and educational services on the installation, operation, and maintenance of its equipment. Its customers include long distance and local exchange carriers, Internet service providers, wireless operators, cable operators, international telephone companies, and carriers that provide services to other carriers. The company sells its products in the United States, Europe, the Middle East, Africa, Japan, and the Asia-Pacific. Sonus Networks, Inc. was founded in 1997 and is headquartered in Westford, Massachusetts. With 271.14 million shares outstanding and 32.17 million shares declared short as of July 2008, there is no longer a failure to deliver in shares of SONS. According to quarterly data provided by the SEC, there were still 1,371,137 shares of SONS that were failing-to-deliver as of September 28, 2007.

STEC Inc. (NASDAQ: STEC | Quote | Chart | News | PowerRating) designs, develops, manufactures, and markets custom memory solutions based on flash memory and dynamic random access memory (DRAM) technologies in the United States and internationally. Its flash products include ZeusIOPS solid state drives that provide enterprise-class data storage solutions; Zeus solid state drives, which are designed to meet the data storage requirements of a range of industries, including defense and aerospace, automotive and transportation, industrial, and communications industries; MACH solid state drives, which are small form factor storage solution for mission-critical systems in a variety of industries; ATA PC cards for equipment requiring standard form factors and moderate capacities, such as data recorders, avionics systems, and telecommunication applications; CompactFlash products that provide interoperability with systems based on the PC Card ATA standard by using passive adapter; secure digital memory cards; MMCPlus memory cards; USB flash drive; and single chip drives. The company also offers DRAM products, which include dual in-line memory modules (DIMMs), small-outline DIMMs, mini-registered DIMMs (mini-RDIMMs), very low profile RDIMMs, and fully-buffered DIMMs or FB-DIMMs for computing, communications, and industrial applications. STEC markets its products through manufacturers' representatives, and original equipment manufacturer distributors. STEC, Inc. was formerly known as SimpleTech, Inc. and it changed its name in March, 2007. The company was founded in 1990 and is based in Santa Ana, California. With 49.27 million shares outstanding and 9.57 million shares declared short as of July 2008, there is no longer a failure to deliver in shares of STEC. According to quarterly data provided by the SEC, there were still 13,040 shares of STEC that were failing-to-deliver as of September 12, 2007.

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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.

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