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BUYINS.NET: RDEA, MDIN, URST, SBBFF, BFLDY, PGXFF Have Also Been Removed From Naked Short List Today

Wed. October 08, 2008; Posted: 09:44 AM
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Oct 08, 2008 (M2 PRESSWIRE via COMTEX) -- URST | 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: Ardea Biosciences Inc. (NASDAQ: RDEA), Med Gen Inc. (OTCBB: MDIN), Uranium Star Corp (OTCBB: URST), Sabina Silver Corporation (OTC: SBBFF), Benfield Group Limited (OTC: BFLDY), Progress Energy Trust (OTC: PGXFF). 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.

Ardea Biosciences Inc. (NASDAQ: RDEA | Quote | Chart | News | PowerRating) a biotechnology company, engages in the discovery and development of small-molecule therapeutics for the treatment of HIV, cancer, and inflammatory diseases in the United States. Its product portfolio comprises RDEA806, which is in Phase 2a clinical trials for the treatment of HIV and is entering Phase 2 clinical trials for the treatment of gout; 2nd Generation NNRTI Program that is entering Phase 0 clinical trials for the treatment of HIV; RDEA119, which is in Phase 1 clinical trials for the treatment of cancer and is entering Phase 1 clinical trials for the treatment of inflammation; and 2nd Generation MEK Inhibitor Program that is in Phase 0 clinical trials for the treatment of cancer/inflammation. The company is headquartered in San Diego, California. With 15.02 million shares outstanding and 827,900 shares declared short as of September 2008, there is no longer a failure to deliver in shares of RDEA. According to quarterly data provided by the SEC, there were still 269,380 shares of RDEA that were failing-to-deliver as of March 4, 2008.

Med Gen Inc. (OTCBB: MDIN | Quote | Chart | News | PowerRating) manufactures and markets healthcare products, primarily to the market for alternative therapies. Its flagship product is SNORenz, a throat spray, which reduces or eliminates the sounds ordinarily associated with snoring. The company also provides other products, including Good Nights Sleep, a liquid throat spray formulation for sleep aide; PAINenz, a roll-on topical pain relief product for reducing the pain common to arthritis sufferers, normal aches, and pains due to exercise and other muscle stress, simple backache pain, and muscle sprains; and Fab U Lust a roll-on dispenser to dispense the ingredients for a female clitoral stimulant. In addition, Med Gen offers the UNDIET SYSTEM, a weight loss program; and markets CigarHolder, a plastic clip and holder capable of holding two cigars. The company sells its products through DRTV television and print advertising campaigns, as well as company owned and operated Web sites direct to the consumer, and through various distribution agreements. It also markets its products under various private labels for other distributors in the United States and internationally. Med Gen was founded in 1996 and is headquartered in Boca Raton, Florida. With 4.71 billion shares outstanding and 30,900 shares declared short as of September 2008, there is no longer a failure to deliver in shares of MDIN. According to quarterly data provided by the SEC, there were still 1,326,500 shares of MDIN that were failing-to-deliver as of June 5, 2008.

Uranium Star Corp (OTCBB: URST | Quote | Chart | News | PowerRating) an exploration stage company, engages in the acquisition and exploration of mineral properties, primarily gold and uranium. The company holds a 100% interest in the Sagar property located in the Romanet Horst of Labrador in northern Quebec, Canada. It also holds interests in 19 claims of the Ferderber property located in the Romanest Horst of Labrador in northern Quebec, Canada; the Madagascar property comprising approximately 954 sq kilometers of mineral permits located in the District of Toliara, Madagascar; and the Peter's Creek property comprising 7 placer claims located in the Cariboo mining division, British Columbia, Canada. In addition, the company owns an option to earn a 50% undivided interest in the Temex's Merico Ethel and Yarrow gold-copper-uranium properties located in the Elk Lake area, south-east of Timmins, Ontario. The company was founded in 2004. It was formerly known as Yukon Resources Corp. and changed its name to Uranium Star Corp. in 2006. The company is based in Toronto, Canada. With 71.64 million shares outstanding and 11,200 shares declared short as of September 2008, there is no longer a failure to deliver in shares of URST. According to quarterly data provided by the SEC, there were still 955,178 shares of URST that were failing-to-deliver as of June 22, 2007.

Sabina Silver Corporation (OTC: SBBFF | Quote | Chart | News | PowerRating) engages in the acquisition, exploration, and development of mineral properties in Canada. It focuses on gold, silver, and zinc properties. The company is based in London, Canada. With 66.4 million shares outstanding and an undisclosed short position, there is no longer a failure to deliver in shares of SBBFF. According to quarterly data provided by the SEC, there were still 138,670 shares of SBBFF that were failing-to-deliver as of December 21, 2006.

Benfield Group Limited (OTC: BFLDY | Quote | Chart | News | PowerRating) together with its subsidiaries, provides insurance and reinsurance intermediary, risk advisory, and related services worldwide. It offers a range of services associated with the structuring and execution of insurance, reinsurance, and other forms of risk transfer. The company provides various reinsurance solutions in the areas of accident and health, aerospace, alternate risk transfer, binding authority, casualty, catastrophe, credit and financial risks, facultative, kidnap and ransom, marine, property, retrocessions, and terrorism. The company also provides specialist risk and financial modeling, actuarial consultancy, and risk software; insurance and reinsurance corporate finance services, including merger and acquisition advisory, capital raising, and strategic advice; reinsurance asset management and asset recovery services to commercial insurers, reinsurers, pools, and government entities, such as identifying, validating, billing, and settling reinsurance, third-party deductibles, and subrogation claims; and regional summaries and individual storm reports. In addition, it offers corporate insurance products. Benfield Group serves insurance and reinsurance companies, as well as government entities and other corporations. The company was founded in 1973 and is headquartered in London, the United Kingdom. With 106.03 million shares outstanding and 21,500 shares declared short as of September 2008, there is no longer a failure to deliver in shares of BFLDY. According to quarterly data provided by the SEC, there were still 572,586 shares of BFLDY that were failing-to-deliver as of January 16, 2008.

Progress Energy Trust (OTC: PGXFF | Quote | Chart | News | PowerRating) through its subsidiary, Progress Energy, Ltd., engages in the exploration, development, and holding of interests in petroleum and natural gas properties. Its primary operating areas include the Deep Basin of northwest Alberta and the Foothills and Plains regions of northeast British Columbia. As of December 31, 2006, the company had proved and probable reserves of approximately 64.9 million barrel of oil equivalent. Progress Energy Trust was founded in 1997 and is based in Calgary, Canada. With 97.5 million shares outstanding and 982,500 shares declared short as of September 2008, there is no longer a failure to deliver in shares of PGXFF. According to quarterly data provided by the SEC, there were still 480,308 shares of PGXFF that were failing-to-deliver as of May 6, 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 2,200,000,000 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.

CONTACT: Thomas Ronk, CEO, BUYINS.NET Tel: +1 800 715 9999 e-mail: Tom@buyins.net WWW: http://www.buyins.net

M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.

For full details for RDEA click here.

    


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