SOURCE: H3 Enterprises, Inc.

March 19, 2007 09:04 ET

H3 Inc. Combats Illegal Short Selling of Stock With BUYINS.NET

ST. PETERSBURG, FL -- (MARKET WIRE) -- March 19, 2007 -- H3 Enterprises, Inc. (PINKSHEETS: HTRE) announces the hiring of California-based BUYINS.NET to combat the illegal short selling of its stock.

H3 has subscribed to this service to expose naked short positions in its stock on a monthly basis. The Company will publish a list of short positions on its web site and issue a Press Release disclosing full details contained in that monthly report. H3, with the assistance of BUYINS.NET and the law firm of Labertew & Associates, LLC, is determined to attack those who are involved in the illegal naked short selling of its stock.

"The naked shorting of stock is a problem that continues to persist despite efforts of the regulatory community. The NASD and SEC are empowered to oversee the legal short selling of stocks, but numerous onshore and offshore institutions exploit countless loopholes to illegally take advantage of an exorbitant number US companies," said Keith Chutjian, Chairman of H3 Enterprises, Inc. "We are fortunate to have BUYINS.NET as an ally against the naked short selling of H3 stock. We will do everything in our power to prosecute and bring to justice individuals or institutions that have participated in this practice."

BUYINS.NET created an automated database that collects, analyzes and publishes a SqueezeTrigger for each stock that has been shorted from NYSE, AMEX, NASDAQ, OTCBB and PINKSHEETS every night and uses counters to track which stocks are about to have forced covers. 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 and a short squeeze can begin.

Prior to January 1, 2005, this data was unavailable because the Self Regulatory Organizations aggressively safeguarded the information. This changed January 3, 2005 when the SEC passed Regulation SHO, an authoritarian system designed to monitor the 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. SEC Regulation SHO, under the Securities Exchange Act of 1934, 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.

H3 is confident that BUYINS.NET's tracking system will deter individuals from illegally short selling stock and identify all guilty parties, previous, present and future.

Safe Harbor: Certain information included herein may contain statements that are forward-looking, such as statements relating to plans for future expansion and other business development activities. Such forward-looking information is subject to changes and variations which are not reasonably predictable and which could significantly affect future results.

Contact Information

  • CONTACT:
    H3 Enterprises, Inc.
    Marketing & Business Development
    Kenya Lucas
    718-427-3660
    klucas@h3inc.com