RBID.COM, Inc. Reports Concern Over Recent Market Activity and Plans To Investigate
23 October 2008 - 12:15AM
Business Wire
RBID.Com, Inc. (Pink Sheets:RBDC) reported today that company
officials are concerned about what they see as an unusual amount of
recent downward pressure on the company�s stock. Alan Rothman,
Chairman and CEO of RBID.Com, Inc., stated, �We are at a loss to
explain the market�s recent downward pressure on our stock,
especially given the amount of positive milestones the company has
reached and reported in press releases over the past months. We
understand that a certain amount of sell-off can be a normal part
of any market cycle. However, given all the positive news that we
have reported, we find it hard to believe that our stock has not
advanced significantly over this period. We believe it�s possible
that some form of naked short selling of our stock may have taken
place. We are preparing to order a NOBO (Non-Objecting Beneficial
Owner Report) and DTC reports and we intend to pursue all possible
means to investigate whether any naked short-selling has occurred,
and if so, we intend to take aggressive action to expose it.� About
RBID.Com, Inc. RBID.com, Inc. (http://www.rbid.com) facilitates the
acquisition, commercialization, promotion and protection of
emerging patented and/or proprietary technologies. RBID.com, Inc.
also owns exclusive U.S. and European licensing and distribution
rights to Simply Budgets home budgeting software
(www.simplybudgets.com). RBID�s business partner, Leverage Inc.�
(leveragecard.com), provides a free personal web application for
users to manage their offers and savings, gift cards, and
loyalty/rewards programs online. Leverage� customers have access to
a single application that allows them to purchase, track and
exchange gift cards, earn interest on gift card balances with
complimentary bankruptcy insurance, manage loyalty and reward
programs, and receive highly targeted offers and savings from
retailers. Leverage� also allows businesses to deliver offers and
marketing messages in a non-interruptive and completely transparent
way at the very moment customers are preparing to shop. Safe Harbor
Statement: This release contains forward-looking statements with
respect to the results of operations and business of RBID.Com,
Inc., which involves risks and uncertainties. The Company's actual
future results could materially differ from those discussed. The
Company intends that such statements about the Company's future
expectations, including future revenues and earnings, and all other
forward looking statements be subject to the "Safe Harbors"
provision of the Private Securities Litigation Reform Act of 1995.
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