Whistler Investments, Inc. (WHIS) announces discovery of short position in excess of 700,000 shares, 12% of DTC position
14 Junho 2004 - 6:03PM
PR Newswire (US)
Whistler Investments, Inc. (WHIS) announces discovery of short
position in excess of 700,000 shares, 12% of DTC position LAS
VEGAS, NV, June 14 /PRNewswire-FirstCall/ -- Whistler Investments
Inc. (http://www.whistlerinvestments.com/) subsidiaries, R-Electric
Car Company (http://www.r-electriccar.com/) Global Electric
Corporation, (http://www.globalelectric.com/) and Solium Power Corp
(http://www.soliumpower.com/) emerging leaders in the development
and marketing of lithium ion vehicles and lithium ion powered
products worldwide, announced today that as we have previously
communicated with our stockholders concerning the unauthorized
listing of Whistler's common stock on the Berlin Stock Exchange, we
took steps to delist our stock from that exchange, and advised our
stockholders that, because of the Berlin Stock Exchange's policy
permitting "naked" short sales, to make sure that they received
delivery of any stock they purchased. Following the delisting of
our stock from the Berlin exchange, we had concerns about the
potential aftermath of this unauthorized listing. We conducted our
own investigation and as of June 2, 2004, have found the following:
According to our transfer agent records, we have 5,504,680 shares
held by DTC, but the ADP broker search indicates of 6,217,458
shares being reported by broker/dealers as being held on behalf of
their customers, indicating a short position of more than 700,000
shares. A summary report can be viewed at
http://www.whistlerinvestments.com/shorts.html We have therefore
commenced work with DTC for a formal review of the reported
excessive broker/dealer holdings of our stock so that we can
conduct our corporate affairs properly in view of our planned
stockholders meeting and other upcoming corporate matters. We again
advise our stockholders make sure that they receive delivery of any
shares that they purchase, and also that their stock is not being
borrowed without authorization. Holly Roseberry, President of
Whistler Investments states "We intend to get to the bottom of the
excessive short position and bring stability back into the trading
of our stock. We're happy to say that we have 5,133 stockholders
and we expect all our stockholders to benefit from the shorters
having to cover their short positions. About Whistler Whistler
Investments, Inc. (WHIS) is emerging as a leader in the development
and marketing of Lithium Ion vehicles and Lithium Ion powered
products worldwide. Whistler believes our superior technology
coupled with an aggressive marketing plan will establish our
company on the world stage. With the global focus moving rapidly
towards addressing pollution, the need for sustainable, zero
emission energy is current. As legislation is dictating a move
towards this type of energy, we foresee this industry as one of the
fastest growing segments within the global economy. For more
information about Whistler Investments, please visit our website at
http://www.whistlerinvestments.com/. Forward Looking Statement This
press release may include forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. These statements are
based on the Company's current expectations as to future events.
However, the forward-looking events and circumstances discussed in
this press release might not occur, and actual results could differ
materially from those anticipated or implied in the forward-looking
statements. DATASOURCE: Whistler Investments, Inc. CONTACT:
Whistler Investments, Investor Relations, (888) 669-1808 or (604)
681-2799,
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