National Hyperbaric Rehab Announces Policy Regarding Shorting of Stock.SALT LAKE CITY -- Chief Executive Officer Jerry N. Gines of National Hyperbaric hyperbaric /hy·per·bar·ic/ (-bar´ik) having greater than normal pressure or weight; said of gases under greater than atmospheric pressure, or of a solution of greater specific gravity than another used as a reference standard. Rehab Center, Inc. ("NHRC NHRC National Human Rights Commission (India) NHRC Naval Health Research Center (US Navy) NHRC Natural Hazards Research Centre (Australia) NHRC Navrongo Health Research Centre ") (Pink Sheets: NHYB) today made the following announcement: "National Hyperbaric Rehab Center has recently been placed in a position that does not allow shorting of our stock. This SEC action places an R behind our symbol so short trading is deemed illegal. This regulation is the SHO threshold security." As defined in Rule 203(c)(6) of Regulation SHO Regulation SHO A regulatory addition by the Securities & Exchange Commission, expanding and updating the restrictions placed on short sale transactions. The updated regulations came into effect on Jan 3, 2005 and help to address several key issues in the short sale market. , a "threshold security" is any equity security of any issuer that is registered under Section 12 of the Exchange Act, or that is required to file reports under Section 15(d) of the Exchange Act (commonly referred to as reporting securities), where, for five consecutive settlement days: * there are aggregate fails to deliver at a registered clearing agency of 10,000 shares or more per security; * the level of fails is equal to at least one-half of one percent of the issuer's total shares outstanding; and * the security is included on a list published by a self-regulatory organization Self-regulatory organization (SRO) Organizations that enforce fair, ethical, and efficient practices in the securities and commodity futures industries, including all national securities and commodities exchanges and the NASD. (SRO See Self-regulatory organization. SRO See self-regulatory organization (SRO). ). A security ceases to be a threshold security if it does not exceed the specified level of fails for five consecutive settlement days. "The continued suppression of our stock has resulted because of shorting activity. This safeguard will enable the company to have a better stock trading position by eliminating short selling Short Selling The selling of a security that the seller does not own, or any sale that is completed by the delivery of a security borrowed by the seller. Short sellers assume that they will be able to buy the stock at a lower amount than the price at which they sold short. ," Gines continued. "The management of National Hyperbaric Rehab Center has great confidence in the future of the company. We applaud the action taken by the SEC. It is a favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. step in building value for our future together." Statements contained in this press release that are not statements of historical fact are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " as that term is defined under federal securities laws, including, without limitation, all statements concerning expectations, beliefs, goals, intention or strategies for the future of National Hyperbaric Rehab Center, Inc. Forward-looking statements may be identified by words such as "goals," "plans," "believes," "will," "expects" and other words of similar meaning used in conjunction with, among other things, discussions of future operations, financial performance, product development and new ventures. Many factors could cause actual events or results to differ materially from those expressed in any forward-looking statement. Investors are cautioned not to place any undue reliance on any forward-looking statements. |
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