April 22, 2008
This topic has been a hot one from our shareholders over the last six months. Too much time has been taken to address this issue with them. The loss of the uptick rule is the number one topic but "naked" short selling the second. It is strongly suspected from the trend of the trading in our stock that short sellers are playing with our stock. We have a very low float with several large shareholders. The top four shareholders, including myself, control slightly more than 50.0% of the shares as of this writing. There are other large position shareholders as well which makes me believe that the majority of the players shorting our stock do not own it.
We strongly encoursge the passage of this rule and we further support the aggressive enforcement of the same. Our financial performance is very very lumpy which gives risk to both short sellers as well as longer term holders. Being manipulated by short sellers is destructive to our shareholders but "naked" short sellers gives no limits to the damage.
I urge action