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BUYINS.NET: PBKS, RVEP, VRUS, IGPG, WHDCF, EYII Have Also Been On
BUYINS.NET Naked Short List For 13 Consecutive Trading Days
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:15072008
BUYINS.NET, www.buyins.net, announced today that these select companies
have been on the NASDAQ, AMEX and NYSE naked short threshold list for
13 consecutive trading days: Provident Bankshares Corp. (NASDAQ: PBKS),
Rio Vista Energy Partners L.P. (NASDAQ: RVEP), Pharmasset Inc. (NASDAQ:
VRUS), Ignis Petroleum Group Inc. (OTCBB: IGPG), West Hawk Development
Corp. (OTC: WHDCF), EYI Industries Inc. (OTC: EYII). For a complete
list of companies on the naked short list please visit our web site. To
find the SqueezeTrigger Price before a short squeeze starts in any
stock, go to www.buyins.net.
Regulation SHO took effect January 3, 2005, and provides a new
regulatory framework governing short selling of securities. It was
designed with the objective of simplifying and modernizing short sale
regulation and providing controls where they are most needed. At the
conclusion of each settlement day, data is provided on securities in
which: 1) there are at least 10,000 shares in aggregate failed
deliveries for the security for five consecutive settlement days, and
2) these failures constitute at least 0.5% of the issuer's total shares
outstanding. Regulation SHO mandates that, if a clearing agent has had
a fail-to-deliver position for 13 consecutive settlement days, that
clearing agent, and the broker/dealer it clears for, must purchase
securities to close out its fail to deliver position.
Provident Bankshares Corp. (NASDAQ: PBKS) operates as the holding
company for Provident Bank, which provides commercial banking services
to individuals and businesses. The company's deposit accounts include
noninterest-bearing, interest-bearing demand, money market, savings,
direct time certificates of deposits, and brokered certificates of
deposits. Its consumer loan products include installment loans secured
by real estate, boats, automobiles, home equity lines, and unsecured
personal lines of credit; commercial real estate loan products comprise
commercial and residential construction loans, as well as
intermediate-term commercial mortgages; commercial business lending
products consist of term loans, equipment leases, and revolving lines
of credit for the purpose of current asset financing, equipment
purchases, owner occupied real estate financing, and business
expansion; and non-performing assets and delinquent loans include
non-accrual loans, renegotiated loans, and real estate and other assets
that have been acquired through foreclosure or repossession. The
company also provides securities brokerage, investment management, and
related insurance services; and telephone and Internet banking
services. As of December 31, 2007, it served various customers in the
areas of Baltimore, Washington, and Richmond through a network of 143
banking offices and 242 ATMs in Maryland and Virginia, as well as in
southern York County, Pennsylvania. The company was founded in 1886 and
is based in Baltimore, Maryland. With 33.15 million shares outstanding
and 7.11 million shares declared short as of May 2008, the failure to
deliver in shares of PBKS has not been resolved and a buy-in is
imminent. According to quarterly data provided by the SEC, there were
still 77,588 shares of PBKS that were failing-to-deliver as of
September 20, 2007.
Rio Vista Energy Partners L.P. (NASDAQ: RVEP) engages in the
acquisition, development, and production of oil and natural gas
properties. The company also involves in the transportation and
terminalling services. In addition, it provides storage,
transportation, and railcar transloading of bulk liquids, including
chemical and petroleum products. Rio Vista GP LLC serves as the general
partner of the company. Rio Vista Energy Partners was founded in 2003
and is headquartered in Houston, Texas. With 2.52 million shares
outstanding and 400 shares declared short as of May 2008, the failure
to deliver in shares of RVEP has not been resolved and a buy-in is
imminent. According to quarterly data provided by the SEC, there were
still 10,734 shares of RVEP that were failing-to-deliver as of August
7, 2007.
