Wataire Industries Seeks Short Selling Information.VANCOUVER, British Columbia -- Wataire Industries (PINK SHEETS:WTAF) confirms its ongoing pursuit of authoritative information on the 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. situation that may be affecting shareholder understanding of the company and potential impact on current share prices. There has been a great deal of speculation about and absence of credible data surrounding both short selling as well as naked short selling Naked short selling, or naked shorting refers to the practice of selling a stock short without first borrowing the shares or making an "affirmative determination" that the shares can be borrowed. which occurs when stock is sold that is not owned and no attempt is made to borrow that stock. NASDS NASDS National Association of Scuba Diving Schools NASDS North American Sheep Dog Society approval of New Rule 3210, which requires clearing agencies to take action on failures to deliver that exist for 13 consecutive days may begin to help clarify the situation. In addition, the OTCBB OTCBB See OTC Bulletin Board (OTCBB). has begun to report short interest on a monthly basis which may also contribute to a fuller understanding of the nature and extent of short selling and its potential effect on market performance. The Company intends to vigorously pursue, with the assistance of regulatory agencies, stock exchanges and its industrial relations advisors, more definitive information on short selling practices and their possible impact on share performance. The Company is committed to providing its shareholders with credible information on all matters material to its business practices, including non speculative short selling information we are able to obtain. Forward Looking statements in this release are made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that such forward-looking statements involve risk and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers and other risks, detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. |
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