BUYINS.NET: IBNW, CXMLF Have Been On BUYINS.NET Naked Short List For 13 Consecutive Trading Days
Jun 18, 2009 (M2 PRESSWIRE via COMTEX) --
Companies: Comaplex Minerals Corp (CXMLF), IB3 Networks Inc (IBNW)
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: Ib3 Networks Inc. (OTCBB: IBNW), Comaplex Minerals Corp. (OTC: CXMLF). 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.
Ib3 Networks Inc. (OTCBB: IBNW) through its wholly-owned subsidiary, iBeam Solutions, LLC, engages in delivering various information technology (IT) related solutions in the United States and internationally. The company's IT solutions include scalable hosting solutions, managed hosting, dedicated hosting and co-location, IT infrastructure, virtual help desk, managed services, staff augmentation, design and implementation of networks, security and Internet monitoring, technical support, Web development, application development, database development and support, and wireless solutions. It also resells IT related hardware and software. Through its other subsidiary, NYC Mags, Inc, the company also engages in the development, promotion, and operation of its online dating social community, MadisonAvenueMatch.com. The site would be a social networking site designed to help single professionals in New York meets other local single professionals and upwardly mobile individuals for dating, romance, and possible marriage. The site also offers its members access to host and sponsor social events designed to bring single professionals together in a social setting. The company was formerly known as Language Access Network, Inc. and changed its name to IB3 Networks, Inc. in September 2008. IB3 Networks, Inc. was founded in 2000 and is based in Canal Winchester, Ohio. With 25.75 million shares outstanding and 195,100 shares declared short as of June 2009, the failure to deliver in shares of IBNW has not been resolved and a buy-in is imminent.
Comaplex Minerals Corp. (OTC: CXMLF) engages in the exploration and development of precious metals, base metals, and diamonds in Nunavut, Northwest Territories, Ontario, and Newfoundland, Canada. The company focuses on the Meliadine West gold property covering 65,539 hectares located in Nunavut Territory. It also has interests in four non-operated oil and natural gas producing properties. The company was founded in 1987 and is headquartered in Calgary, Canada. With 52.7 million shares outstanding and an undisclosed short position, the failure to deliver in shares of CXMLF has not been resolved and a buy-in is possible. According to quarterly data provided by the SEC, there were still 636,700 shares of CXMLF that were failing-to-deliver as of October 18, 2005.
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 2,600,000,000 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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Companies: Comaplex Minerals Corp (CXMLF), IB3 Networks Inc (IBNW)
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