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BUYINS.NET: MEMY, ADVR, DJRT, MIIS, PFGY, ICOA Have Been Removed From Naked Short List Today

Wed. December 24, 2008; Posted: 09:53 AM
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Dec 24, 2008 (M2 PRESSWIRE via COMTEX) -- PFGY | 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: Memory Pharmaceuticals Corp. (NASDAQ: MEMY), Advanced Viral Research Corp. (OTCBB: ADVR), Dale Jarrett Racing Adventure Inc. (OTCBB: DJRT), MicroIslet Inc. (OTCBB: MIIS), Perfectenergy International Ltd. (OTCBB: PFGY), ICOA, Inc. (OTC: ICOA). 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.

Memory Pharmaceuticals Corp. (NASDAQ: MEMY | Quote | Chart | News | PowerRating) a biopharmaceutical company, focuses on the discovery and development of drug candidates for the treatment of central nervous system conditions. It offers drugs for neurological diseases associated with aging, such as Alzheimer's disease, as well as psychiatric disorders, such as schizophrenia, cognitive impairment associated with schizophrenia (CIAS), and depression. The company's products include MEM 1003, a neuronal L-type calcium channel modulator that is in phase II clinical trials for the treatment of Alzheimer's disease and bipolar disorder; and nicotinic alpha-7 agonists, including MEM 3454, a phase IIa clinical trial product and MEM 63908, a phase I clinical trial product for the treatment of Alzheimer's disease and CIAS. Its products also comprise PDE4 inhibitors, including MEM 1414, a phase I clinical trial program, as well as MEM 1917 for CNS disorders and depression; PDE10 Inhibitor program; and 5-HT6 Antagonists for the treatment of Alzheimer's disease, schizophrenia, attention deficit disorder, and obesity. The company has collaborations with F. Hoffman-La Roche, Ltd. for the development of nicotinic alpha-7 agonists; and Amgen, Inc. for the development of PDE10 inhibitors. In addition, it has a development agreement with The Stanley Medical Research Institute to develop MEM 1003 as a treatment for bipolar disorder. The company was founded in 1997 and is based in Montvale, New Jersey. With 77.5 million shares outstanding and 33,300 shares declared short as of October 2008, there is no longer a failure to deliver in shares of MEMY. According to quarterly data provided by the SEC, there were still 1,168,298 shares of MEMY that were failing-to-deliver as of October 24, 2007.

Advanced Viral Research Corp. (OTCBB: ADVR | Quote | Chart | News | PowerRating) a biopharmaceutical company, engages in the research, development, and commercialization of small molecule therapeutics that address medical needs for various degenerative conditions in the United States. Its products include AVR118, a cytoprotective drug composed of a complex mixture of protein and ribonucleic acid components; AVR123, a form of AVR118 specially designed for dermatology applications, which is in Phase II clinical trials; AVR147, an inhibitor of a cancer target known as a proteasome; AVR168 that is a natural product, which inhibits a member of a family of motor proteins that are responsible for the assembly and function of microtubules during cell division. The company develops its products focusing on the treatment of systemic symptoms, such as cachexia (body wasting), loss of appetite and lethargy experienced by patients with advanced malignant cancer, HIV-AIDS, cardiovascular disease, sepsis, viral infections, and other diseases, as well as to treat as an aid in wound healing. Its also develops its products for use as an anti-inflammatory in conditions, such as rheumatoid arthritis; and palliative agent to minimize certain toxicities associated with chemo or immunotherapies. The company was founded in 1984 and is based in Yonkers, New York. With 846.23 million shares outstanding and 1,900 shares declared short as of October 2008, there is no longer a failure to deliver in shares of ADVR. According to quarterly data provided by the SEC, there were still 8,454,142 shares of ADVR that were failing-to-deliver as of April 4, 2008.

