April 10, 2007
Please see the following PR from Universal Express Inc. (OTCBB: USXP) for a well written summary on the extent and negative impact of Naked Short Selling (NSS). This company has gone on record as being able to prove serious NSS against their company, using records obtained directly from the DTC.
NEW YORK, NY -- (MARKET WIRE) -- 04/10/07 -- Universal Express Inc. (OTCBB: USXP CEO, Richard A. Altomare, today presents estimated tax losses to the United States Treasury of over $1 Trillion Dollars due to naked short selling.
"The facts are simple. Sell a stock you do not own. Push the share price down. Force the Company to fail. The failed stock never has to be purchased, and since there is no mandated buy-in after a company fails, almost everyone loses, the employees, the shareholders and now the Federal Government. It's a tax free way of making money," said Richard A. Altomare, Chairman and CEO of Universal Express, Inc.
"To be more specific, this loophole benefits market makers, hedge funds and maybe even the funding of terrorist cells. Our national debt and the Iraqi war could have been paid for with the elimination of naked short selling or a mandated stock buy-in after shorting.
"Once again I call upon our elected officials to address the problem prior to the SEC's efforts to pretend they're fixing a broken system. As they attempt to silence those of us who speak the truth, I ask you to examine the profits, the bonuses and the salaries of those stealing not only from individual companies, but from every hard working American taxpayer," continued Mr. Altomare.
"With all those in Congress looking for an issue worth supporting, how about documented tax fraud in the trillions?
"Courage is required and our Country and American investors have been stolen from far too long. Where are those real leaders worth following?
"I'm tired of hearing how much money a candidate raises. Let's rally behind one who shines a light on a practice that is raising our National Debt, raising our taxes, and raising our cost of living," concluded Mr. Altomare.
About Universal Express
Universal Express, Inc. is a 23 year old logistics and transportation conglomerate with multiple developing subsidiaries and services. For additional information please visit www.usxp.com
Safe Harbor Statement under the Private securities Litigation Reform Act of 1995: The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new
technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.