KENNESAW, Ga., Sept. 13 /PRNewswire-FirstCall/ -- The following statement is being issued by Rufus Paul Harris, Chief Executive Officer of Conversion Solutions Holdings Corp (OTC Bulletin Board: CSHD), a Delaware Corporation. Depending on who you speak to, the events of the last thirty days could be the beginning of the end for a trading dynasty. The "Short" selling of Conversion Solutions Holdings Inc. (OTC Bulletin Board: CSHD) company stock by a once loved and respected trading house may have sealed that company's fate as it is now perceived to specialize in "Shorting" OTC Bulletin Board stocks. Short selling of OTCBB stock is legal, and is used by some companies to create liquidity where there is none. Why would a stock be stagnating, you may ask? In some instances anticipation of an upcoming 10K or a price reset might cause a company's share holders to sit tight and hold for a time. Companies that participate in the practice of "Short" selling either: buy their positions out of the market or go bankrupt. Conversion Solutions Holdings Inc. has filed 8K documentation, announcing nearly 2.6 billion dollars in assets and yet TD Ameritrade (and their subsidiaries) continue to sell shares they don't own, or have the ability to borrow. TD Ameritrade responds not by buying the stock out of the market, to cover their "Shorts," but by refusing their customers their legitimate right to buy more OTC Bulletin Board: CSHD stock. Some Conversion Solutions Holdings Inc. supporters have shared their thoughts and feelings on the forum http://www.hotstockmarket.com, many of whom vow to press litigation against TD Ameritrade for not allowing them to purchase more CSHD stock. This stock has been on regulation SHO for 25 consecutive days and it has been confirmed that it has been "Shorted" by an objective "Third Party." To peruse this information please visit http://www.buyins.net, they assert, "the 'Shorting' is over...16,000,000 shares with others estimating the 'Shorting' to be as high as 60,000,000." Currently, the Company has 62,000,000 shares outstanding, and simple calculations would assess a current book value for this company, as of today, at approximately $41.93 per share. Then the sum, when multiplied by a minimum of 16,000,000 shares shorted, comes to minimum of $670,880,000. A market analyst concludes this stock may be conservatively valuated at 2x its book value ($1,341,760,000) or put another way, about 4 times greater than TD Ameritrade's last year's net profit. Some of TD Ameritrade's clients are already requesting their stock certificates in fear that TD Ameritrade may go under. They are moving their shares to other trading houses that they believe to be less likely to short this stock. As Conversion Solutions Holdings Inc. nears its 10K due date (September 30, 2006) its share holders should look positively on the actions of their Chairman and his Board and their corporate wide confidence should be reflected and rewarded by ever increasing share values. Having said that and looking back on the events of the last thirty days I can say with certainty that it should be an interesting, but profitable ride for any person who wants to get on board to make the trip by supporting their company for the long haul. For additional information concerning "Short Selling," please read "Darkside of the Looking Glass." by Dr. Patrick Byrne http://www.businessjive.com/nss/darkside.html Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward- looking statements that are subject to risks and uncertainties that could cause the actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.
SOURCE Conversion Solutions Holdings Corp