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BUYINS.NET: ELON, IAAC, PGLA, SGXP, SONS, STEC Have Also Been Removed
From Naked Short List Today
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:21082008
BUYINS.NET, www.buyins.net, announced today that these select companies
have been removed from the NASDAQ, AMEX and NYSE naked short threshold
list: Echelon Corp. (NASDAQ: ELON), International Assets Holding Corp.
(NASDAQ: IAAC), Progen Pharmaceuticals Ltd. (NASDAQ: PGLA), SGX
Pharmaceuticals Inc. (NASDAQ: SGXP), Sonus Networks Inc. (NASDAQ:
SONS), STEC Inc. (NASDAQ: STEC). 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.
Echelon Corp. (NASDAQ: ELON) develops, markets, and sells a range of
hardware and software products and services that enable original
equipment manufacturers and systems integrators to design and implement
open, interoperable, and distributed control networks. It primarily
offers a suite of network infrastructure products, LonWorks
Infrastructure product line, including transceivers, control modules,
routers, network interfaces, development tools, and software tools and
toolkits to original equipment manufacturers in the building, home,
industrial, transportation, and other automation markets. The company
also provides networked energy services system that offers a two-way
information and control path between the utility and its customer to
the electric utility industry; and i.LON Internet server family of
products, which provide Internet interface and local control capability
for remote devices and systems to the system integrators serving the
street lighting, remote facility monitoring, and energy management
markets. Echelon Corporation sells and markets its products and
services through direct sales organization, distributors, value-added
resellers, and integration partners in North and South America, Europe,
Japan, the People's Republic of China, and the Asia Pacific. The
company was founded in 1988 and is headquartered in San Jose,
California. With 40.84 million shares outstanding and 6.15 million
shares declared short as of July 2008, there is no longer a failure to
deliver in shares of ELON. According to quarterly data provided by the
SEC, there were still 84,032 shares of ELON that were
failing-to-deliver as of September 26, 2007.
International Assets Holding Corp. (NASDAQ: IAAC) through its
subsidiaries, provides various financial services to investment banks,
commercial banks, brokers, institutional investors, corporations,
charities, and governmental organizations worldwide. Its International
Equities Market-Making segment acts as a wholesale market maker in
select foreign securities, including unlisted American depository
receipts and foreign ordinary shares. It also provides execution
services and liquidity to national broker-dealers, regional
broker-dealers, and institutional investors. The company's
International Debt Capital Markets segment trades various international
debt instruments, such as investment grade and emerging market bonds
that trade on an over-the-counter basis. It also arranges, structures,
and distributes international debt transactions, which include bond
issues, syndicated loans, and asset-backed securitizations, as well as
forms of other negotiable debt instruments for issuers located
primarily in emerging markets. International Assets Holding's Foreign
Exchange Trading segment trades illiquid currencies of developing
countries; executes trades based on the foreign currency flows; and
acts as a principal in buying and selling foreign currencies on a spot
basis. Its customers include financial institutions, multi-national
corporations, and governmental and charitable organizations operating
in developing countries. The company's Commodities Trading segment
provides a range of trading and hedging capabilities to select
producers, consumers, recyclers, and investors in precious metals and
certain base metals. Its Asset Management segment manages third party
assets and investment gains or losses on the company's investments in
registered funds or proprietary accounts managed either by the
company's investment managers or by independent investment managers.
The company was founded in 1987 and is based in Altamonte Springs,
Florida. With 8.56 million shares outstanding and 487,300 shares
declared short as of July 2008, there is no longer a failure to deliver
in shares of IAAC. According to quarterly data provided by the SEC,
there were still 24,683 shares of IAAC that were failing-to-deliver as
of September 19, 2007.
Progen Pharmaceuticals Ltd. (NASDAQ: PGLA) is a globally focused
biotechnology company committed to the discovery, development and
commercialization of small molecule pharmaceuticals primarily for the
treatment of cancer. Progen has built a focus and strength in
anti-cancer drug discovery and development. Progen targets the multiple
mechanisms of cancer across its three technology platforms,
angiogenesis, epigenetics and cell proliferation. Progen has operations
in Australia and the US. With 59.42 million shares outstanding and
7,000 shares declared short as of July 2008, there is no longer a
failure to deliver in shares of PGLA. According to quarterly data
provided by the SEC, there were still 110,002 shares of PGLA that were
failing-to-deliver as of September 28, 2007.