Pharmasset Inc. (NASDAQ: VRUS) a clinical-stage pharmaceutical company,
focuses on discovering, developing, and commercializing drugs to treat
viral infections. Its primary focus is on the development of oral
therapeutics for the treatment of hepatitis B virus (HBV), hepatitis C
virus (HCV), and human immunodeficiency virus (HIV). The company has
three product candidates under development, which include Clevudine, an
oral, once-daily pyrimidine nucleoside analog, which is under Phase III
clinical trials for the treatment of chronic HBV infection; R7128, a
pro-drug of PSI-6130 in Part 3 of a Phase I clinical trial for the
treatment of HCV, through a collaboration with F. Hoffmann-LaRoche,
Ltd. and Hoffmann-La Roche, Inc.; and Racivir, an oral, once-daily
cytidine nucleoside analog, which has completed a Phase II clinical
trial for the treatment of HIV. In addition, the company engages in the
development of DFC, an oral, once-daily deoxycytidine nucleoside
analog, for the treatment of HIV. Pharmasset, Inc. was founded in 1998
and is headquartered in Princeton, New Jersey. With 21.29 million
shares outstanding and 433,100 shares declared short as of May 2008,
the failure to deliver in shares of VRUS has not been resolved and a
buy-in is imminent.
Ignis Petroleum Group Inc. (OTCBB: IGPG) engages in the exploration,
development, and production of crude oil and natural gas properties in
the United States onshore Gulf Coast region. The company primarily has
a 25% working interest in the Acom A-6 Prospect located in Chambers
County, Texas. It also holds a 12.5% working interest in the Barnett
Shale Property covering three wells located in the Barnett Shale trend
in Greater Fort Worth Basin, Texas. In addition, the company, through
its joint venture, owns 45% of the interests in the acreage, oil and
natural gas producing properties, and natural gas gathering and
treating system located in the St. Jo Ridge Field in the North Texas
Fort Worth Basin. Ignis Petroleum Group was founded in 2004 and is
based in Plano, Texas. With 57.84 million shares outstanding and
293,900 shares declared short as of May 2008, the failure to deliver in
shares of IGPG has not been resolved and a buy-in is imminent.
According to quarterly data provided by the SEC, there were still
10,458 shares of IGPG that were failing-to-deliver as of September 27,
2007.
West Hawk Development Corp. (OTC: WHDCF) engages in the natural gas
production, and exploration and development of coal resource properties
for coal gasification and coal-to-liquids projects primarily in Canada.
The company owns a 100% interest in Northwest Territories Coal Licenses
comprising 8 coal property licenses located in the Northwest
Territories; a 100% interest in Nunavut Coal Licenses consisting of 7
coal property licenses located in Nunavut; and a right to acquire a 75%
interest in 10 coal exploration licenses with respect to properties
located in the Omineca and Skeena mining districts of British Columbia,
known as the Groundhog Coal Field. It also has a drilling and
development agreement with Encana Oil & Gas (USA), Inc. regarding the
Figure Four Ranch property located in Garfield and Rio Blanco Counties
in Colorado, the United States. The company was incorporated in 1984
and is based in Vancouver, Canada. With 68.4 million shares outstanding
and an undisclosed short position, the failure to deliver in shares of
WHDCF has not been resolved and a buy-in is possible. According to
quarterly data provided by the SEC, there were still 16,928 shares of
WHDCF that were failing-to-deliver as of September 28, 2007.
EYI Industries Inc. (OTC: EYII) through its subsidiaries, engages in
the sale, marketing, and distribution of dietary supplements, personal
care products, water filtration systems, and fuel additive products in
the United States, Canada, and southeast Asia. Its dietary supplement
products include herbs, vitamins, minerals, and other natural
ingredients. The company also provides personal care products to
stimulate, moisturize, and nourish to bio-illuminate skin; and natural
herbal products designed to feed and nurture the female breast. In
addition, it offers water filtration systems to reduce arsenic,
chlorine, nitrates, nitrites, mercury, and other contaminants from
potable water; and fuel additive products to reduce fuel consumption
and emissions. The company also sells various educational and
promotional materials, including sales aids, informational DVD's,
videotapes and cassette recordings, and product and marketing
brochures. EYI Industries offers its products through network marketing
distributors, as well as directly and through affiliates. The company
was incorporated in 2002 and is based in Burnaby, Canada. With 842.27
million shares outstanding and 20,000 shares declared short as of May
2008, the failure to deliver in shares of EYII has not been resolved
and a buy-in is imminent. According to quarterly data provided by the
SEC, there were still 29,568 shares of EYII that were
failing-to-deliver as of September 28, 2007.
