M2 PRESSWIRE-22 September 2005-BUYINS.NET: FTK, HDTV, MBND, MVCO, PESI, EGYF have been on BUYINS.NET Naked short list for 13 consecutive trading days(C)1994-2005 M2 COMMUNICATIONS LTD
RDATE:22092005
BUYINS.NET, www.buyins.net, announced today that these select companies have been on the NASDAQ, AMEX and NYSE naked short threshold lists for 13 consecutive trading days: Flotek Industries (AMEX: FTK), Spatialight, Inc. (NASDAQ: HDTV), Multiband Corp. (NASDAQ: MBND), Meadow Valley Corp. (NASDAQ: MVCO), Perma-Fix Environmental Services (NASDAQ: PESI) and Energy Finders, Inc. (OTC: EGYF). For a complete list of companies on the naked short lists please visit our web site. To determine the SqueezeTrigger Price that a short squeeze can start in any stock, go to www.buyins.net/squeezetrigger.pdf .
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.
Flotek Industries, Inc. (AMEX: FTK) provides products and services that are used in the exploration and production of crude oil and natural gas world wide. The company operates in three segments: Chemicals and Logistics, Drilling Products, and Production Products. The Chemicals and Logistics segment develops, manufactures, packages, and sells chemicals used by other oilfield service companies in oil and gas well cementing, stimulation, and production. The Drilling Products segment manufactures and markets the Turbeco line of casing centralizers, Dura-Flo mud shaker screens, and external casing packers for coal bed methane drilling. The Production Products segment manufactures and markets the Petrovalve line of downhole pump components. The company sells its products and services through direct sales employees. Flotek primarily operates in the United States and Canada. The company is headquartered in Houston, Texas. With 6.8 million shares outstanding and 57,223 shares declared short as of September 10th, the failure to deliver in shares of FTK has not been resolved and a buy-in is expected.
SpatiaLight, Inc. (NASDAQ: HDTV) manufactures high-resolution liquid crystal on silicon (LCoS) microdisplays. Its products include microdisplays, microdisplay backplanes, and systems that support microdisplays, which provide high-resolution images suitable for high definition televisions, rear projection computer monitors, and video projectors, as well as for applications in wireless communication devices, portable games, and digital assistants. The company's customers include original equipment manufacturers. It operates in Korea, China, Japan, and Taiwan. SpatiaLight was founded as Sayett Group, Inc. in 1989. The company is headquartered in Novato, California. With 36.71 million shares outstanding and 7.37 million shares declared short as of August 10th, the failure to deliver in shares of HDTV has not been resolved and a buy-in is imminent.
Multiband Corp. (NASDAQ: MBND), through its subsidiaries, provide voice, data, and video services to business, government, and multidwelling customers in the United States. Its Multiband Consumer Services (MCS) encompasses the subsidiary corporations, such as Multiband USA, Inc., URON, Inc., Minnesota Digital Universe, Inc. (MDU), and Rainbow Satellite Group, LLC. The company, through MCS division, provides communication and entertainment services, such as local dial tone, long distance, highspeed Internet, and expanded satellite television services. As of April 1, 2005, MCS had 36,816 subscriptions, which include 1,386 voice subscriptions, 31,177 video subscriptions, and 4,253 Internet subscriptions. Multiband was formed in 1975. The company was formerly known as Vicom, Incorporated and changed its name to Multiband Corporation in 2004. Multiband is based in New Hope, Minnesota. With 29.09 million shares outstanding and 828,600 shares declared short as of August 10th, the failure to deliver in shares of MBND has not been resolved and a buy-in is imminent.
Meadow Valley Corporation (NASDAQ: MVCO), through its subsidiaries, engages in the provision of construction services and supply of construction materials in the United States. It operates through two segments, Construction Services and Construction Materials. The Construction Services segment constructs bridges and overpasses, channels, roadways, highways, and airport runways. It provides construction services to various public and private customers primarily in the western states of Arizona, Nevada, and Utah. The Construction Materials segment manufactures and distributes ready mix concrete, sand, and gravel products in Las Vegas, Nevada; and Phoenix, Arizona markets. Its customers include concrete subcontractors, prime contractors, homebuilders, commercial and industrial property developers, pool builders, and homeowners. Meadow was organized in 1994 and is headquartered in Phoenix, Arizona. With 3.68 million shares outstanding and 42,080 shares declared short as of August 10th, the failure to deliver in shares of MVCO has not been resolved and a buy-in is expected.
Perma-Fix Environmental Services, Inc. (NASDAQ: PESI), through its subsidiaries, operates as a waste management company in the United States. The company operates in three segments: Industrial Waste Management Services (IWMS), Nuclear Waste Management Services (NWMS), and Consulting Engineering Services (CES). The IWMS segment engages in onsite and off-site treatment, storage, disposal, and processing of various by-products and industrial, hazardous, and nonhazardous wastes, as well as provides emergency response, vacuum services, and marine and industrial maintenance services. The NWMS segment provides treatment, storage, processing, and disposal services, including research, development, and onsite and off-site waste remediation of mixed waste, which consists of hazardous and low-level radioactive materials; and low-level radioactive wastes. The CES segment provides various environmental-related consulting and engineering services to industry and government sectors. These services include oversight management of environmental restoration projects, air and soil sampling, compliance reporting, surface and subsurface water treatment design for removal of pollutants, and various compliance and training activities. The company's customers comprise research institutions, commercial companies, retail companies, public utilities, and governmental agencies nationwide. Perma-Fix Environmental Services was founded in 1990 and is headquartered in Gainesville, Florida. With 41.92 million shares outstanding and 3,410 shares declared short as of August 10th, the failure to deliver in shares of PESI has not been resolved and a buy-in is possible.
Energy Finders, Inc. (OTC: EGYF) is a U.S. based company dedicated to the goal of being a large independent in the exploration and production of oil and natural gas. The company's mission is to create value for our shareholders by applying strong technical expertise to strategies that will unlock substantial oil and gas resources in areas where production can be achieved quickly and efficiently. With 75.48 million shares outstanding and an undisclosed short position, the failure to deliver in shares of EGYF has not been resolved and a buy-in is possible.
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 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.
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