'Short Seller Wars' Gets Two New Combatants
FRIDAY , FEBRUARY 07, 2003 02:41 AM
February 7, 2003 (financialwire.net via COMTEX) -- (FinancialWire) The so-called "Short Seller Wars" of 2003 gained two new combatants today when Pacel Corp. (OTCBB: PCEL) said it is "considering adopting custody only trading of its stock "to protect the company's stockholders against naked short selling of the company's stock." Coetaneously, Sales OnLine Direct (OTCBB: PAID) said its board has approved the move, and it will be asking its shareholders.
Companies previously mentioned in DowJones (NYSE: DJ) Newswires and other media as associated on one side or another of the controversy include
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 (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 Corp. (OTCBB: SINX),
Soundcomm Technologies (OTC: STEH),
Technology Logistics (OTC: TLOS),
Ten Stix, Inc. (OTCBB: TNTI),
Vega Atlantic (OTCBB: VATL),
vFinance, Inc. (OTCBB: VFIN) and
WorldTradeShow.com (OTC: WTSW).
One of the companies, JAG Media Holdings, Inc. (OTCBB: JGMHA), frustrated at lack of clarification from the Depository Trust Corp., said that the DTC has contacted its attorneys to confirm its position that it will "no longer permit issuers to exit their securities from the DTC system" but "declined to provide the Company with the provisions of the Uniform Commercial Code on which it based its guidance statement."
JAG Media Holdings said it has retained O'Quinn, Laminack & Pirtle of Houston, Texas as its counsel to assist the Company in assessing its options.
In other news, the SEC has suspended the trading of International BioChemical Industries, Inc. over statements that may or may not be linked to its efforts against short sellers (see separate story).
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. |
