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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.
National City Corp. (NYSE: NCC | Quote | Chart | News | PowerRating) a financial holding company, provides commercial and retail banking, mortgage financing and servicing, consumer finance, and asset management services in the United States. Its retail banking services include deposit gathering and direct lending services, business banking services, education finance, retail brokerage, and lending-related insurance services to consumers and small businesses. The company's consumer lending products include home equity, student loans, and credit cards and other unsecured personal and small business lines of credit. National City's commercial banking products and services include lines of credit, term loans, leases, investment real estate lending, asset-based lending, treasury management, stock transfer, international services, and dealer floorplan financing to large- and medium-sized corporations. The company also offers loan sales and securitization, structured finance, syndicated lending, commercial leasing, equity and mezzanine capital, derivatives, public finance, investment banking, correspondent banking, multifamily real estate lending, and commercial real estate lending to select customers in certain industries or distribution channels. Its mortgage banking activities comprise originating residential mortgage, home equity lines, and loans collateralized by one-to-four-family residential real estate, as well as servicing mortgage loans, home equity loans, and home equity lines of credit for third-party investors. National City's asset management services include investment management, custody, retirement planning services, and other corporate trust services to institutional clients; and personal wealth management services for individuals and families. As of December 31, 2007, it operated approximately 1,400 branch banking offices in Ohio, Florida, Illinois, Indiana, Kentucky, Michigan, Missouri, Pennsylvania, and Wisconsin. The company was founded in 1845 and is headquartered in Cleveland, Ohio. With 761.21 million shares outstanding and 166.08 million shares declared short as of September 2008, the failure to deliver in shares of NCC has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 9,128,288 shares of NCC that were failing-to-deliver as of June 17, 2008.
iStar Financial Inc. (NYSE: SFI | Quote | Chart | News | PowerRating) operates as a finance company focusing on the commercial real estate industry. The company provides custom-tailored financing to high-end private and corporate owners of real estate. Its financing products include senior and mezzanine real estate debt, senior and mezzanine corporate capital, corporate net lease financing, and equity. The company also involves in corporate tenant leasing business, which provides capital to corporations and others who control facilities leased primarily to single creditworthy customers. As of December 31, 2007, iStar Financial owned 407 office and industrial, entertainment, hotel, and retail facilities in 40 states. The company qualifies as a REIT for federal income tax purposes. As a REIT, it generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was founded in 1993 and is based in New York, New York. With 133.77 million shares outstanding and 34.45 million shares declared short as of September 2008, the failure to deliver in shares of SFI has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 1,917,816 shares of SFI that were failing-to-deliver as of March 13, 2008.
Pacific Capital Bancorp (NASDAQ: PCBC | Quote | Chart | News | PowerRating) operates as the holding company for Pacific Capital Bank, N.A., which provides a range of commercial and consumer banking services to households, professionals, and businesses primarily in the central coast of California. The company primarily offers its banking services under Santa Barbara Bank & Trust, First National Bank of Central California, South Valley National Bank, San Benito Bank, and First Bank of San Luis Obispo brand names. It offers a range of deposit products, including NOW accounts, money market deposit accounts, savings accounts, time certificates of deposit, interest bearing deposits, and demand deposits. The company also provides various loans comprising real estate loans, home equity lines and loans, consumer loans, leases, and demand deposit overdraft protection products, as well as commercial, industrial, and agricultural loans. In addition, it offers safe deposit boxes, travelers' checks, money orders, foreign exchange services, and cashiers checks. Further, the company provides trust and investment advisory services, as well as a range of wealth management services. As of December 31, 2007, it operated 50 retail branches and 14 loan production offices. Pacific Capital Bancorp was founded in 1960 and is based in Santa Barbara, California. With 46.19 million shares outstanding and 10.17 million shares declared short as of September 2008, the failure to deliver in shares of PCBC has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 314,587 shares of PCBC that were failing-to-deliver as of April 29, 2008.
Quality Systems Inc. (NASDAQ: QSII | Quote | Chart | News | PowerRating) engages in the development and marketing of healthcare information systems in the United States. Its system automates various aspects of medical and dental practices, and networks of practices, such as physician hospital organizations and management service organizations, ambulatory care centers, community health centers, and medical and dental schools. The company offers proprietary electronic medical records software and practice management systems under the NextGen3 product name. The product categories of the NextGen suite include electronic medical records, enterprise practice management, enterprise appointment scheduling, enterprise master patient index, NextGen image control system, managed care server, electronic data interchange, system interfaces, Internet operability, and a patient-centric and provider-centric Web portal solution. It also offers NextGen Express designed for small practices and NextGen Community Health Solution; and revenue cycle management services under the Practice Solutions name, which include billing and collections services for medical practices. In addition, Quality Systems provides hardware and software installation, maintenance and support services, system training, and electronic data interchange services. The company was founded in 1974 and is headquartered in Irvine, California. With 27.77 million shares outstanding and 5.13 million shares declared short as of September 2008, the failure to deliver in shares of QSII has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 736,861 shares of QSII that were failing-to-deliver as of February 1, 2008.
3D Systems Corp. (NASDAQ: TDSC | Quote | Chart | News | PowerRating) through its subsidiaries, designs, develops, manufactures, markets, and services 3-D modeling, rapid prototyping and manufacturing systems, and related products and materials. Its products enable three-dimensional objects to be produced directly from computer data. The company's products include stereolithography or SLA equipment; selective laser sintering or SLS equipment; and 3-D modeling equipment comprising multi-jet and layer-deposition equipment and film transfer imaging equipment. These systems or equipments use patented and proprietary stereolithography, selective laser sintering, and various 3-D modeling and film transfer imaging methods and processes that take digital data input from CAD software or three-dimensional scanning and sculpting devices to fabricate physical objects from engineered plastic, metal, and composite materials. In addition, the company blends, markets, and distributes various proprietary consumable, engineered plastics, composites, and metal materials; and offers various software tools and field services, including applications development, installation, warranty, and maintenance services. It markets its products in North America, Europe, and the Asia-Pacific region. The company was founded in 1986 and is headquartered in Rock Hill, South Carolina. With 22.36 million shares outstanding and 1.97 million shares declared short as of September 2008, the failure to deliver in shares of TDSC has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 247,280 shares of TDSC that were failing-to-deliver as of June 4, 2008.
Optigenex Inc. (OTCBB: OPGX | Quote | Chart | News | PowerRating) engages in manufacturing and licensing health, wellness, and beauty products worldwide, based on its natural botanical extract ingredient, AC-11, which is a bioactive form of the medicinal herb known as Uncaria tomentosa. It licenses its technology for the manufacture and sale of privately labeled products containing AC-11 to third-party marketing companies in the personal care and nutraceutical industries. The company sells Activar Skin Renewal System and AC-11 to domestic and international partners in the nutraceutical, cosmeceutical, personal care, skin care, and hair care industries. In addition, Optigenex offers a line of skin care products, which consist of a day cream, night cream, and an eye cream designed to repair damage to the skin from multiple causes, including exposure to ultraviolet rays, stress and pollution while increasing skin elasticity, and reducing wrinkles and other visible signs of aging. It has joint venture partnerships with PMO Products, Inc. and Prometheon Labs LLC. The company is headquartered in Lyndhurst, New Jersey. With 31.96 million shares outstanding and 332,600 shares declared short as of September 2008, the failure to deliver in shares of OPGX has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 332,279 shares of OPGX that were failing-to-deliver as of January 8, 2008.
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 2,150,000,000 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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