I had asked the company (a few days ago) to look into the issue of a certificate call both from a practicle and a legal standpoint. I had also at that time asked for assistance with some langauge and a possible draft. I will cut and paste the response in its entirety for everyone to see, but first I want to extend my thanks to Monte Christo for the time and effort he has put into a response. I intend to blend the two together and then run it by you all. I will then send a copy to the company to be distrbuted to their fax list of shareholders. I am further going to request if practicle (and legal/resonable) that they, at my exspense send it to the Newswire. If anyone has a problem,question,suggestion by all means speak up. This thread is for everyone. AND NOW WITHOUT FURTHER DELAY!
Dear Glen,
Here is a draft message to LifeOne shareholders. You are welcome to add
language around the body, but I would ask that you keep the two main
paragraphs as they are unless someone recognizes an error or omission that
we didn't catch. Let me know if you need anything further. If enough shares
are cornered, we should be able to see that effect in the stock price, and
we should get a report from the transfer agent of the number of shares held
in certificate. Good luck to us all.
Jayne
Dear LifeOne Investor:
As you probably know, LifeOne has been the target of short sellers, some of
whom are believed to have malicious intent towards the company. While short
selling is not normally illegal, massive short selling with intent to
manipulate the stock is illegal. The company and certain individual
shareholders filed a stock manipulation lawsuit against individuals and
entities believed to have engaged in illegal short selling of LifeOne stock
for egregious profits. That lawsuit is ongoing. Nonetheless, we believe
targeted short selling is still in practice for the purpose of intentionally
depressing LifeOne's stock price.
A group of LifeOne shareholders is organizing an effort to remove shares
from the brokers or market makers who might loan shares to the shorters.
Brokers or market makers loan shares to their customers or other market
makers who want to short the stock. If a large number of shareholders who
hold stock at brokerage houses ask for their shares in certificate form, the
stock would not be available for shorters to borrow. If your shares have
been loaned to a shorter and you ask for your shares in certificate form,
the shorter will have to cover his position. This could force the shorter to
buy shares in the market to cover the short position, which will result in
an increase in stock price. Additionally, if enough shares have been
transferred to certificate form, the shorters won't be able to find enough
shares to short the stock again.
The company is supportive of this effort to protect the value of LifeOne
shares.
We should mention one caveat. If debenture holders have somehow been able to
accomplish illegal naked shorting off-shore (outside the U.S.), a call for
certificates may not have the desired effect. The company has no way of
knowing if naked shorting has occurred off-shore.
Enjoy and goodnight! Thanks for everyones help.
Glen
P.S. Please excuse the spelling in my part, its late. |
