Accordingly, iTalk, through its legal counsel, will be contacting the BBSE and the broker sponsoring the BBSE listing to demand immediately delisting the Company's stock from the BBSE and bring a similar end to the potential manipulation of TALK shares.
Naked short sellers can list an OTCBB or OTCQB traded company on the BBSE in order to delay delivery of shares under the short position.
Due to the timing of the unauthorized listing of Company's common shares on the BBSE, the Company became suspicious that "naked short selling" may be taking place in its stock as evidenced in a drop in share price over the recent months.
By listing a company's common stock on the BBSE without the consent of the company, market manipulators seek to benefit from an "arbitrage" loophole.
The BBSE is one of the few exchanges in the world that allows listing and trading to occur without the consent of the listed company.
Cessation of trading on the BBSE will have no impact whatsoever on trading in the Company's common stock on the OTCQB trading platform where the Company currently trades in the United States, and the Company's trading symbol in the United States will remain AMBS.
InfoSonics is working with its attorneys to have its common stock delisted from the BBSE
and address any impact the unauthorized listing had on its stock.
is actively involved in the distribution of computer systems, IT peripherals, and solution marketing of IT networking products.
Despite denials by BBSE
officials, it is clear that the common share price of Cal-Maine, as well as the share prices of several other U.
The company and its counsel are continuing to investigate the matter and intend to deliver a letter to the BBSE
demanding immediate removal of Hansen and delisting of its common stock from their exchange.