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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.
Royale Energy Inc. (NASDAQ: ROYL | Quote | Chart | News | PowerRating) operates as an independent oil and natural gas producer in the United States. The company engages in the production and sale of oil and natural gas; acquisition of oil and gas lease interests and proved reserves; drilling of exploratory and development wells; and sale of working interests in wells to be drilled. It owns wells and leases located principally in the Sacramento Basin and San Joaquin Basin in California, as well as in Utah, Texas, and Louisiana. The company also holds proved developed producing reserves of oil and natural gas in Texas and Louisiana. As of December 31, 2007, Royale Energy operated 54 natural gas wells in California; owned an interest and operated 2 natural gas wells in Utah; and had non-operating interests in 17 oil and gas wells in Texas, 3 in Oklahoma, 2 in California, and 2 in Louisiana. It also had 3,414 MMcf proved developed reserves and total proved reserves of 3,772 MMcf of natural gas; and proved developed oil reserves of 24 Mbbl and total proved oil reserves of 24 Mbbl. The company was founded in 1986 and is based in San Diego, California. With 7.92 million shares outstanding and 1.27 million shares declared short as of July 2008, the failure to deliver in shares of ROYL has not been resolved and a buy-in is imminent.
DNAPrint Genomics Inc. (OTC: DNAG | Quote | Chart | News | PowerRating) engages in the research and development of genomic products, and provides scientific services and tests to the genealogy, forensic, pharmaceutical, and genetics markets in the United States. Its primary product under development is PT-401, a Super EPO' (erythropoietin) dimer protein drug for treatment of anemia in renal dialysis patients. The company's other products under development include PT-501 for the treatment of attention deficit hyperactivity disorder; PT-502 for the treatment of drug addiction; and PT-503 for the treatment of depression. DNAPrint Genomics also develops diagnostic tests, including OVANOME for ovarian cancer, STATINOME for the safety of statins, DIABETES-CD59 for pre-diabetes diabetic complications; and PONV for post-operative nausea and vomiting. In addition, it offers DNAWitness product suite for the forensics market to determine genetic heritage from DNA samples obtained from crime scenes; and ANCESTRYbyDNA and EURO-DNA, which are genealogy products that provide an inference of an individual's genetic ancestry or heritage. Further, the company provides sequencing and genotyping services to industrial customers. DNAPrint Genomics has strategic alliances with Moffitt Cancer Center, Bioserve Biotechnologies, Ltd., and Beth Israel Deaconess Medical Center; and a collaborative research agreement with Beth Israel. It also has a license agreement with Harvard Medical School, and a research sponsorship agreement with Massachusetts College of Pharmacy and Health Sciences. The company, formerly known as Lexington Energy, Inc., was incorporated in 1983 and is based in Sarasota, Florida. With 644.61 million shares outstanding and 1.44 million shares declared short as of July 2008, the failure to deliver in shares of DNAG has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 74,205 shares of DNAG that were failing-to-deliver as of September 28, 2007.
Handleman Company (OTC: HDLM | Quote | Chart | News | PowerRating) does not have significant operations. The company is considering a plan of liquidation. Previously, it operated as a category manager and distributor of prerecorded music, and console video game hardware, software, and accessories to retailers in the United States, the United Kingdom, and Canada. The company was founded in 1934 and is based in Troy, Michigan. With 20.47 million shares outstanding and 7.27 million shares declared short as of July 2008, the failure to deliver in shares of HDLM has not been resolved and a buy-in is imminent.
