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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.
Cathay General Bancorp (NASDAQ: CATY | Quote | Chart | News | PowerRating) operates as the holding company for Cathay Bank, which offers various financial services for individuals, professionals, and small to medium-sized businesses primarily in California. Its deposit products include passbook accounts, checking accounts, money market deposit accounts, certificates of deposit, individual retirement accounts, college certificates of deposit, and public funds deposits. The company provides various loan products, such as commercial mortgage loans, commercial loans, small business administration loans, residential mortgage loans, real estate construction loans, and equity lines of credit; and installment loans to individuals for automobile, household, and other consumer expenditures. In addition, it provides letters of credit, wire transfers, forward currency spot and forward contracts, traveler's checks, safe deposit, night deposit, social security payment deposit, collection, bank-by-mail, drive-up and walk-up windows, automatic teller machines, Internet banking services, and other customary bank services. As of December 31, 2007, Cathay General Bancorp had 21 branches in Southern California, 10 branches in Northern California, 9 branches in New York, 1 branch in Massachusetts, 2 branches in Texas, 3 branches in Washington, 3 branches in Illinois, 1 branch in New Jersey, and 1 branch in Hong Kong, as well as a representative office in Shanghai and Taipei. The company was founded in 1961 and is based in Los Angeles, California. With 49.42 million shares outstanding and 15.22 million shares declared short as of July 2008, the failure to deliver in shares of CATY has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 32,032 shares of CATY that were failing-to-deliver as of September 21, 2007.
Chattem Inc. (NASDAQ: CHTT | Quote | Chart | News | PowerRating) together with its subsidiaries, engages in the manufacture and marketing of a portfolio of over-the-counter (OTC) healthcare products, toiletries, and dietary supplements. The company markets its products under various brand names in categories, such as medicated skin care, topical pain care, oral care, internal OTC, medicated dandruff shampoos, dietary supplements, and other OTC and toiletry products. It sells Medicated Skin Care products under the brands Gold Bond, Cortizone-10, and Balmex; Topical pain care products under the Icy Hot, Aspercreme, Flexall, Capzasin, Sportscreme, and Arthritis Hot brand names; Oral Care products under the brands ACT, Herpecin-L, and Benzodent; and Internal OTC products under the Pamprin, Premsyn PMS, Unisom, and Kaopectate brand names. The company also offers medicated dandruff shampoos under the brands Selsun Blue, Selsun Salon, and Selsun Blue Naturals; Dietary Supplement products under the Dexatrim, Garlique, Melatonex, New Phase, and Omnigest EZ brand names; and Other OTC and Toiletry Products under the brands Bullfrog, Sun-In, UltraSwim, and Mudd. Chattem markets its products to mass merchandisers, and drug and food retailers in the United States, Canada, Europe, and Latin America. The company was founded in 1879 and is headquartered in Chattanooga, Tennessee. With 18.77 million shares outstanding and 6.66 million shares declared short as of July 2008, the failure to deliver in shares of CHTT has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 23,826 shares of CHTT that were failing-to-deliver as of September 26, 2007.
Clearwire Corp. (NASDAQ: CLWR | Quote | Chart | News | PowerRating) builds and operates wireless broadband networks that enable Internet communications. It delivers high-speed wireless broadband services to individuals, small businesses, public safety organizations, and others in various markets through its network. The company also offers voice over Internet protocol telephony services, as well as sells wireless broadband access systems and related technology to other third party domestic and international Internet service providers. As of December 31, 2007, its network is deployed in 46 markets and covered an estimated 13.6 million people. As of the above date, the company also offered wireless broadband services in Ghent and Brussels, Belgium, Dublin, Ireland, and Seville, Spain, where its network covered approximately 2.7 million people. Clearwire Corporation was founded in 2003 and is headquartered in Kirkland, Washington. With 164.22 million shares outstanding and 17.51 million shares declared short as of July 2008, the failure to deliver in shares of CLWR has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 10,096 shares of CLWR that were failing-to-deliver as of September 28, 2007.
