Tree Top under fire from short sellers
23 February 2011 New York
Image: Shutterstock
The common stock of Tree Top Industries experienced another rash of naked short selling, verified according to FINRA.
David Reichman, chairman of the board of Tree Top stated: "We were completely surprised and confused by the exorbitant volume of trading that occurred in our stock last Friday, February 18th. According to the FINRA report that is issued every day, our stock was shorted by over 3,000,000 shares. Therefore, we are facing the possibility of a hostile seller or sellers in the market, and we are looking into ways to address this immediately."
Kathy Griffin, president of Tree Top stated: "We want our shareholders to know that we are moving ahead with the plans that we have put forward in disclosures to the public over the last few months, specifically our intention to partner with revenue producing companies, such as Sky Corporation, and our continued efforts to find investors for the BAT technology."
Tree Top is a development stage company, moving to acquire companies that are in various stages of development.
David Reichman, chairman of the board of Tree Top stated: "We were completely surprised and confused by the exorbitant volume of trading that occurred in our stock last Friday, February 18th. According to the FINRA report that is issued every day, our stock was shorted by over 3,000,000 shares. Therefore, we are facing the possibility of a hostile seller or sellers in the market, and we are looking into ways to address this immediately."
Kathy Griffin, president of Tree Top stated: "We want our shareholders to know that we are moving ahead with the plans that we have put forward in disclosures to the public over the last few months, specifically our intention to partner with revenue producing companies, such as Sky Corporation, and our continued efforts to find investors for the BAT technology."
Tree Top is a development stage company, moving to acquire companies that are in various stages of development.
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