The LIST is growing. NPCT is mentioned here, in the next to last paragraph.
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Lifeline Joins 'Short Seller Wars," Trezac Adds Consultant
May 9, 2003 (financialwire.net via COMTEX) -- (FinancialWire) Add Lifeline BioTechnologies (OTC: LBTI) to what is now a list of 93 companies embroiled in an ever-growing national scandal over illegal manipulative trading, 80 of whose unsuspecting shareholders have been alleged to have been victimized by predatory financiers, unregulated offshore hedge funds, organized crime, conspiring market makers, and others who prey on the edges of the financial market, relying on a more and more discredited electronic trading system managed by the Depository Trust and Clearing Corp. to keep the settlements in sufficient disarray to hide their mostly illegal activities.
At the same time, Trezac International Corporation (OTCBB: TREZ) has confirmed that its common stock is “not eligible for DTC electronic transfer within the DTCC system," and who has retained Geneva-based specialist European Launch Pad SA (ELP), a Swiss private investment firm that specializes in Euro-American relationships, cross currency equity transactions and exotic business strategies to protect it against exotic short-seller strategies.
Lifeline's CEO Jim Holmes said the company will reverse split its shares 200 to 1 May 20, after which there will be 82 million shares issued. He said the consolidation is to modify the company's capital structure, noting the shares had been issued previously to finance the company's operations.
“An issue Lifeline's management has been attempting to deal with is the 'Short Sellers' in its common stock, particularly the 'Naked Short Sellers,' notorious in the Over The Counter market," said Holmes. “Lifeline believes that Naked Short Sellers have continued to hurt the price of the company's common stock, even though Lifeline has been making meaningful progress. Much more is coming to light about the activities of these Naked Short Sellers as is evidenced by the increase in lawsuits attempting to remove this detrimental activity to a company's public market. This is apparent as Lifeline has made meaningful progress in recent months, but has failed to see the price of its stock strengthen."
Holmes noted as a result of the reverse split NASDAQ will assign a new trading symbol to Lifeline, so that shareholders will need to submit their certificates to be replaced no later than July 15.
Trezac's agreement calls for a strategic arbitrage market plan to be implemented with immediate effect in Europe and USA. ELP has been active in stabilizing markets for a number of public companies through, among other things, defensive strategies for “short busting" or confronting improper naked short selling., according to Trezac.
“ELP's specific task is to reduce legitimate shareholder risk in general market trading," the company said.
The company noted that Trezac is one of the few companies whose common stock is no longer DTC eligible, yet the common stock trades in T+3 settlement with all share transfers between clearing firms and owners being managed "in book entry, physical certificate form only" by its stock transfer agent.
In all, some 93 public companies are associated on one side or the other of the issue. Some thirteen on the list, such as A.G. Edwards, Inc. (NYSE: AGE), Ameritrade Holding Corp. (NASDAQ: AMTD), Deutsche Bank AG (NYSE: DB), E*Trade Group, Inc. (NYSE: ET), FleetBoston (NYSE: FBF), Goldman, Sachs & Co. (NYSE: GS), Knight Securities, LP (NASDAQ: NITE), Ladenburg Thalmann & Co., Inc. (AMEX: LHS), M. H. Myerson & Co., Inc. (NASDAQ: MHMY), Olde / H&R Block (NYSE: HRB), Charles Schwab (NYSE: SCH), Toronto-Dominion's (NYSE: TD), TD Waterhouse Group and vFinance, Inc. (OTCBB: VFIN), have been accused by one or more public companies as allegedly participating in short selling activities or abuses.
The remaining 80 companies have issued press releases or been named in press releases as taking various actions, either alone or in concert with other companies, to oppose manipulative trading in the form of illegal naked short selling. The actions have ranged from lawsuits to withdrawals and threatened withdrawals from the electronic trading system managed by the Depository Trust & Clearing Corp., to withdrawals from toxic financings, to the issuance of dividends or name changes designed to squeeze manipulators, to joining associations or networks or to contacting regulatory authorities to provide documentation of abuses or otherwise complain.