Gaiam Inc. (NASDAQ: GAIA | Quote | Chart | News | PowerRating) together with its subsidiaries, operates as a lifestyle media company in the United States, Canada, Japan, and the United Kingdom. The company engages in developing, producing, and licensing information and programs to customers focusing on personal development, wellness, spirituality, ecological lifestyles, media, and conscious community markets. It also develops children's programs, as well as develops and markets music and audio CDs, and publishes printed content. Gaiam primarily serves national retailers, corporate accounts, and the media markets. It also conducts direct to consumer business through catalogs, Internet, retailers, direct response television, electronic downloads, broadband, subscription systems, and communities, as well as international licensing. The company was founded in 1988 and is headquartered in Broomfield, Colorado. With 25.05 million shares outstanding and 4.23 million shares declared short as of July 2008, the failure to deliver in shares of GAIA has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 41,688 shares of GAIA that were failing-to-deliver as of September 27, 2007.
iRobot Corp. (NASDAQ: IRBT | Quote | Chart | News | PowerRating) designs, develops, and markets robots to consumer, government, and industrial markets in the United States and internationally. The company offers consumer products, such as floor vacuuming robots, floor washing robots, and gutter cleaning robots, and pool cleaning robots, as well as virtual visiting and programmable robots. Its government and industrial products include PackBot and PackBot 510 line of unmanned ground robots; prototype R-Gator unmanned ground vehicles; iRobot PackBot 510 with EOD kit that adapts to various improvised explosive devices, conventional ordnance, and SWAT missions; and iRobot PackBot 510 with FasTac kit to investigate suspicious objects, and to identify roadside bombs and IEDs. The company also provides its PackBot products in various configurations, including iRobot PackBot Scout for military operations in urban terrain and battle missions; iRobot PackBot Explorer to perform real-time targeting and battle damage assessment; iRobot PackBot EOD to conduct explosive ordnance disposal, hazardous materials, search-and-surveillance, and law enforcement tasks; and iRobot PackBot with ICx fido explosives detection kit to screen packages and dangerous items. iRobot Corporation sells its products through chain stores and national retailers, as well as through online to consumers, the U.S. military, and other government agencies. It has strategic alliances with The Boeing Company, Advanced Scientific Concepts, Inc., TASER International, Inc., Deere & Company, and The Clorox Company. The company was founded in 1990. It was formerly known as IS Robotics, Inc. and changed its name to IS Robotics Corporation in 1994. Further, the company changed its name to iRobot Corporation in 2000. iRobot Corporation is based in Bedford, Massachusetts. With 24.58 million shares outstanding and 4.23 million shares declared short as of July 2008, the failure to deliver in shares of IRBT has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 100,900 shares of IRBT that were failing-to-deliver as of September 28, 2007.
Open Text Corp. (NASDAQ: OTEX | Quote | Chart | News | PowerRating) develops, markets, sells, and supports Enterprise Content Management (ECM) solutions. The company's ECM solutions help customers manage critical business content, as well as assist companies with the management of their content revisions, approvals to archiving, and compliance with regulatory requirements. Its principal product, Livelink, enables corporations to manage traditional forms of content, such as images, office documents, graphics, and drawings, as well as to manage electronic content, including Web pages, email, and video. The company's solutions allow users to access, view, and manage information related to a transaction or business process, without switching from one application to another. It offers solutions for compliance and governance, email management, corporate services, information systems and technology, and manufacturing and operations. Open Text Corporation provides its solutions to various industries, including government, legal, pharmaceutical and life sciences, financial services, energy, media, and manufacturing and production. The company also offers customer support, consulting, and training and integration services. It markets and licenses its products and services primarily in North America and Europe. The company has strategic alliances with Microsoft Corporation, Oracle Corporation, and SAP AG. Open Text Corporation was founded in 1991 and is headquartered in Waterloo, Canada. With 51.1 million shares outstanding and 17.56 million shares declared short as of July 2008, the failure to deliver in shares of OTEX has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 160,409 shares of OTEX 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 2,050,000,000 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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