Extreme Motorsports of California, Inc. Confirms Symbol, CUSIP Change and Trademark Protection Strategy New Ticker Symbol Is Part of Novel Branding and Copyright Protection Program to Include Piracy Protection of Shares of the Company's Common Stock BAKERSFIELD, CA -- (MARKET WIRE) -- May 21, 2007 -- Extreme Motorsports of California, Inc. (PINKSHEETS: ETMO) (PINKSHEETS: XTMS) ("Xtreme" or the "Company"), has initiated a full program to promote its brand identity and associated trademarks. Soon, the Company will release, both on its website and at its corporate and dealer locations, new branding and corporate identity materials that are being registered with the United States Patent and Trademark Office. As a result of promoting its corporate identity and protecting its intellectual property, the Company now has the right to limit the unauthorized sale of its shares of common stock. The overall strategy is designed to protect shareholders from purchasing shares from naked short sellers, which the Company believes may be counterfeit and violate copyright and trademark protection laws. The Company intends to pursue those who wrongfully "naked short sell" its common stock to the extent that the common stock of the Company is now part of its intellectual property portfolio. Since February 2007, the Company has been working with its corporate and securities counsel to develop a means of protecting its brand and corporate identity, including stock certificates, under U.S. Code, Title 15, Chapter 22 - Trademarks and Title 18, Part I, Chapter 113 - Stolen Property. From a civil law perspective, violations under these laws provide for the recovery of the violator's profits, damages caused by infringement of the trademark and the costs of prosecuting the violation. The statute also provides for treble (three times) profit or damages, whichever is greater, when the violator knowingly uses the pirated mark in connection with a profit-seeking activity. If a trademark infringement is indeed confirmed by final judgment by a trial court, the holder of the trademark can elect to recover up to $1,000,000 per counterfeit mark if "the court finds that the use of the counterfeit mark was willful." From a criminal law perspective, trafficking in counterfeit trademarks carries potential fines up to $2,000,000 and/or imprisonment of not more than 10 years for an individual and fines up to $5,000,000 for violations by companies. In the case of multiple convictions, the fines and imprisonment double for individuals and fines triple for companies. As part of this program, the Company has developed a new certificate which contains both trademarked identity and copyrighted materials. To ensure it would be able to avail itself of the highest level of protection, Xtreme applied for a new CUSIP number, the standard numbering system developed for all U.S. debt and equity securities. This new CUSIP number for the Company's common stock necessitated a corresponding ticker symbol change. As of May 21, 2007, Extreme Motorsports of California, Inc. will trade under the symbol "ETMO." James A. Reskin, General Counsel of the Company stated, "The Company can now claim that its materials are subject to copyright as well as trademark protection and intends to enforce its rights under these laws. Legitimate buyers of the Company's common stock will not be affected, including those who buy and sell electronic representations of our copyrighted and trademarked common stock. "However, those entities who sell stock purported to originate from the Company but which does not, in fact, originate from the Company, may be selling counterfeited and pirated copies of copyrighted or trademarked materials. Therefore, whether due to illegal naked short selling or issuance of counterfeit securities, the Company intends to pursue the unauthorized duplication of its trademarked materials and believes that the remedies available under intellectual property laws should allow us to pursue violators in criminal and civil proceedings for the benefit of all of the Company's shareholders." Xtreme will update shareholders regarding any future legal proceedings the Company may undertake to protect its copyrighted and trademarked common stock. About Extreme Motorsports of California, Inc. Extreme Motorsports of California, Inc., operating under the trade name "Xtreme Motorsports," is a manufacturer of custom and production-line sandrails, desert and dual sport racecars. Founded in 1983, Xtreme's sandcars have been sold to customers in England, the United Arab Emirates, Australia, South America and the US. For more information, visit the corporate web site www.xmssandcars.com.
