Healthnostics addresses unusual trading 18 May 2011New York Reporter: Steven Lafferty
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Healthnostics, Inc. previously issued guidance regarding short-sales of Healthnostics, Inc. common stock. At that time there was strong circumstantial evidence indicating a sizable short position in the stock. Unusual trading activity has continued, involving new market-makers and a significant increase in volume, likely including illegal naked short selling. The Company is investigating this activity, and reports of current market-maker positions and shareholder listings are being requested.
However, the best defenses against short-selling are strong fundamentals, which Healthnostics' unfolding business plan continues to support. This will be validated when the Initial Information and Disclosure Document for filing on the OTC Market reporting system is filed later this quarter.
In the opinion of management, the Company's reported earnings, earnings guidance, and product development indicate that the current price of the stock is significantly undervalued.
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