RLAB Discloses Apparent Short Sales of Its Stock
10 July 2010 - 12:27AM
Marketwired
Real American Brands, Inc., a non-reporting public company
(PINKSHEETS: RLAB) disclosed today that it believes a significant
number of its free-trading shares were sold short in the
marketplace on Friday, July 2nd.
According to Doug Newton, CEO of RLAB, "we are in the process of
gaining proof that the day's high volume of 9 million shares was
the result of aggressive short-selling which not only depressed
RLAB's stock price, but gives the appearance that a large number of
shares were dumped into the market following the company's release
of news of July 1st and 2nd."
Newton said "one early report indicates several million shares
were shorted that day while the facts are that I know of no single
shareholder, or company or group of shareholders who sold anywhere
near this amount of stock on July 2nd; moreover, there has been no
issuance of new stock above our current level of 165 million
shares.
"Short selling -- to the degree that it continues to go
unchecked-- can have a devastating impact on a company's image,
credibility and prospects for growth and prosperity", said Newton,
"and all NASD broker dealers must be called to task to report total
"short" positions in all customer and proprietary firm accounts in
all publicly traded equity securities, especially following the
release of public news from smaller Pink Sheets companies like Real
American Brands, Inc."
To quell rumors of a major stock promotion push, Newton said in
the last 2+ years, the company has had no discussions or made any
agreements with individuals or firms to promote RLAB. "In fact, the
company has turned down offers of cash in exchange for issuances of
free stock, because we are committed to holding RLAB's share base
at a level between below 200 million shares."
Newton said he believes the company's growing stable of
intellectual property assets and 31 year track record with the
Billy Martin's brand should command a market value of a minimum of
$20 million dollars. "At a maximum level of 200 million shares,
this would suggest a share price of 10 cents per share, or ten
times our present one penny price."
Newton said he will use all of his authority as CEO to further
investigate the short selling of RLAB stock, and publicly report to
shareholders the results of same with within next two weeks.
About Real American Brands
RLAB's focus (www.realamericanbrands.com) is to support products
and services whose origins, designs and character reflect and serve
America's unique culture, heritage and way of life. RLAB also seeks
to invest in smaller US companies and brands with potential to grow
large. RLAB owns trademarks for "Born & Bred in the USA" ®;
Lasso ®; Lariat ®; Riata ® (the Spanish word for lasso), Billy
Martin's ® -- the 31 year old western lifestyle brand -- and "Green
Blues" ®, the name of RLAB's new eco-friendly blue jean brand.
Forward-Looking Statements
Statements about RLAB's future expectations, including future
revenues and earnings, and all other statements in this news
release other than historical facts are "forward-looking
statements." Since these statements involve risks and uncertainties
and are subject to change at any time, the company's actual results
may differ materially from the company's plans if its assumptions
prove to be incorrect or for a variety of other reasons.
Contact: Doug Newton or Chance Newton
info@RealAmericanBrands.com BillyMartins@gmail.com 760-324-6834
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