1. Latest News
  2. Submit Press Release
  1. PR Home
  2. Latest News
  3. Feeds
  4. Alerts
  5. Submit Free Press Release
  6. Journalist Account
  7. PRNewswire Distribution
8000 Inc Logo

8000 Inc (EIGH.PK) Statement to Shareholders –February 8, 2011

8000 Inc (EIGH.pk) submits evidence of significant naked short position in its quoted stock to the SEC.

 
PRLog - Feb. 8, 2011 - MANASSAS, Va. -- As previously announced 8000 Inc. (EIGH.pk) is providing information to the SEC relating to (i) the proposed merger with a non-shell trading bulletin Board Company as well as (ii) its demonstrable evidence regarding its concern about a suspected naked short position in its common stock (estimated by the Company to be an amount greater than twice the reported float).  Per requests from the Staff, supplemental evidence from the shareholder, certificate and stock transaction lists is being forwarded today.  The Company has been copied as supporting factual representations by Company shareholders directly to the SEC.

EIGH has advised the SEC Staff that it will issue a public statement about the proposed merger as soon as it has concluded its due diligence.  Meanwhile, the Staff has indicated that, consistent with their policies in the area, it is aware of the Company’s and shareholder concern and proposed resultant corporate actions. In that context, we understand the SEC Staff can’t provide legal advice or otherwise express any views on the proposed corporate actions.  

•   As to the Company’s proposed merger as outlined; or
•   To the Company’s intent to request shareholders return their common stock certificates for recall (i.e., cancellation) as part of the transaction.

Because of the concerns expressed above, the Company will not release the name of the target entity until after its due diligence review is concluded and upon the effective date of the share exchange.

The contemplated merger and associated share exchange between the two companies will be undertaken solely through the receipt of 8000 Inc. stock certificates with the pro rata stock in the new entity being issued electronically and directly to the shareholder account pursuant to an independent opinion of counsel. Absent a surprise, the Company expects to issue direct instructions to its Transfer Agent near term, most likely in the next two weeks.   Shareholders are asked, in the interim, to request physical delivery of their 8000 Inc. stock certificates from their brokerage firms in preparation for the contemplated merger and exchange. Full details of the process will be issued at the end of the due diligence review period as stated. The certificates will be verified against the Transfer Agent’s records. No exchange of stock in the new, combined Company will be undertaken without the provision of a physical certificate. Through this process, the Company hopes to address the shareholder concerns and in so doing progress to a higher quotation and accountability.

EIGH will continue to keep its shareholders apprised as events unfold. Also keep updated on 8000 Inc. developments on Facebook or Twitter.

www.brand8000.com
www.8000incgroup.com
www.8000inc.net

-ENDS-

This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. The words "estimate," "project," "intends," "expects," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. For a more complete description of these and other risk factors that may affect the future performance of 8000 Inc., see published disclosure documents at www.OTCMarkets.com. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made and the Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.

# # #

8000 inc is the culmination of 15 years of networking experience and success in the corporate world, stock markets and the technology and financial arenas with direct accessto corporate networks and Investment Banks.

--- End ---

Click to Share

Contact Email:
***@8000inc.net Email Verified
Source:8000 Inc
Phone:+1- 703-881-7834
Zip:20109
City/Town:Manassas - Virginia - United States
Industry:Business, Marketing, Technology
Tags:Stock, Market, trading, quote, Fashion, Sport, soccer, clothes, barbados
Shortcut:prlog.org/11284299
Disclaimer:   Issuers of the press releases are solely responsible for the content of their press releases. PRLog can't be held liable for the content posted by others.   Report Abuse

Latest Press Releases By “

More...

Trending News...



  1. SiteMap
  2. Privacy Policy
  3. Terms of Service
  4. Copyright Notice
  5. About
  6. Advertise
Like PRLog?
9K2K1K
Click to Share