SEDONA Corporation Announces First Quarter 2007 Operating Results Last Update: 3:59 PM ET May 21, 2007 KING OF PRUSSIA, Pa., May 21, 2007 /PRNewswire-FirstCall via COMTEX/ -- SEDONA(R) Corporation (SDNA : sedona corp pa com News , chart , profile , more Last: 0.18-0.03-14.29% 3:53pm 05/21/2007 Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss Financials Sponsored by: SDNA0.18, -0.03, -14.3%) ( www.sedonacorp.com), a leading provider of Customer and Member Relationship Management (CRM/MRM) solutions for small and mid-size financial services organizations, today announced operating results for the first quarter 2007. Total revenue for the first quarter of 2007 was $324,000 compared to $468,000 during the same period of 2006. The breakdown is as follows: Revenue-unrelated parties: Q1 2007 Q1 2006 License fee revenue $116,000 $162,000 28% decrease Service revenue $208,000 $114,000 82% increase Total unrelated revenue $324,000 $276,000 17% increase Revenue-related parties: Service fee revenue - $192,000 100% decrease Unrelated party revenues for the first quarter of 2007 were $324,000 compared to $276,000 reported a year ago, an increase of 17%. The increase in revenues was attributable to strong growth in service revenues specifically from requests for training and professional services from new customers offset by one less license sale in the first quarter of 2007 compared to the same period in 2006. During the quarter ended March 31, 2006, the Company recognized $192,000 of related party service fee revenue from ACEncrypt Solutions LLC for the completion of a professional services engagement. SEDONA did not recognize any revenue from related parties in the quarter ended March 31, 2007. As of March 31, 2007, SEDONA has recorded deferred revenue of $831,000. The Company reported $406,458 in current and non-current accounts receivable and associated deferred revenue for monthly subscription fees from its distribution partners' ASP contracts that will be recognized ratably over contract terms. This represents a 102% increase over the $201,003 reported as of March 31, 2006. Total cost of sales increased to $107,000 for the three months ended March 31, 2007 from the $64,000 reported for the three months ended March 31, 2006, mainly due to higher support cost related to the release of a new version of Intarsia to the Company's partners and customers. The new product contains a significant amount of new functionality and product enhancements. For the first quarter a gross profit of $217,000, or 67% of revenue, was reported, compared to $404,000 gross profit, or 86% of revenue reported in the same period of 2006. Total operating expenses increased 1% to $729,000 in the first quarter of 2007, from $719,000 reported in the year earlier period. Net loss applicable to shareholders increased to $668,000, or ($.01) per share, compared to $450,000 or ($.01) per share a year ago. Significant events in the first quarter 2007 include: * Entered a reseller agreement with Profit Technologies Corporation. * Announced that GBS Corporation, a Sharetec distributor, selected SEDONA as its partner for MRM/CRM application and services. * Announced an international partnership with Haydrian Corporation. Haydrian currently markets and sells SEDONA's CRM/MRM technology, Intarsia, as well as will offer integrated Intarsia with Haydrian's anti money laundering solution, XM3. * Announced that SEDONA had delivered its first version of Intarsia for the higher education market. SEDONA President and CEO, Marco Emrich commented, "the first quarter contained some significant accomplishments for SEDONA. The Company experienced an important increase in its distribution channels, as well as the vertical markets it serves. SEDONA's Intarsia product continues to penetrate the market as evidenced by increases in the deferred revenue and accounts receivable from monthly subscription fees." About SEDONA Corporation SEDONA(R) Corporation (SDNA : sedona corp pa com News , chart , profile , more Last: 0.18-0.03-14.29% 3:53pm 05/21/2007 Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss Financials Sponsored by: SDNA0.18, -0.03, -14.3%) provides multi-vertical Customer/Member Relationship Management (CRM/MRM) solutions and services specifically tailored to the small to mid-size financial services market. SEDONA's CRM/MRM solution, Intarsia(R), is designed and priced to support and meet the needs of the multiple lines of business of small-to-midsize banks and credit unions. Intarsia provides the entire financial services institution with a complete and accurate view of their customers' and prospects' relationships and interactions. By utilizing SEDONA's CRM/MRM solution and