China Crescent Enterprises, Inc. (CCTR) Anticipates Possible Buy-In and Short Squeeze as Company Is Listed on Reg SHO Threshold
11 Marzo 2010 - 7:01PM
Marketwired
China Crescent Enterprises, Inc. (OTCBB: CCTR) was listed on the
Regulation SHO "threshold security" list (link:
http://www.nasdaqtrader.com/trader.aspx?id=RegSHOThreshold) on
March 8, 2010. The Company is still on the list as posted at the
end of the trading day yesterday. SEC Regulation SHO targets
abusive naked short selling by reducing failure to deliver
securities and by limiting the time in which a broker can permit
failures to deliver. Management anticipates possible buy-in
pressure in conjunction with the listing.
As defined in Rule 203(c)(6) of Regulation SHO, a "threshold
security" is any equity security of any issuer that is registered
under Section 12 of the Exchange Act, or that is required to file
reports under Section 15(d) of the Exchange Act (commonly referred
to as reporting securities), where, for five consecutive settlement
days:
-- There are aggregate fails to deliver at a registered clearing agency of
10,000 shares or more per security;
-- The level of fails is equal to at least one-half of one percent of the
issuer's total shares outstanding; and
-- The security is included on a list published by a self-regulatory
organization (SRO).
A security ceases to be a threshold security if it does not
exceed the specified level of fails for five consecutive settlement
days.
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About China Crescent Enterprises, Inc.
(www.chinacrescent.com)
China Crescent is a systems integration service provider that
markets technology outsourcing services in China including the sale
and service of brand name technologies such as Microsoft, Oracle,
Cisco, IBM, HP and Dell. Following a recent strategic acquisition,
the Company has expanded its business line to include original
design manufacturing (ODM). China Crescent reported over $40
million in profitable revenue in 2008. The Company has reported
record profits through the first 9 months of 2009 and anticipates
reporting record profit in the 2009 annual report. Management has
set a goal of reaching $100 million in revenue in 2010.
Headquartered in Dallas with operations in Shanghai, Shenzhen,
Dalian and Beijing, China Crescent bridges the gap between global
business cultures to assist clients worldwide realize the
advantages of the high quality, low cost technology products and
services available from China. China Crescent also assists clients
in localizing products and services to realize the tremendous
growth potential available by expanding into the Chinese
Market.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995
This press release contains forward-looking statements that
involve risks and uncertainties. The statements in this release are
forward-looking statements that are made pursuant to safe harbor
provision of the Private Securities Litigation Reform Act of 1995.
Actual results, events and performance could vary materially from
those contemplated by these forward-looking statements. These
statements involve known and unknown risks and uncertainties, which
may cause China Crescent's actual results in future periods to
differ materially from results expressed or implied by
forward-looking statements. These risks and uncertainties include,
among other things, product demand and market competition. You
should independently investigate and fully understand all risks
before making investment decisions.
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Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com
214-722-3060
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