Wataire Industries Clarifies Short Interest Information.
As a result of discussions with NASD, the Company wishes to state its position on NASD'S monthly short interest reports, which for the first time, are being compiled for over-the-counter stocks like Wataire Industries Inc.
NASD's short interest report is a "snapshot" of total short positions as of the date of settlement of the month in question. This does not include historical data on short selling.
Short interest numbers may also vary during the month. However, investors should be aware that any single day's short position should not reflect the historical pattern of shorts in the company especially when NASD did not provide over-the-counter short interest reports.
BUYINS.NET, on behalf of WTAF, has analyzed 19 months of the total of shares shorted during this period but, again, what may have been true in the past is not a predictor of Wataire' current and future short interest. BUYINS.NET data helps estimate the point at which short sellers are likely to go out-of-the-money and start losing on both short and naked short trades.
Based on historical data, BUYINS, estimates that a short squeeze is projected to begin when shares of WTAF close above $0.54. (View Website - www.buyins.net).
For example, in July of 2006, NASD reports Wataire Industries having a total short position of 4,010 shares as of July 14, 2006 , a figure much lower than many undocumented speculations the Company has encountered. Again, this figure does not include historical short selling data.
Despite the constant and unsubstantiated chatter about shorts and their alleged affect on share prices, Wataire's Board of Directors relies upon NASD and BUYINS.NET data as primary sources of short interest information.
The Company strongly supports SEC and NASD efforts to help rid the marketplace of uninformed and distorted claims being made about short positions.
Wataire Industries will continue to develop its advanced atmospheric water generation technology and expand on its growing world-wide network of marketing partners. It is only through positive corporate performance that shareholder value can be advanced and sustained and where the Company will continue to concentrate its efforts and resources. Consult our website www.wataireindustries.com for current news and product information.
Forward-Looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks 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.
Max Weissengruber 416-490-0254
On Behalf of the Board of Directors
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|Date:||Aug 9, 2006|
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