Message #33 From:
NewsBot Date: July 17, 2006 06:30:00 AM
MSEP News MotorSports Emporium Applauds SEC Short Interest Reporting; Short Interest Rule Expands to Over-the-Counter Securities
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--July 17, 2006--MotorSports Emporium Inc. (OTCBB:MSEP) applauds SEC short interest reporting rule.
David Keaveney, MSEP President and CEO comments, "According to Rule 3360(a) NASD members are required to maintain a record of total short positions in all customers and proprietary firm accounts in NASDAQ securities and requires members to report such information to the NASD on a monthly basis. Furthermore, short interest reports must be made as of the settlement date (currently the 15th of the monthly). Earlier this year the SEC approved amendments to Rule 3360 that expand the short interest reporting requirements to over-the-counter (OTC) equity securities. The NASD intends to have data available on the OTCBB web site that will show monthly short activity beginning July 25, 2006."
Keaveney continues, "MSEP applauds the SEC and NASD in their efforts to bring even more transparency to the OTCBB."
Users can query a specific OTC security's reported short interest position for a particular month. The query will return the security name and symbol, OTC market type (Bulletin Board or other-OTC), current month short interest, percent change from the previous month's short interest, average daily share volume and days to cover.
Questions regarding OTC equity short interest data may be directed to Orlando Cortes at 212-858-5143; e-mail: orlando.cortes@nasd.com. Questions concerning the short interest reporting requirements may be directed to the Legal Section, Market Regulation at 240-386-5126, or Office of General Counsel at 202-728-8071. Visit www.otcbb.com for further information.
This news release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the company's analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein.