services, SEDONA's clients effectively identify, acquire, foster, and retain loyal, profitable customers. For additional information, visit the SEDONA web site at www.sedonacorp.com or call 1-800-815-3307. Forward-Looking Statements Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes," "anticipates," "plans," or "expects," and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements. SEDONA(R) and Intarsia(R) are registered trademarks of SEDONA Corporation. All other trade names are the property of their respective owners. This press release and prior releases are available on the SEDONA Corporation web site at www.sedonacorp.com. SOURCE SEDONA Corporation Investors, Steve Ficyk, +1-216-373-6856, stevef@sedonacorp.com, or Media, Michelle Brown, +1-610-337-8400, michelleb@sedonacorp.com, both of SEDONA Corporation http://www.sedonacorp.com/ Copyright (C) 2007 PR Newswire. All rights reserved What this makes me wonder is, how many companies did they target successfully that were real companies, and were destroyed. They, i.e the dark side, black guard whatever, usurped the powers of the market, and decided to decide for themselves. This is the company that went from the 80 person staff to fifteen.
Naked Short Positions Still Under SEC Scrutiny Peter Chapman Should market makers be able to maintain uncovered short sale positions in certain so-called threshold securities indefinitely? The Securities and Exchange Commission still hasn't made up its mind. It originally OK'd the idea, in early 2005, but then flip-flopped last September. In March, it reopened the comment period covering its proposal to rescind an exception to its Regulation SHO that allowed dealers to maintain certain so-called "naked" short-sale positions indefinitely. Reg SHO, which covers short-sale tick tests as well as naked short sales, is in pilot phase. The new comment period, now ended, was undertaken to make some previously confidential data available to the public. However, the release of the data only proves that Reg SHO is working well and that there is no need to rescind the exception for certain threshold securities, according to one big market maker. "The data shows that Reg SHO has indeed worked," said Len Amoruso, Knight Capital Group's chief compliance officer and co-head of the office of general counsel. "The data seem to support the fact that you don't need to eliminate the grandfather clause." Reg SHO's grandfather clause permits market makers to maintain open short positions in securities that landed on an exchange's "threshold" list after they put on the position. A threshold list covers the names of securities sold short but not delivered within the standard three business days. The grandfather provision makes it possible for dealers to take on a risky short position when handling a customer order without fear that they might have to close the position at a loss. Critics complain that brokers should not be allowed to sell stock and not deliver the securities within the three-day settlement period. The debate has grown heated in recent years. The information just made available by the SEC was gathered by the NASD and covers Nasdaq threshold securities. It is about two years old. The data show that 58 securities out of 379 remained on the threshold list eight months into the Reg SHO pilot, which began in January 2005. On a recent day in April, Amoruso noted, only 12 securities were on Nasdaq's list. The drop means Reg SHO is working, according to Amoruso. "Dealers are closing out their fails," he explained. "The fails are not extending for as long as they used to. Firms may not be as aggressive in putting on short positions." Despite the decline, the SEC still appears inclined to eliminate the grandfather clause. Chairman Christopher Cox, testifying before a congressional committee on the SEC's fiscal year 2008 budget, told the representatives that naked short selling is a significant concern for the regulator. Reg SHO "has been inadequate to shut down the problem," Cox said. "We are in the process right now of tightening up our rules on that." The SEC has received hundreds of letters from angry Americans decrying naked short selling. The SEC told Traders Magazine it will make a final decision in "late spring." (c) 2007 Traders Magazine and SourceMedia, Inc. All Rights Reserved.
Do you really think Hedge Funds are run by market wizards..... 432 ZTR 14 5.110 -0.180 1,602,800 2007-05-25 15:14:43 from buyins.net ON naked short list for fourteen days. http://biz.yahoo.com/bw/070525/20070525005444.html?.v=1 Or slight of hand artists????? Pick up a few basis points here, some there, hey, it adds up. What he hell if you break the law? They're in our pockets.
