InterestingWas looking at BML today on Stockhouse and wishing I had some.....scratch that.....wish I had a truckload. Have a look-see. Wow. Anyway, there was an interesting press release there........Wow again and holy cow! All IMHO.
GLTA and gooooooo......UBR
Barker Reports Intentional Failures to Deliver from November 1, 2010 to February 28, 2011
3/21/2011 2:00 PM - FSC
Prince George, BC March 21, 2011
FSC / Press Release
Barker Reports Intentional Failures to Deliver from November 1, 2010 to February 28, 2011
Prince George, British Columbia CANADA, March 21, 2011 /FSC/ - Barker Minerals Ltd. (TSX - VX: BML), reports that an internal review and analysis of a sixteen week period from November 2010 to February 2011 reveals significant intentional failures to deliver (FTDs) in their public share market.
During this time frame, multiple instances were identified where reported stock sales at the Toronto Stock Exchange (TSX) far exceeded the net delivery of shares for settlement through CDS. The total net sales of 4,511,178 shares in the four month period exceeded the total net settlement at CDS by 1,075,265 shares, suggesting a settlement fail rate of 23.9%. Based on STP's prior research approximately 17% is a realistic estimate of the turnover represented by fails to deliver in equity securities.
January 2011 data indicated settlement failures of 213,504 shares which is a failure rate of 20.2% of the total 1,052,352 net shares sold. February is the most significant month with settlement failures of 883,798 shares which represents an astonishing failure rate of 48.1% of the total 1,834,810 net shares sold.
Independent Expert Opinion
On November 26, 2010 the Company issued a news release announcing that the review and analysis of its internal trading and settlement data by an independent expert, STP Advisory Services Inc., confirmed that the Company's stock was the subject of manipulative market activity, specifically through "failures to deliver" (FTD's) commonly referred to as "naked short selling." Please click on the following link to see the November 26, 2010 News Release
https://www.barkerminerals.com/s/NewsReleases.asp?ReportID=431018&_Type=Company-News&_Title=Barker-Reports-STP-Advisory-Services-Confirms-Intentional-Failures-to-Deliv
About STP Advisory Services:
Dr. Trimbath is a former operations manager for depository trust and clearing corporations in San Francisco and New York. Since 2003, STP has provided support, primarily in securities litigation, to law firms, investors, companies and regulators. STP services provided can be viewed on the following link: (https://www.stpadvisors.com/litigation.html) For details of Dr. Trimbath's background in litigation support please click on the following link
https://www.stpadvisors.com/Trimbath_Litigation_Support.pdf.
Regulatory Complaint Submissions
Also announced in the November 26th news release was that a formal complaint had been submitted to the Regulators regarding the irregular trading patterns from the 16 week test period confirmed by STP to be indicative of intentional failures to deliver.
Recommendations in the STP report included continued monitoring of trading and settlement activities and to report subsequent suspected abuses to the regulators.
Following the STP Advisory Services recommendation, Barker reports that it has recently submitted a second formal complaint to the appropriate regulatory authorities regarding the intentional failures to deliver identified during the November 2010 - February 2011 time period. The submission complaint includes background information which identifies the time periods the intentional FTDs occurred and the net trading and net settlement totals of individual financial institutions from the same time period.