Dale Jarrett Racing Adventure Inc. (OTCBB: DJRT | Quote | Chart | News | PowerRating) offers entertainment based oval driving schools and events in the United States. The company provides five types of ride or drive programs for individuals and corporations, which include Qualifier, a three lap ride with a professional driver; Season Opener, a half day training class for ten laps; Rookie Adventure and Happy Hour, which are half day driving classes with the students driving twenty or thirty laps; and Advanced Stock Car Adventure, a full day sixty lap class. It also offers add-on sale items, including CDs from its adventure cam located in the car, clothing, souvenirs, and photography. The company owns various 'NASCAR' type automobiles. As of December 31, 2007, it owned 15 race cars. The company was founded in 1998 and is based in Newton, North Carolina. With 25.25 million shares outstanding and 700 shares declared short as of October 2008, there is no longer a failure to deliver in shares of DJRT. According to quarterly data provided by the SEC, there were still 137,515 shares of DJRT that were failing-to-deliver as of February 3, 2006.

MicroIslet Inc. (OTCBB: MIIS | Quote | Chart | News | PowerRating) a biotechnology company, engages in the research, development, and commercialization of patented technologies in the field of transplantation therapy for people with insulin-dependent diabetes. Its islet transplantation technology, a patented technology licensed from Duke University, includes methods for isolating, culturing, cryopreservation, and immuno-protection of islet cells. The company also focuses on developing and commercializing, MicroIslet-P, an injectable suspension of microencapsulated porcine insulin-producing, pancreatic islet cells for the treatment of insulin-dependent diabetes. MicroIslet, Inc. has collaborations with The Scripps Research Institute; and the California National Primate Research Center at the University of California in the area of islet cell transplantation therapies for the treatment of insulin-dependent diabetes. The company was founded in 1998 and is based in San Diego, California. On November 10, 2008, MicroIslet, Inc. filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of California. With 55.02 million shares outstanding and 200 shares declared short as of October 2008, there is no longer a failure to deliver in shares of MIIS. According to quarterly data provided by the SEC, there were still 309,024 shares of MIIS that were failing-to-deliver as of April 27, 2004.

Perfectenergy International Ltd. (OTCBB: PFGY | Quote | Chart | News | PowerRating) through its subsidiaries, engages in the research, development, manufacture, and sale of solar cell, solar module, and photovoltaic systems. It sells its products to systems integrators and distributors, who purchase software and hardware from other vendors, and then integrate and install the end-product for their customers. The company markets and sells its products and services through its direct sales force and through marketing programs, such as industrial conferences, trade fairs, sales training, and advertising. Perfectenergy International operates in Mainland China, Europe, and the United States. The company was founded in 2005 and is based in Shanghai, the People's Republic of China. With 29.63 million shares outstanding and 500 shares declared short as of October 2008, there is no longer a failure to deliver in shares of PFGY. According to quarterly data provided by the SEC, there were still 307,894 shares of PFGY that were failing-to-deliver as of April 1, 2008.

ICOA, Inc. (OTC: ICOA | Quote | Chart | News | PowerRating) provides Wi-Fi networks and services in the United States. The company sells, installs, supports, and provides wired and wireless Ethernet and Internet access services, primarily through Wi-Fi public wireless local area networks. It sells Wi-Fi systems with operating and maintenance contracts to airports, hotels, convention centers, restaurants and cafes, resorts, campgrounds, marinas, multiple dwelling units, travel plazas, and higher education institutions. The company also provides service management capabilities, including back office, network management, customer care, and related services to support the on-going operations of Wi-Fi service providers. It also operates Wi-Fi hot spots and Internet access terminals in public locations. As of December 31, 2005, it owned and operated approximately 1,500 broadband access installations. ICQA, Inc. was founded in 1983. It was formerly known as Quintonix, Inc. and changed its name to ICOA, Inc. in 1989. The company is based in Warwick, Rhode Island. With 564.70 million shares outstanding and an undisclosed short position, there is no longer a failure to deliver in shares of ICOA. According to quarterly data provided by the SEC, there were still 20,272,134 shares of ICOA that were failing-to-deliver as of October 23, 2006.

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 2,300,000,000 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 WWW: http://www.buyins.net e-mail: Tom@buyins.net Tel: +1 800 715 9999

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 ADVR click here.

    


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