8000 Inc. Manipulation of its stock and Non-Compliance of Broker-Dealers. -- 8000inc

March 16, 2011 - PRLog -- “FINRA uniform code of practice”.
168 Shareholder statements have provided detailed, verified and substantiated factual evidence proving that Broker-Dealers are not in a position of control or possession of sufficient numbers of EIGH stock to satisfy or meet their customer account records or contracts. They have also been unable and unwilling to honor customer requests for the delivery of physical certificates. The Broker-Dealers have not adhered to their client contracts and the pursuant SEC and FINRA Rules. It is also proven that these Broker-Dealers have sold more stock to the public and investors than the total number issued by the Company and therefore have failed, contravened or evaded accepted reporting procedures.
It is proven through shareholder statements that 22.5% of the total number of shareholders of EIGH.pk have purchased and paid for more shares that the Company has lawfully issued.In the trading of EIGH, Broker-Dealers have contravened FINRA Rules 11810, 2114 and subsequently 4320, and SEC Rule 15c(3)3 for a time greater than permitted or allowed and are thus, pursuant to those rules, now subject to an immediate buy-in notice.
The Broker-Dealers identified are unable honor and have not adhered to the rules pertinent to customer stock positions and contracts, reporting regulations, customer protection and the required buy-in procedures. Immediate remedy is now demanded by the shareholders of EIGH and is required by FINRA Rules, through a request by FINRA for its member Broker-Dealers to immediately issue a buy-in notice for EIGH positions, subject to 11810 (a) and (m), outstanding and delinquent pursuant to SEC Rule 15c(3)-3 and FINRA 4320 and the associated rules.

EIGH is a book entry stock and therefore is protected by FINRA rule 11810, Close out Procedures, specifically sections (a) and (m), and that the Broker-Dealers have failed in their obligations by refusing to deliver requested stock certificates, non-reporting of the correct position of the current trading and naked short selling of EIGH, that they cannot as of today, deliver or control accrued securities recorded on their client accounts and that the FINRA accepted time permitted for remedy has been grossly exceeded in all parameters.
The basic premise of the position is your definition of control of securities, “…..failure to receive or deliver transaction beyond specific limits”, pursuant to SEC Rule 15c3-3(d)(2). Delinquency in this has been proven through the submission of shareholder data relating to trading and certificate transactions and verified investor accounts protect their rights and demonstrate unequivocally, the blatant manipulation of EIGH.pk and the Rules.
Broker-Dealers simply cannot possibly control or possess the necessary numbers of shares required pursuant Rules concerning the protection of Clients, FINRA Rules 4320 and 11810.
We would ask, having had reams of evidence from the Company and many shareholders to no avail, how do you wish or expect the Company and its shareholders to proceed to address independently, to aid and help you as the Regulators to protect and defend investors from manipulative practices? Please advise, please respond and most of all, please act according to your corporate charter. Protect the investors and public alike and bring to task your members who ignore the very rules they are signed and agree to abide to.
Summary
22.5% (approx. one fifth) of the total number of shareholders using the services of 24% (less than a quarter) of the total broker-dealers that trade EIGH stock, according to their verified broker-dealer account details, own 144,210,324 (101%) of the total issued. In order for this situation to not represent naked short selling of EIGH.pk, we must assume that the remaining 77.5% of shareholders do not own and have not purchased any shares. There should now be no excuse or reason for non action.
FINRA Rule 11810, states that for accrued, book entry securities:
(a) A securities contract that has not been completed by the seller according to its terms may be closed by the buyer not sooner than the third business day following the date delivery was due, in accordance with this Rule.
(m) Securities in the form of stock, rights or warrants which accrue to a buyer shall be deemed due and deliverable to the buyer on the payable date. Any such securities remaining undelivered at that time shall be subject to the “buy-in” procedures as provided under this Rule.

More stock has been issued to the public and investors of EIGH.pk than have been issued by the Company. Identified Broker-Dealers have not complied with their obligations under customer care, protection or contract, cannot deliver and do not control shares recorded as purchased within individual shareholder accounts. Under these circumstances and SEC rule 15c (3)-3, Customer Protection, an immediate buy-in notice must be issued pursuant to FINRA Rule 11810:
(a) A securities contract that has not been completed by the seller according to its terms may be closed by the buyer not sooner than the third business day following the date delivery was due, in accordance with this Rule.
(1) Written notice of “buy-in” shall be delivered to the seller at its office not later than 12:00 noon, Eastern Time (ET), two business days preceding the execution of the proposed “buy-in.”
We submit, 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!
The question that should be asked is, which shareholders legally purchased, paid for and own actual shares of EIGH.pk, and who did not? 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 as requested.

Shareholder Audit Summary
   Number of shares held

Number of audit shareholders 168 (22.5%) 144,210,324 (101%)
Total number of shareholders 745 (100%) 143,824,700 (100%)
Number of shareholders not audit 577 (77.5%) unknown Brokers used by audit 23 (24%)
Total number of active brokers 87 (100%) 143824,700 (100%)
Total number of Brokers not used 67 (76%)
Total number of shares issued    143,824,700 (100%)

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
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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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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.

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