The complete list of those 80 companies include AdZone Research, Inc. (OTCBB: ADZR), American Ammunition, Inc. (OTCBB: AAMI), ATSI Communications, Inc. (OTC: ATSC), Federal Agricultural Mortgage Corp. “Farmer Mac" (NYSE: AGM), Allied Capital (NYSE: ALD), American Motorcycle (OTC: AMCYV), American International Industries (OTCBB: AMIN), Ameri-Dream (OTC: AMDR), Adirondack Pure Springs Mt. Water Co. (OTCBB: APSW), Auxer Group, Inc. (OTCBB: AXGI), Bluebook International (OTCBB: BBIC), Blue Industries (OTCBB: BLIIV), Bentley Communications (OTCBB: BTLY), BIFS Technologies
Corporation (OTCBB: BIFT), Biocurex (OTCBB: BOCX). Chattem, Inc. (NASDAQ: CHTT), Critical Home Care (OTCBB: CCLH), Composite Holdings (OTC: COHIA), Eagle Tech Communications (OTC: EATC), Edgetech Services (OTCBB: EDGH);
Also, Endovasc Ltd. (OTCBB: EVSC), Enviro-Energy Corporation (OTCBB: ENGY), Environmental Products & Technologies (OTC: EPTC), Flight Safety Technologies (OTCBB: FLST), Freddie Mac (NYSE: FRE), FreeStar Technologies (OTCBB: FSRCE), Genesis Intermedia (OTC: GENI), GeneMax Corp. (OTCBB: GMXX), Global Path (OTCBB: GBPI), Group Management (OTCBB: GPMT), Hop-On (OTC: HPON), H-Quotient, Inc., (OTCBB: HQNT), Hyperdynamics Corp. (OTCBB: HYPD), International Biochem (OTCBB: IBCL), Intergold Corp. (OTCBB: IGCO), InternetStudios, Inc. (OTCBB: ISTO), ITIS Holdings (OTCBB: ITHH), Jag Media Holdings (OTCBB: JGMHA), James Barclay Alan, Inc. ((OTC: JBAI), Lair Holdings (OTCBB: LAIR), Lifeline BioTechnologies Inc. (OTC: LBTI), Life Energy & Technology (OTCBB: LETH), MBIA (NYSE: MBI);
Also, MetaSource Group, Inc. (OTCBB: MTSR), Midastrade.com (OTC: MIDS), Make Your Move (OTCBB: MKMV), MSM Jewelry Corp. (OTC: MSMJ), Nanopierce Technologies, Inc. (OTCBB: NPCT), Nutra Pharmaceutical (OTCBB: NPHC), Nutek (OTCBB: NUTK), Navigator Ventures (OTCBB: NVGC), Pitts & Spitts (OTCBB: PSPP), Sales OnLine Direct (OTCBB: PAID), Pacel Corp. (OTCBB: PACC), PayStar Corporation (OTCBB: PYST), Petrogen Corp. (OTCBB: PTGC), Premier Development & Investment, Inc. (OTCBB: PDVN), PrimeHoldings.com, Inc. (OTC: PRIM), Resourcing Solutions (OTC: RESG), Reed Holdings (OTC: RDHC), Rocky Mountain Energy Corp. (OTCBB: RMEC), RTIN Holdings (OTCBB: RTNH), Saflink Corp. (NASDAQ: SFLK), Safe Travel Care (OTCBB: SFTV), Sedona Corp. (OTCBB: SDNA);
Also, Sionix Corp. (OTCBB: SINX), Starmax Technologies (OTC: SMXIF), Suncomm Technologies (OTC: STEH), Sports Resorts International (NASDAQ: SPRI), Technology Logistics (OTC: TLOS), Ten Stix, Inc. (OTCBB: TNTI), Tidelands Oil (OTCBB: TIDE), Trezac Corp. (OTCBB: TREZ), Universal Express, Inc. (OTCBB: USXP), US West Homes (OTCBB: USWH), Vega Atlantic (OTCBB: VGAC), Vista Continental Corporation, (OTCBB: VICC), Vtex Energy (OTCBB: VXENE) and Wizzard Software (OTCBB: WIZD).and WorldTradeShow.com (OTC: WTSW). |