About BUYINS.NET
WWW.BUYINS.NET is a service designed to help bonafide shareholders of
publicly traded US companies fight naked short selling. Naked short
selling is the illegal act of short selling a stock when no affirmative
determination has been made to locate shares of the stock to
hypothecate in connection with the short sale. Buyins.net has built a
proprietary database that uses Threshold list feeds from NASDAQ, AMEX
and NYSE to generate detailed and useful information to combat the
naked short selling problem. For the first time, actual trade by trade
data is available to the public that shows the attempted size, actual
size, price and average value of short sales in stocks that have been
shorted and naked shorted. This information is valuable in determining
the precise point at which short sellers go out-of-the-money and start
losing on their short and naked short trades.
BUYINS.NET has built a massive database that collects, analyzes and
publishes a proprietary SqueezeTrigger for each stock that has been
shorted, www.buyins.net/squeezetrigger.pdf. The SqueezeTrigger database
of nearly 2,050,000,000 short sale transactions goes back to January 1,
2005, and calculates the exact price at which the Total Short Interest
is short in each stock. This data was never before available prior to
January 1, 2005, because the Self Regulatory Organizations (primary
exchanges) guarded it aggressively. After the SEC passed Regulation
SHO, exchanges were forced to allow data processors like Buyins.net to
access the data.
The SqueezeTrigger database collects individual short trade data on
over 7,000 NYSE, AMEX and NASDAQ stocks and general short trade data on
nearly 8,000 OTCBB and PINKSHEET stocks. Each month the database grows
by approximately 50,000,000 short sale transactions and provides
investors with the knowledge necessary to time when to buy and sell
stocks with outstanding short positions. By tracking the size and price
of each month's short transactions, BUYINS.NET provides institutions,
traders, analysts, journalists and individual investors the exact price
point where short sellers start losing money.
All material herein was prepared by BUYINS.NET, based upon information
believed to be reliable. The information contained herein is not
guaranteed by BUYINS.NET to be accurate, and should not be considered
to be all-inclusive. The companies that are discussed in this opinion
have not approved the statements made in this opinion. This opinion
contains forward-looking statements that involve risks and
uncertainties. This material is for informational purposes only and
should not be construed as an offer or solicitation of an offer to buy
or sell securities. BUYINS.NET is not a licensed broker, broker dealer,
market maker, investment banker, investment advisor, analyst or
underwriter. Please consult a broker before purchasing or selling any
securities viewed on or mentioned herein. BUYINS.NET may receive
compensation in cash or shares from independent third parties or from
the companies mentioned.
BUYINS.NET affiliates, officers, directors and employees may also have
bought or may buy the shares discussed in this opinion and may profit
in the event those shares rise in value. IGPG has previously paid a
$1,495.00 data fee to BUYINS.NET. Market commentary provided by Thomas
Ronk.
BUYINS.NET will not advise as to when it decides to sell and does not
and will not offer any opinion as to when others should sell; each
investor must make that decision based on his or her judgment of the
market.
This release contains "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section
21E the Securities Exchange Act of 1934, as amended and such
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
"Forward-looking statements" describe future expectations, plans,
results, or strategies and are generally preceded by words such as
"may", "future", "plan" or "planned", "will" or "should", "expected,"
"anticipates", "draft", "eventually" or "projected". You are cautioned
that such statements are subject to a multitude of risks and
uncertainties that could cause future circumstances, events, or results
to differ materially from those projected in the forward-looking
statements, including the risks that actual results may differ
materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a companies'
annual report on Form 10-K or 10-KSB and other filings made by such
company with the Securities and Exchange Commission.
You should consider these factors in evaluating the forward-looking
statements included herein, and not place undue reliance on such
statements. The forward-looking statements in this release are made as
of the date hereof and BUYINS.NET undertakes no obligation to update
such statements.
CONTACT: Thomas Ronk, CEO, BUYINS.NET
Tel: +1 800 715 9999
e-mail: Tom@buyins.net
WWW: http://www.buyins.net
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