I just pulled this off of Raging Bull. Art2Gecko does some excellent DD and analysis on the short issue concerning USHO.
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By: Art2Gecko
Reply To: None
Saturday, 29 Jan 2000 at 2:56 PM EST
Post # of 4562
OK, here is my take on the situation?. This all seems to revolve around SMMI (Sanders Morris Mundy Inc., 3100 Chase Tower Houston, Texas 77002 (713) 224-3100 ) now we all know that SMMI owns 19,094,479 shares, per the 6/30/99 transaction , but here?s actually what they control both directly and indirectly?
BENEFICIAL OWNER AGGREGATE NUMBER CLASS PERCENTAGE SHARES OWNED OF CLASS Corporation 19,094,479 (1) Common 49.63% Corporation 247,231 Convt. Pfrd. 49.63% Michael Chadwick 2,324 Common .005% George Ball 31,093 Common .07% Ben Morris 5,825 Common .01% John Drury 121,380 Common .28% Bruce McMaken 58,641 Common .17% Bruce McMaken 750
Convt. Pfrd. .17% Don Sanders 2501 Warrants 1.15% Don Sanders 278,848 (2) Common 1.15% Don Sanders 214,365 (3) Common 1.15% Don Sanders 7,767 (4) Common 1.15%
Which can be found at this link :
freeedgar.com
Now what?s very interesting is the following?The scenario is that some time ago, SMMI, or some entity acting in SMMI?s interest began shorting the stock, and yes, even at .01 and .02 money can be made shorting, also shares can be purchased cheaper at shorted levels too.
So now check this out. Say for argument?s sake that this entity has shorted majorly in the interest of SMMI? now if you will look here:
otcbb.com
you will see that SMMI was the number one MM with a volume of 11,752,280 for the month of december? now, if you will look here :
edreyfus.com
and focus on the date of 12/21/99 you will see this was the low point of the month, and this was where all SMMI?s volume in december (per the previous link took place) I recommend you request the T&S report for 12/21/99 from the SEC for yourself to verify this otcbb.com
but I?ll post part of it here :
12/21/1999 09:30:59 S 1,000 0.01
09:34:13 B 750 0.009
09:38:37 S 15,000 0.01
09:39:32 S 15,000 0.01
09:39:56 S 15,000 0.01
11:04:42 S 10,000 0.009
11:05:50 S 10,000 0.009
11:06:14 S 25,000 0.009
11:06:14 B 25,000 0.009 NO
11:06:26 B 25,000 0.009
11:30:38 S 10,000 0.005
11:32:41 S 30,000 0.005
11:34:23 S 10,000 0.005
11:35:05 S 10,000 0.005
11:40:18 S 10,000 0.005
11:43:56 S 20,000 0.003
11:46:21 S 250,000 0.002
12:01:16 B 1,000 0.002
12:27:54 S 100,000 0.002
13:39:18 S 5,000 0.005
13:39:24 S 5,000 0.005
14:22:17 S 500,000 0.001 O NO C
14:22:34 S 500,000 0.001 O NO C
14:22:40 S 1,000,000 0.001
14:54:14 S 20,000 0.001
14:58:37 S 1,000,000 0.001
15:02:21 S 1,000,000 0.001
15:02:21 S 0 0.001 NO
15:04:08 S 25,000 0.001
15:07:15 S 5,000 0.001
15:14:16 S 4,000,000 0.0002
15:18:11 S 1,000,000 0.0002
15:33:21 S 5,000 0.003
15:33:44 S 5,000 0.003
15:40:13 S 100,000 0.003
15:40:13 S 100,000 0.003
15:40:52 B 300 0.0002
15:42:15 S 70,000 0.003
15:42:16 S 70,000 0.003
15:42:38 S 30,000 0.003
15:53:28 S 50,000 0.003
15:53:28 S 50,000 0.003
15:56:13 S 300,000 0.003
15:56:37 S 300,000 0.003
15:57:34 B 1,887,559 0.00025
16:06:23 B 350 0.009 T T
Very interesting that SMMI should be buying back 1.8 MM at 15:57:34 eh? Just under the amount of shares which requires reporting (5% of OS)?.. If this wasn?t orchestrated, who in their right mind would sell 1.88MM shares back at 50 times less than what it opened at that very same day.. and look at all the blocks at .001 and .0002!! tell me that?s not SMMI selling to it?s shorting partner acting in
it?s interest?
No way man? There was definite short covering going on, and they probably still have a major short position, I?m sure they?ve been shorting on the way up, (averaging up), but nonetheless, they have a huge interest in seeing lower levels to cover?
Continued buying interest is hurting them, and the possibility of covering their shorts at a reasonable level for them?
I think what happened is that their volume got USHO noticed on 12/21/99 and they didn?t count on the interest continuing and the price rising like it has?..
Yes the company has some debt to work out, but they have revenues and an increasing EPS, although at last filing still negative? the point is?. This recent PR and bashing just had to be an orchestration for these guys to cover?.
There are complete shells which have a bigger market cap than USHO, which is an ACTUAL business with ~45Mil in revs, and a CEO who has a vested interest in seeing this company turn around and succeed..
I ain?t selling my shares for quite some time? with continued buying interest this is going to get very, very interesting! |
