NEW YORK, June 29, 2012 (GLOBE NEWSWIRE) -- Omni Ventures, Inc. (OTCQB:OMVE) announced today that the Board of Directors has observed a high volume of short sales by a group of market makers. The Company has made its best effort to research public information and has come to the conclusion that 25,708,284 shares may have been sold short by several market makers from January 1st through June 28th of this year.
Information regarding the number of shares, which may have been sold short, can be found at http://www.omve.net/stocks/.
The Board has consulted with significant shareholders who pledged to withdraw their stock from several clearing houses, such as Brown Brothers Harriman & Co., and Alpine Securities Corp., which may have been providing short-sellers with the ability to borrow stock needed to maintain their short positions.
"Management is focused on implementing the business plan, expanding into new lines of business, developing new revenue streams, and creating a great deal of value for our shareholders. In the meantime, we suspect that the trading in our stock is yet another example of what may be unscrupulous short-selling by several predatory market makers colluding," stated Christian Wicks, President of Omni Ventures, Inc.
He added, "Over the past couple of months, our legal counsel has sent repeated warning letters to the brokerage houses of Collins Stewart, Finance 500, Puma Capital, Lampost Capital and Buckman, Buckman & Reid to warn them of their questionable short selling activities in trading our stock. We are very happy that several of our large shareholders have pledged to immediately withdraw their respective positions from these clearing houses, with the aim of reducing the ability of the predatory short-sellers to borrow our stock and maintain large short positions. To me, this is a display of total confidence by our shareholders, which sends a clear signal to those who may engage in speculative short sales. We also researched public information and found the following. If for example one wanted to know the short volume in our stock on June 1, 2012, this link would lead to such information: http://regsho.finra.org/FORFshvol20120601.txt. Using this example, one can determine that on that day the short volume in our stock was 901,554 shares! If one just changes the dates in the link it turns out possible to track down short selling day by day, which lead us to the astounding number of 25,708,284 shares sold short this year to date as reported by that website, maintained by FINRA! For the convenience of our shareholders our programmers created the script, which summarizes those daily short volume reports, which can be seen at http://www.omve.net/stocks/. In light of these actions, the Company is working with legal counsel and may conduct an independent investigation into the short-selling activities. Results of our findings will be reported to appropriate regulators for possible legal action. Additionally, it has been our observation that a number of stock-touting websites have been publishing various reports about out company and claiming outlandish compensation allegedly received for publishing those report. After detailed conversations with our investors, we would like to very decisively assert that neither the company nor the shareholders known to the management have caused to be published, authorized or paid for any such reports. And the only source of the authentic and authorized information about the company can be found in our own press releases and filings with the SEC."
About Omni Ventures
Omni Ventures, Inc. is the owner of PRVCY Couture, Inc., the casual couture apparel and accessories design, manufacturing and distribution company (http://www.prvcycouture.com/) known for the "Made in Hollywood" PRVCY brands. The Company is in various stages of developing several related projects in the fields of consumer goods design, manufacturing and distribution as well as consumer services. For more info, please visit http://www.omve.net.
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission. You should carefully review the information disclosed within the section entitled "Risk Factors" contained in the Company's Current Report on Form 10Q/A filed on February 15, 2012, as well as the information contained in this release, when assessing the Company and its business. The Company undertakes no obligation to update any forward-looking statements.