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Technology Stocks : Front Porch Digital (FPDI) -- Ignore unavailable to you. Want to Upgrade?

To: cmg who wrote (16)	5/27/2004 4:32:53 PM
From: Kirk ©	Respond to of 20

I posted yesterday here suite101.com an interesting idea about taking advantage of the naked shorts... "There could be an interesting arbitrage play here... buy the stocks on the Berlin Exchange that are not supposed to be there... " Today I added to FPDI to try and take advantage of this I bought some FPDI today at $0.42 (I added to a position established a bit higher, but still well under $1) Press Release Source: Front Porch Digital, Inc. Front Porch Digital Moves to Protect Shareholder Interests Thursday May 27, 8:49 am ET Berlin-Bremen Stock Exchange Removes Unauthorized Front Porch Listing MT. LAUREL, N.J., May 27 /PRNewswire-FirstCall/ -- Front Porch Digital, Inc. (OTC Bulletin Board: FPDI - News) today announced that it has completed the removal of the unauthorized listing of its stock from the Berlin-Bremen Stock Exchange (BBSE). The BBSE, without the knowledge, approval or cooperation of Front Porch officers or directors, had listed the Company's stock since March 1 of this year. After confirming the existence of the listing, Front Porch and its securities attorneys demanded a cease and desist in trading and the immediate de-listing from the BBSE. The BBSE agreed to comply, and yesterday removed the Front Porch stock from the exchange. "We believe we are building real value in this Company, and Management will take action to protect the interests of our shareholders," said Front Porch CEO, Mike Knaisch. "For instance, one reason we selected Laurus Funds for our recent financing is that they specifically agreed in our financing agreements not to engage in any shorting of our common stock or hedging activities utilizing our common stock." "<font color=red>The unauthorized BBSE listing enabled trading beyond the reach of SEC regulations and possibly exposed the company to naked shorting </font>of our stock. We could not allow it to stand," Knaisch continued. "Front Porch has retained counsel to evaluate appropriate legal remedies against the domestic and foreign parties responsible for the unauthorized BBSE listing and related trading. I want our shareholders to know that we take this matter very seriously, and we will remain vigilant against any future efforts to undermine the integrity of our stock." Front Porch Digital Forward Looking Statements: This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which reflect Front Porch Digital's current views with respect to future events and financial performance. Such statements are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated from such forward-looking statements. The potential risk factors include Front Porch Digital's limited operating history and experience in the data and video digital conversion business, Front Porch Digital's ability to attract significant additional financing and incur operational losses and negative cash flow, and risks associated with expansion. Additional risk factors are set forth in Front Porch Digital's reports and documents filed with the Securities and Exchange Commission. Contact: Mike Knaisch, Chief Executive Officer Front Porch Digital, Inc. (303) 440-7122 mike.knaisch@fpdigital.com -------------------------------------------------------------------------------- Source: Front Porch Digital, Inc.