SGX Pharmaceuticals Inc. (NASDAQ: SGXP) a biotechnology company,
focuses on the discovery, development, and commercialization of
therapeutics for addressing unmet medical needs in oncology. The
company's product pipeline includes drug candidates from its FAST drug
discovery platform, which uses X-ray crystallography and complementary
biophysical and biochemical methods, combined with medicinal and
computational chemistry. Its drug development programs target the c-MET
receptor tyrosine kinase (MET), an enzyme implicated in an array of
cancers; and the BCR-ABL tyrosine kinase enzyme for the treatment of
chronic myelogenous leukemia (CML), a bone marrow cancer. Under the MET
development program, the company develops SGX523, which is in Phase I
clinical development studies for solid tumor indications; and SGX126, a
preclinical development product for solid tumors indications. Under the
BCR-ABL Development Program, SGX Pharmaceuticals develops SGX393, an
oral therapy for the second-line treatment of CML, which is in
preclinical development studies. Its drug discovery technologies are
also applied to a portfolio of oncology targets, including JAK2, a
non-receptor tyrosine kinase involved in cytokine-induced signaling and
growth regulation, survival, and differentiation of cells; RAS, a
protein that regulates cell growth; and three other tyrosine kinases.
The company has a license and collaboration agreement with Novartis
Institutes for Biomedical Research, Inc., Cystic Fibrosis Foundation
Therapeutics, Inc., National Institutes of Health, and Eli Lilly &
Company. SGX Pharmaceuticals, formerly known as Structural GenomiX,
Inc., was founded in 1998 and is headquartered in San Diego,
California. As of August 20, 2008, SGX Pharmaceuticals, Inc. operates
as a subsidiary of Eli Lilly & Co. With 20.65 million shares
outstanding and 88,600 shares declared short as of July 2008, there is
no longer a failure to deliver in shares of SGXP.
Sonus Networks Inc. (NASDAQ: SONS) provides voice infrastructure
solutions for wireline and wireless service providers. Its products are
infrastructure equipment and software that enable voice services to be
delivered over Internet protocol (IP) packet-based networks and are
built on the distributed, IP-based principles embraced by the IP
Multimedia Subsystem (IMS) architecture. The company's IMS-based
solution product suite includes GSX9000 Open Services Switch to enable
voice traffic to be transported over packet networks; GSX4000 Open
Services Switch that delivers carrier-class functionality and
manageability; Network Border Switch that provides IP-to-IP border
control and PSTN media gateway integrating security, session control,
and media control; PSX Call Routing Server to provide network
intelligence, such as call control, service selection, and routing; and
SGX Signaling Gateway that provides SS7 solution for its IMS
architecture that interconnects packet solutions with SS7 networks. It
also offers ASX Feature Server to provide local area calling features
for residential and enterprise markets; IMX Application Platform to
develop, integrate, launch, and manage telecommunication applications
and services; and Insight Management System to operate carrier-class
packet voice networks. Further, the company provides global system for
mobile communications infrastructure solutions; and network
installation, system integration and testing, technical support, and
educational services on the installation, operation, and maintenance of
its equipment. Its customers include long distance and local exchange
carriers, Internet service providers, wireless operators, cable
operators, international telephone companies, and carriers that provide
services to other carriers. The company sells its products in the
United States, Europe, the Middle East, Africa, Japan, and the
Asia-Pacific. Sonus Networks, Inc. was founded in 1997 and is
headquartered in Westford, Massachusetts. With 271.14 million shares
outstanding and 32.17 million shares declared short as of July 2008,
there is no longer a failure to deliver in shares of SONS. According to
quarterly data provided by the SEC, there were still 1,371,137 shares
of SONS that were failing-to-deliver as of September 28, 2007.
STEC Inc. (NASDAQ: STEC) designs, develops, manufactures, and markets
custom memory solutions based on flash memory and dynamic random access
memory (DRAM) technologies in the United States and internationally.
Its flash products include ZeusIOPS solid state drives that provide
enterprise-class data storage solutions; Zeus solid state drives, which
are designed to meet the data storage requirements of a range of
industries, including defense and aerospace, automotive and
transportation, industrial, and communications industries; MACH solid
state drives, which are small form factor storage solution for
mission-critical systems in a variety of industries; ATA PC cards for
equipment requiring standard form factors and moderate capacities, such
as data recorders, avionics systems, and telecommunication
applications; CompactFlash products that provide interoperability with
systems based on the PC Card ATA standard by using passive adapter;
secure digital memory cards; MMCPlus memory cards; USB flash drive; and
single chip drives. The company also offers DRAM products, which
include dual in-line memory modules (DIMMs), small-outline DIMMs,
mini-registered DIMMs (mini-RDIMMs), very low profile RDIMMs, and
fully-buffered DIMMs or FB-DIMMs for computing, communications, and
industrial applications. STEC markets its products through
manufacturers' representatives, and original equipment manufacturer
distributors. STEC, Inc. was formerly known as SimpleTech, Inc. and it
changed its name in March, 2007. The company was founded in 1990 and is
based in Santa Ana, California. With 49.27 million shares outstanding
and 9.57 million shares declared short as of July 2008, there is no
longer a failure to deliver in shares of STEC. According to quarterly
data provided by the SEC, there were still 13,040 shares of STEC that
were failing-to-deliver as of September 12, 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 2,100,000,000 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. 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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Copyright ? 2008 M2 Communications Ltd.
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