Summus Works, Inc (SMMW) SqueezeTrigger Price Is $00016; Approximately 4 1 Billion Shares Shorted Since January 2005 According to Buyins net Research Report
Released on = August 15, 2006, 1:43 pm
Press Release Author = Summus Works, Inc.
Industry = Media
Press Release Summary = www.buyins.net is reiterating coverage of Summus Works, Inc. (PINKSHEETS: SMMW) after releasing the latest short sale data to August 2006.
Press Release Body = www.buyins.net is reiterating coverage of Summus Works, Inc. (PINKSHEETS: SMMW) after releasing the latest short sale data to August 2006. From January 2005 to August 2006 approximately 53.9 billion total aggregate shares of SMMW have traded for a total dollar value of nearly $8.6 million. The total aggregate number of shares shorted in this time period is approximately 4.1 billion shares. According to July 10th Total Short Interest, there are 49.82 million shares that have been shorted, but not yet covered. Because brokerage firms are only required to disclose what they are short on one day of the month, the average amount of Total Short Volume in stocks is approximately 20 times (20 trading days vs. 1 trading day) the disclosed Total Short Interest figure. In some cases, BUYINS.NET has seen Total Short Volume higher by as much as 100 times the disclosed increase in Total Short Interest for that given month. The SMMW SqueezeTrigger price of $0.00016 is the volume weighted average short price of all short selling in SMMW. A short squeeze began when shares of SMMW closed above $0.00016.
Month Total Vol. Short Vol. Avg. Price Short $ Value
May 8,349,482,276 642,910,135 $0.00014 $90,007 June 14,705,165,422 1,132,297,737 $0.00014 $158,522 July 7,703,771,604 593,190,414 $0.00016 $94,064 August 1,720,459,400 132,475,374 $0.00020 $26,495
* short volume is approximated using a proprietary algorithm. ** average short price is calculated using a volume weighted average short price. *** short volume is the total short trade volume and does not account for covers. About Summus Works, Inc.
Summus Works, Inc. (PINKSHEETS: SMMW) is a multi-media holding company with interests in outdoor sports, retail, e-tail, print, web, television and film. For more information on the company or its outdoor sports and media subsidiaries, visit www.summusworks.com.
About BUYINS.NET
WWW.BUYINS.NET is a service designed to help bonafide shareholders of publicly traded US companies fight naked short selling. Naked short selling is the illegal act of short selling a stock when no affirmative determination has been made to locate shares of the stock to hypothecate in connection with the short sale. All material herein was prepared by BUYINS.NET, based upon information believed to be reliable. The information contained herein is not guaranteed by BUYINS.NET to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. Summus Works, Inc. has paid $2,985.00 to purchase data for information provided in this report.
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Web Site = http://summusworks.com
Contact Details = Contact: Investor Relations Contact: SmallCapVoice.com Stuart T. Smith 512-267-243