Re; ZTR, I'm not sure I understand your point. Are you suggesting the rights offering is to settle up the short interest?
Imo, a rights offering is negative, hence the rising short interest into the offering, the cart may be before the horse in this instance, unlike a PIPES. That being said, I'm going to watch this, looks interesting and may present a buy point in the future.
True, but theyNAKEDSHORTINTOITWHICHISILLEGALANDINFLATESTHEIRRETURNSWHICHISHOWTHEYPULLTHISOFF!!!!!!!!!! It also gives them the power to bribe politicians, who are too fucking stupid to understand the macropicture. There is more talent on ET than at these prestigious hedgefunds. This is not talent. Go ask Don Bright what his traders could return if they used these techniques.
Oklahoma Bill Taking Aim At Short Selling Fails Friday 05/25/2007 5:48 PM ET - Dow Jones News By Carol S. Remond Of DOW JONES NEWSWIRES An Oklahoma state bill targeting short sellers, those investors who bet that a stock price will decline, has failed to clear the legislature before it adjourned for the year. The bill, like similar failed attempts in Virginia, Arizona, Texas and Utah, targeted so-called failures to deliver and sought to gain access to otherwise confidential trading information and would have been strongly opposed by Wall Street firms. Failures to deliver have become a key issue in the heated dispute over allegedly illegal short selling of stock. The Oklahoma bill, like legislative bids in Arizona and Utah, was indirectly supported by Overstock.com (OSTK) Chief Executive, and large shareholder, Patrick Byrne, who has been battling short sellers for the last couple of years. The bill was also supported by local company Pre-Paid Legal Services Inc. (PPD), itself a longtime adversary of short sellers. Pre-Paid Chairman Harland Stonecipher earlier this year addressed the Oklahoma Senate Judiciary Committee in support of the legislation. Two local Pre-Paid lobbyists had also been working to promote the bill in the name of the company and American Entrepreneurs for Securities Reform, a group formed to promote state legislative actions to combat alleged abusive short selling. The Oklahoma bill, however, wasn't supported by the state securities commission administrator Irving Faught, who argued that it would run afoul of the doctrine of federal preemption, which guarantees that state laws cannot encroach on federal statutes. The Oklahoma bill, "while bold in its approach, overreaches to a point of probable Constitutional infirmity," Faught wrote in an April 4 letter to an Oklahoma representative sponsoring the bill in that house. "As a result, not only is its enforceability in doubt, it will likely produce the unintended consequences of inviting indefensible lawsuits against our state and federal preemption of our securities laws," Faught continued in his letter. The threat of lawsuits by Wall Street lobby group the Securities Industry and Financial Markets Association, or SIFMA, led to the withdrawal or death by lack of action of several state bills looking to gain access to proprietary trading data. Meanwhile, a lawsuit filed by SIFMA, then known as SIA, led Utah earlier this year to repeal a controversial law that took aim at alleged abusive short selling and failure to deliver shares on time after stock transactions take place. A Wall Street lobby group had filed suit claiming that the Utah law violated federal law because it implemented record-keeping requirements for brokers different from federal requirements shortly after Gov. Jon Huntsman signed the law in May 2006. The repealed Utah law had been sponsored by Byrne, whose struggling online retailer company, Overstock, is based in Salt Lake City. Byrne has been engaged in a self-described "jihad" for the last two years against what he claims is rampant illegal short selling. The Oklahoma bill, like the Arizona and Texas bills, was sponsored by American Entrepreneurs for Securities Reform, a group with ties to Tim Mooney, a Republican consultant who has worked with Byrne in the past. -By Carol S. Remond, Dow Jones Newswires; 303-997-5783; carol.remond@dowjones.com > Dow Jones Newswires 05-25-07 1748ET