RE:Composite Holdings (OTC: COHIA)->, (COMTEX) B: 25 Companies Now in Naked Short Selling Wars
Jan 31, 2003 (financialwire.net via COMTEX) -- (FinancialWire) The naked short
selling wars are so far being defined by skirmishes and even friendly fire on
the front lines.
Some 25 companies have been listed in one or more articles, including Dow Jones
Newswires (NYSE: DJ) or press releases, to date as having a strategy or interest
in ridding themselves of naked short sellers: Ameri-Dream (OTCBB: AMDR),
Bluebook International (OTCBB: BBIC), Bentley Communications (OTCBB: BTLY),
Critical Home Care (OTCBB: CCLH), Composite Holdings (OTC: COHIA), Edgetech
Services (OTCBB: EDGH), Environmental Protection (OTC: EPTC), Freestar
Technologies (OTCBB: FSTI), GeneMax Corp. (OTCBB: GMXX), Group Management Corp.
(OTCBB: GPMT), Hadro Resources (OTCBB: HDRS), International Biochem (OTCBB:
IBCL), Intergold Corp. (OTCBB: IGCO), ITIS Holdings (OTCBB: ITHH), Jag Media
Holdings (OTCBB: JGMHA), Midastrade.com (OTC: MIDS), Make Your Move (OTCBB:
MKMV), MSM Jewelry Corp. (OTC: MSMJ), Nutra Pharmaceutical (OTCBB: NPHC), Nutek
(OTCBB: NUTK), Reed Holdings (OTC: RDHC), Sionix (OTCBB: SINX), Sounncomm
Technologies (OTC: STEH), Technology Logistics (OTC: TLOS) and Ten Stix, Inc.
(OTCBB: TNTI).
Of the entire group, only three - Critical Homecare, GeneMax and MidasTrade -
are trading over $1. Some 15 of the 25 suffered declines Thursday alone. Only
six had no volume. International Biochem traded over 22 million shares! GeneMax
is by far the largest in terms of publicly-available market capitalization: $111
million.
Jag Media is valued in the marketplace at about a third of that. Thursday the
company stated that the Depository Trust Corporation had failed to return its
calls or the calls of its counsel, and that the company is reviewing all options
with respect to its shareholders' overwhelming vote to adopt custody-only
trading rules. Jag Media also said it will consider - if DTCC ever returns its
calls - entering the Direct Registration System (DRS) that this newswire had
listed in a previous dispatch as an option for these companies.
On Wednesday, Group Management provided its shareholders with a letter to fax to
their brokers requesting physical custody of shares, and ITIS Holdings said its
directors had rescinded the company's intent to make their company's shares
non-depository eligible.
Thursday, InterGold announced that its bylaws have changed to require all shares
to be in certificate form under seal of the Corporation, and EdgeTech said, in a
paragraph tacked onto the end of another announcement, that its "formerly
announced alliance with ICI (Investor Communications International) will not
proceed." Thursday the CEO, Tae Ho Kim, contacted FinancialWire to be certain
that decision is made known. Neither he nor ICI responded to enquiries as to the
reason for that sudden disengagement.
On Thursday, ICI also issued its now almost daily press release responding to
Dow Jones reporting, and said companies it represents will exit the DTC "even if
legal action is required." The company listed GeneMax Corp., Ten Stix Inc.,
Midas Trade, Hadro Resources, Vega Atlantic Corporation and Intergold
Corporation in its release.
Clickable links for FinancialWire news are at financialwire.net. For
FinancialWire audio news, click on partner ON24 at on24news.com
URL: financialwire.net
(C) 2003 financialwire.net, Inc. All rights reserved.
-0-
*** end of story *** |
