MMIC -- Marmion Industries Corp.
Com ($0.001)(New)
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BUYINS.NET: FLYIQ, MBAY, MMIC, SMVD Have Been On BUYINS.NET Naked Short List For 13 Consecutive Trading Days
Dec 23, 2005 (M2 PRESSWIRE via COMTEX) -- BUYINS.NET, www.buyins.net, announced today that these select companies have been on the NASDAQ, AMEX and NYSE naked short threshold lists for 13 consecutive trading days: FLYI, Inc. (OTC: FLYIQ), MediaBay, Inc. (NASDAQ: MBAY), Marmion Industries (OTCBB: MMIC) and SmartVideo Technologies (OTCBB: SMVD). For a complete list of companies on the naked short lists please visit our web site. To find the SqueezeTrigger Price before a short squeeze starts in any stock, go to www.buyins.net/squeezetrigger.pdf.
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.
FLYi, Inc. (OTC: FLYIQ), through its subsidiary, Independence Air, Inc., operates as an air carrier. It provides regularly scheduled air service to East Coast destinations with a combination of 132-seat Airbus A319 aircraft and 50-seat Canadair regional jets. As of March 10, 2005, FLYi operated a fleet of 90 aircrafts that comprises 8 Airbus A319 and 82 Bombardier CRJ200 aircrafts. The company was formerly known as Atlantic Coast Airlines Holdings, Inc. It changed its name to FLYi, Inc. in 2004. FLYi is based in Dulles, Virginia. With 49.34 million shares outstanding and an undisclosed short position, the failure to deliver in shares of FLYIQ has not been resolved and a buy-in is possible.
MediaBay, Inc. (NASDAQ: MBAY) operates as a digital media and publishing company, specializing in spoken audio entertainment in the United States. It operates through three segments: Audio Book Club, Radio Spirits, and MediaBay.com. The Audio Book Club segment, a membership-based club, licenses from publishers to distribute audiobooks in a club format through direct mail and on the Internet. The Radio Spirits segment produces, sells, licenses, and syndicates old-time radio shows on audiocassettes and compact discs through catalog, retail, direct mail, and online channels. It also broadcasts its radio programs through a syndicated radio show on commercial stations in the United States, as well as broadcasts its 24-hour Radio Classics channels on Sirius and XM Satellite Radio. As of July 7, 2005, the company's content library consisted of approximately 75,000 hours of spoken audio content, including audiobooks and old-time radio shows. The MediaBay.com segment operates as a media portal offering spoken word audio content in digital download formats. The company was founded in 1993 and is based in Cedar Knolls, New Jersey. With 10.44 million shares outstanding and 7,460 shares declared short as of November 10th, the failure to deliver in shares of MBAY has not been resolved and a buy-in is possible.
Marmion Industries Corp. (OTCBB: MMIC) engages in the manufacture and modification of heating, ventilation, and air conditioning (HVAC) equipment primarily for the petrochemical industry. It offers custom engineer special systems for hazardous location applications in industrial environments, and performs commercial HVAC construction services primarily in the Houston, Texas area. The company's customers primarily include refinery and chemical plants service companies that build analyzer shelters, controls centers, and computer rooms in corrosive or hazardous locations. Marmion's also provides residential and commercial HVAC services. The company was founded in 1998 and is based in Houston, Texas. With 214 million shares outstanding and an undisclosed short position, the failure to deliver in shares of MMIC has not been resolved and a buy-in is possible.
SmartVideo Technologies, Inc. (OTCBB: SMVD) provides digital media solutions for broadcasting live, on-demand, and download-and-play television content for mobile video consumers worldwide. Its television solutions deliver video images with audio for broadcast to video-enabled cell phones and other handheld devices via cellular and Wi-Fi systems. The company's proprietary technologies include a suite of television content management services for wireless telco carriers, as well as mobile television broadcast and business solutions. SmartVideo's library of content includes national networks and local affiliates, news, weather, sports, children's programming, movies, music videos, and other content genres. The company markets its products and services primarily in the United States and Canada through resellers, agents, and independent sales force. SmartVideo is headquartered in Duluth, Georgia. With 26.82 million shares outstanding and an undisclosed short position, the failure to deliver in shares of SMVD has not been resolved and a buy-in is possible.
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 500,000,000 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 e-mail: tom@buyins.net Tel: +1 949 675 4410
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