Shareholder Statement April 28, 2011 – In Support of the Shareholders

April 29, 2011 - PRLog -- Shareholder Statement April 28, 2011 – In Support of the Shareholders
“The brokerage admissions surrounding the EIGH.pk share imbalance”
Due to the significant nature of communications received by the Company and its shareholders from Brokerages in response to reasonable questions, it is the Company’s belief that providing this information is in the best interests of both the shareholders and the public and that it has a duty of care obligation to do so.
Background
The Company has over an extended period provided detailed information to its shareholders and to the market at large. The evidence to support a significant illegal naked short position and stock manipulation is overwhelming. All information has been provided to all regulators, usually in advance so there will be no excuse for them to not act.
Having taken an open policy, and followed the politically correct route of non-confrontational discussion and accommodation of those the Company believes have engaged in the activities catalogued over many months, the Company undertook a detailed review of the company’s common shares and the certified shareholder stock positions in EIGH.pk. Further detailed analysis called for more information and the response and support from all individuals who have legally acquired Company stock, has been exceptional, identifying greater numbers of discrepancy and more issues. These results are being compiled and will be made public and they will ask questions of several trading and stock institutions.
Due to some alarming facts and admissions, the Company feels that it has a duty of care to its shareholders to expose the situation and provide full disclosure to enable all to understand the severity of the situation and to have the justification to act to defend themselves. All information within this reprint is fact and is supported by included documentation.
To have it admitted by senior management of a Brokerage that they have a “share imbalance and mess” that needs to be sorted out with no follow up action as stated, is wrong and an admission that goes to the cause. Knowing that there are discrepancies, knowing that shareholders will not be eligible for the planned share exchange because brokers do not know if they sold legitimate shares to their clients is not acceptable under any circumstances. The shareholders rights dictate that they need to be made aware of the truth and the facts.
Introduction
Key Points
•   More shares have been sold into the market than have been issued by the Company, proven by shareholder records and testimonies. The figure is growing and currently stands at more than 200MM representing 62% of the known shareholders.
•   Brokers have admitted there is a “share imbalance” and that there are failures to deliver, seen on many occasions in several brokerages over 18 months.
•   Knowing these facts and that shareholders and the Company have requested remedy and relief of the Brokerages and the regulators, the situation, in our opinion representing an illegal naked short is perpetuated at the cost of the shareholder and Company.

The information contained in this document is issued in order for all concerned to understand what has occurred and why it has been so difficult to do anything about the know facts. All shareholders should be aware that all information, all facts and interpretations have been sent to the regulators. It has been confirmed that the regulators are communicating with the Brokerages directly on this matter relating to sorting out the situation.
The Company and its shareholders have been exposed to severe consequences of these events and for admissions to be made with no action, and to be literally left to fight and deal with this matter alone, it irreprehensible. The information presented in this disclosure is fact, is supported by fact and is provided for the good of and benefit of the shareholders of 8000 Inc.
The Company states, has always stated and will continue to state, its request is to identify any issues surrounding the stock, and if any exist, for the brokers, dealers and clearing firms to address those issues. That is a reasonable and correct request in our opinion under these circumstances.
Share Imbalance - The facts
Below are the communications in received in response to the many questions and concerns of the shareholders and the Company presented to the Brokerages. The Company has provided its opinion, but will leave the interpretation of the facts individually to the reader.
Brokerage Communications
E*Trade and Ridge Clearing Solutions
In the Company’s opinion, the issues and questions that need answering are below and based on the actual responses received by E*Trade management and representatives.  The Company asks that all shareholders read the communications in full to understand the extent of the apparent issues.
Failures to deliver are acknowledged and yet not acted upon, why? If the stock is not delivered to the investor who purchased through E*Trade, who receives the shares in the share exchange, do these purchased shares exist, who owns them and why leave this an open issue?
Why is the failure to deliver and close out of stock transactions undertaken by a Brokerage for and on behalf of their client the responsibility of the Company, and why does a Broker think that it is acceptable to not settle or deliver stock legally purchased prior to a share exchange which may render the investor exempt from the transaction, unless this is a know naked short position.
Why is the situation described as a “mess” if there are no short positions or discrepancies? Surely as a stock traded through DRS as it is not DTCC eligible and can only be transferred in certificate form and is not eligible for any short sales, how can there possibly be a mess relating to the numbers of shares held by investors?
The total number of shares reported by E*Trade is less than the number of shares reported by 8ooo Inc. shareholders, verified by their account statements. So there is a mess, acknowledged by E*Trade, there is a discrepancy surrounding the number of shares held at E*Trade and there are failures to deliver. In our opinion that appears to suggest irregularities relating to 8000 Inc shares held at E*Trade, alternatively as stated by Courtney, we have a “share imbalance”.

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