Pegasus Wireless Corp. (OTC: PGSW | Quote | Chart | News | PowerRating) engages in design, manufacture, and marketing of wireless hardware and software solutions for broadband fixed, portable networking, and Internet access worldwide. It offers various products in three application areas: indoor and outdoor wireless networking, industrial wireless networking solutions, and wireless multimedia/video networking solutions. The company offers TRIMAR and AVCW series of outdoor wireless Ethernet bridge products, which are used by Internet service providers to offer Internet access to their customers wirelessly. The AVCW series of products are also used by business customers and schools to interconnect computer networks in various buildings. Pegasus Wireless also offers ASR and ACR indoor wireless products, which are used in the wireless local area networks by office and home users to interconnect computers without having to deploy cables. ASR and ACR indoor wireless products are also used to enable wireless printing, connecting computers, and network printers. In addition, it offers WiSER series wireless serial radios that are used by teachers in schools to wirelessly interconnect interactive whiteboards to the computers in the classrooms, as well as used by industrial users to connect central control computer to the remote data collecting and sensing devices; and CynaLynx, which plays DVD movies wirelessly. Further, the company offers WiJET series of products that are used by presenters in a business meeting or teachers in the classroom to deliver their PowerPoint slide shows to the audience with their computers wirelessly connected to the projector; and enable home users to deliver movie files stored on their computer hard drives to an liquid crystal display or plasma flat panel television wirelessly. Pegasus Wireless Corp. is headquartered in Fremont, California. On January 28, 2008, Pegasus Wireless Corporation filed for reorganization under Chapter 11 in the US Bankruptcy Court for the Southern District of Florida. With 46.91 million shares outstanding and 409,200 shares declared short as of July 2008, the failure to deliver in shares of PGSW has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 120,035 shares of PGSW that were failing-to-deliver as of September 28, 2007.
Net.B@nk Inc. (OTC: NTBKQ | Quote | Chart | News | PowerRating) operates as holding company for the NetBank that offers retail banking, mortgage banking, business finance, and ATM and merchant processing services in the United States. It accepts checking accounts, money market accounts, and certificate of deposits to individuals and small businesses. The bank also offers individual retirement accounts; mortgage services; home, auto, boat, personal aircraft, and recreational vehicle loans; credit cards, overdraft protection, brokerage services, financial planning, property and vehicle insurance, payroll services, equipment leasing, and foreign currency exchange. It also provides online bill payment, online check imaging, online statements, online account funding, automatic teller machine (ATM) cards, ATM deposit-gathering, VISA check cards, wireless account access, account aggregation, and consumer credit report monitoring. The bank originates and purchases 1-4 family, first and second mortgage loans, as well as loans collateralized by boats, personal aircraft, and vehicles. It also offers mortgage services, such as collecting and remitting mortgage loan payments, accounting for principal and interest, holding escrow funds, inspections of the mortgaged premises, advances to cover payments, and supervising foreclosures and property dispositions. The bank also offers ATM services, point of sale transaction processing, mortgage servicing, online banking services, payment and deposit processing, and insurance services to merchants, community banks, and other organizations. It offers its products and services through Internet, phone, ATMs, and mail delivery system. As of December 31, 2005, the company operated 9,649 ATMs and 2,367 merchant processing terminals. The company was founded in 1996 and is headquartered in Alpharetta, Georgia. On September 28, 2007, NetBank Inc. filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville. With 52.98 million shares outstanding and 135,200 shares declared short as of July 2008, the failure to deliver in shares of NTBKQ has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 548,569 shares of NTBKQ that were failing-to-deliver as of September 28, 2007.
Timminco Ltd (OTC: TIMNF | Quote | Chart | News | PowerRating) engages in the production and marketing of silicon metal for the electronics, chemical, and aluminum industries, as well as solar grade silicon for the solar industry worldwide. It operates through two groups: Silicon Group and Magnesium Group. The Silicon Group produces silicon metal and ferrosilicon used primarily in the electronics, chemical, iron and steel, and aluminum industries; and solar grade silicon for the solar photovoltaic energy industry. The Magnesium Group produces and markets specialty magnesium, calcium, and strontium metals and alloys with a focus on magnesium extruded products used in various applications for the water heater, construction, automotive, consumer products, pharmaceutical, sporting goods, and container industries. The company, through its interest in Fundo Wheels AS, manufactures cast aluminum wheels for European car manufacturers. The company was founded in 1934. It was formerly known as Chromasco Limited and changed its name to Timminco Limited in 1984. The company is headquartered in Toronto, Canada. Timminco Limited is a subsidiary of AMG Advanced Metallurgical Group N.V. With 104.13 million shares outstanding and 6.47 million shares declared short as of July 2008, the failure to deliver in shares of TIMNF has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 15,450 shares of TIMNF 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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