That's ok.
Evidently OSTK put out a release today that it hit its 800th day on the SHO list yet it issued a press release (see below also) that it had dropped off less than 800 days ago. Is this the same as GAAP, non-GAAP math?
[text of press release deleted]
Edited By Siteowner
Good point. I edited out the full text of the press release that you pasted in your item, as I think your point is made without quoting the whole thing.
seems like a omission of purpose. written so that it could lead someone to assume that 800 "consecutive" days when that is not the case but they surely do not break it out clearly.
Overstock being dishonest? I am shocked, shocked!
Now had Boozer posted anything negative on chat boards he would have been thoroughly researched. A company must have priorities doncha know.
Apparently the SEC Inspector General and the GAO has joined the baloney brigade:
The PIPEwire
SEC Inspector General to Audit Naked Short Selling Investigations
Posted May 08, 2008 3:15PM PST
The Office of the Inspector General of the Securities and Exchange Commission is going forward with an audit of how the commission has investigated allegations of naked short selling, according to a person familiar with the situation.
The audit, which is starting this week, will look into the process the SEC's Division of Enforcement uses in responding to naked short selling complaints and referrals.
Investor advocates have argued that naked short selling, where short sellers don't borrow or deliver the stock that they've sold, has been damaging to small cap companies.
The inspector general's office, which conducts internal investigations of the SEC, will be coordinating with the Government Accountability Office. GAO officials said in April that they would conduct their own probe of the SEC's response to the issue of stock-delivery failures. The GAO investigates government agencies on behalf of Congress
I've never been shy about bashing OSTK but this "dig" is a little stretch. The whole reneg on Cleveland episode is old news.
What IS pathetic here is OSTK wasting money hiring a second rate NBA player (2nd rate as in star recognition) to be a pitch man. I bet Boozer's only other endorsement is for Big Bob's Chevrolet or some other Utah biz. He has ZERO national appeal, and thus is useless for an internet retailer.
The Company, its President and its General Counsel, Mr. Gunderson, have acted properly and in good faith. The SEC has acted without good faith in its attack on the Company, its President and its General Counsel. It has acted to destroy the principal whistleblower on naked shorting to cover its conflicted behavior as a regulator charged with protecting investors, but favoring instead Wall Street interests destroying small American public companies, their employees and investors with their illegal activities for their own profit and greed.
The selling of shares that a person does not own and never delivering such shares to a buyer would be a felony in all States of the United States.
As set forth herein, the SEC has permitted billions of shares to be sold in this manner to investors for in excess of fifteen years and, accordingly, has condoned these criminal acts
Chris,
Are you having some kind of episode? Or is senility setting in from the stress of losing your right to practice law in front of the SEC and being broke with a Student Loan Debt?
Take it from me. That is a good thing. You were a lousy lawyer and allowed the USXP Fraud and the Fraudster Altomare to steal millions. You are better off destitute and un-employable. Best for society, I believe!
PS How could you get had so bad? Or is there money hidden off-shore?
Would this be Chris. formally of the SEC office in Utah?
den-of-thieves
No! He is of the Den of Thieves and lowlife Adjudged Fraudsters of the Scam USXP, whose CEO and head conman languishes in the SDNY MCC in Manhattan.
Hard to believe that Chris was the General Counsel of a scam that bilked investors out of about $100M thru Pump & Dumps, and sits broke today with just his SS Check and a Student Loan Debt!! Or he perjured himself! He has Terminal Dopiness!
And he sits up in NY awaiting his Criminal Indictment that will likely see him off to Prison for the rest of his miserable life. Maybe he can flip on Altomare, like Altomare is flipping on him and lessen his sentence!
BTW, I highly recommend he and Altomare ask for that Jury trial they have been whining about for the last year. I am sure a NYC Jury will appreciate the 9-11 Scam perpetrated by those two fraudsters!!
-Steve
What's up with the Utah SEC Office? Obviously they are blind to the documented nonsense that OSTK and Patty blather on about! That Company is an SEC Case waiting to happen. I suppose it will take another SEC Office to pursue it, based upon your comments, eh? Or the DOJ?
Commenting by HaloScan
