8000 Inc. (EIGH.pk) Submits Evidence showing Manipulation of its Stock to FINRA

March 16, 2011 - PRLog -- Under SEC and FINRA rules 15c(3)-3 and 11180, pursuant to customer protection, stock positions and broker-dealer obligations, 168 individual shareholders provided statements, evidence and verified documents detailing their purchases, holdings and activity in EIGH.pk to identify if there were any discrepancies.

Under these rules, broker-dealers must be in a position of control or possession of any stock purchased by a customer and if not take action.

The audit of the shareholder information supplied delivered the following findings:

•   22.5% of the total number of shareholders own more than the total issued shares through less than 25% of the active broker-dealers trading EIGH.pk
•   Broker-dealers have not completed share transaction contracts, are therefore not in control or possession of the stock purchased on behalf of customers and thus are subject to FINRA buying-in rules.
•   The minimum number of shares that would be required to honor the EIGH stock purchases of the 22.5% of shareholders audited and to cover all known certificate positions, would be 174,944,188
•   The SEC and FINRA have specific rules and regulations covering customer protection, customer contracts and control or possession of stock. The simple fact that more shares have been sold by the broker-dealers than exist makes them culpable and delinquent in their obligations pursuant to these rules.

These findings are supported by shareholder statement and verified documented evidence
In not controlling or being in possession of EIGH.pk securities to cover those purchased by shareholders and the inability or refusal to deliver physical certificates renders the securities contract not completed by the Broker-Dealers and demands the immediate  issuance of buy-in notices pursuant to the rules!
Finally, the numbers of shares accounted for, the examples of non-delivery and non-performance, the transactional data and customer protection rules ignored, demands immediate action and has been requested of FINRA.

The Company will issue the full detailed findings and would ask that shareholders contact their broker-dealers to confirm they control and are in possession of their lawfully purchased EIGH.pk  stock  and if not to request a buy-in under the SEC rules for Protection of Customer and the FINRA  Buy-in Procedures.


It is incomprehensible that less than a quarter of the shareholders has purchased and own more than the total issued by the Company. It demands the question, what have the remaining 77% of EIGH.pk shareholders bought and paid for?


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.

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