Whistler Investments, Inc. (WHIS) announces discovery of short position in excess of 700,000 shares, 12% of DTC position - Corre
15 Junho 2004 - 11:51AM
PR Newswire (US)
Whistler Investments, Inc. (WHIS) announces discovery of short
position in excess of 700,000 shares, 12% of DTC position -
Correction LAS VEGAS, NV, June 15 /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. The Company has extended its
arrangements with its Transfer Agent to pay for all deliveries to
June 30, 2004. 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 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://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 to 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. Whistler Investments,
Inc. DATASOURCE: Whistler Investments, Inc. CONTACT: For more
information about Whistler Investments, please visit our website at
http://www.whistlerinvestments.com/.
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