Post by bg317 on Jun 25, 2007 12:31:24 GMT -5
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Paivis Corp. Updates Shareholders
ATLANTA, GA, Jun 24, 2007 (MARKET WIRE via COMTEX) -- Paivis Corp. ("PAIVIS" or the "Company") (OTCBB: PAVC) management today announces that it has sent a Cease and Desist letter to end the trading of PAVC on the Berlin-Bremen Stock Exchange. The Company subsequently has been in contact with the listings department of the Berlin-Bremen Stock Exchange.
Mr. Greg Bauer, Paivis Corp. CEO, stated: "We have been made aware of who listed the Company without its authorization, and we have been rapidly taking steps to ensure this trading on Berlin-Bremen Stock Exchange ceases."
Listing of shares on the Berlin-Bremen Stock Exchange has in the past been associated with naked short selling of shares in the United States. The Berlin listing possibly creates a "sham" arbitrage between the two markets that apparently may generate a "loophole" in the Reg. SHO naked short selling regulation that governs short selling in the U.S. securities markets.
The Company also wishes to inform its shareholders that it is continuing to investigate why certain online brokerage firms are not allowing customers to purchase Paivis' common stock. To date, through inquiries with representatives of some online brokerage companies, the Company has not received a reasonable explanation for why only selling of PAVC is permitted.
Paivis has previously announced that management felt there may be "discrepancies and imbalances in the Company's share structure." Due to that belief, the Company is implementing a comprehensive plan, including the actions being taking regarding the Berlin-Bremin Stock Exchange, to investigate and combat 1) any imbalances from "failures to deliver" that may exist and 2) naked short selling it feels it is a likely victim of.
In closing, Mr. Greg Bauer, Paivis Corp. CEO, commented: "The Company has had an abnormal trading history since over a year ago, and we have been trying to understand the causes and prevent future abnormalities. We will continue to take action to protect our shareholders from any irregularities in our trading market and potential illegal naked shorting of its security. As more information comes available we will update our shareholders and prospective investors."
About Paivis Corporation
Paivis Corp. is a wholesale telecommunications carrier that sells prepaid "point-of-sale activated" and live cards. Paivis generates its revenues through the sale of prepaid calling cards and wireless services, and international wholesale termination. Products are sold throughout many of the country's major retail outlets, including Duane Reade, 7 Eleven, and Chevron.
FORWARD-LOOKING STATEMENTS
The Private Securities Litigation Reform Act of 1995 (the "PSLRA") provides a "safe harbor" for forward-looking statements so long as those statements are identified as forward-looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in such statements.
Statements contained herein that are not based on historical fact, as well as other statements including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "will," "could" and other similar expressions, constitute forward-looking statements under the PSLRA. PAIVIS intends that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause PAIVIS actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in PAIVIS annual, quarterly and other periodic public filings on record with the Securities and Exchange Commission which can be viewed free of charge on its website at www.sec.gov.
Contact:
Paivis Corp.
Greg Bauer
Chief Executive Officer
Phone: 404-601-2885
www.paivis.com
SOURCE: Paivis Corp.
CONTACT: www.paivis.com
Paivis Corp. Updates Shareholders
ATLANTA, GA, Jun 24, 2007 (MARKET WIRE via COMTEX) -- Paivis Corp. ("PAIVIS" or the "Company") (OTCBB: PAVC) management today announces that it has sent a Cease and Desist letter to end the trading of PAVC on the Berlin-Bremen Stock Exchange. The Company subsequently has been in contact with the listings department of the Berlin-Bremen Stock Exchange.
Mr. Greg Bauer, Paivis Corp. CEO, stated: "We have been made aware of who listed the Company without its authorization, and we have been rapidly taking steps to ensure this trading on Berlin-Bremen Stock Exchange ceases."
Listing of shares on the Berlin-Bremen Stock Exchange has in the past been associated with naked short selling of shares in the United States. The Berlin listing possibly creates a "sham" arbitrage between the two markets that apparently may generate a "loophole" in the Reg. SHO naked short selling regulation that governs short selling in the U.S. securities markets.
The Company also wishes to inform its shareholders that it is continuing to investigate why certain online brokerage firms are not allowing customers to purchase Paivis' common stock. To date, through inquiries with representatives of some online brokerage companies, the Company has not received a reasonable explanation for why only selling of PAVC is permitted.
Paivis has previously announced that management felt there may be "discrepancies and imbalances in the Company's share structure." Due to that belief, the Company is implementing a comprehensive plan, including the actions being taking regarding the Berlin-Bremin Stock Exchange, to investigate and combat 1) any imbalances from "failures to deliver" that may exist and 2) naked short selling it feels it is a likely victim of.
In closing, Mr. Greg Bauer, Paivis Corp. CEO, commented: "The Company has had an abnormal trading history since over a year ago, and we have been trying to understand the causes and prevent future abnormalities. We will continue to take action to protect our shareholders from any irregularities in our trading market and potential illegal naked shorting of its security. As more information comes available we will update our shareholders and prospective investors."
About Paivis Corporation
Paivis Corp. is a wholesale telecommunications carrier that sells prepaid "point-of-sale activated" and live cards. Paivis generates its revenues through the sale of prepaid calling cards and wireless services, and international wholesale termination. Products are sold throughout many of the country's major retail outlets, including Duane Reade, 7 Eleven, and Chevron.
FORWARD-LOOKING STATEMENTS
The Private Securities Litigation Reform Act of 1995 (the "PSLRA") provides a "safe harbor" for forward-looking statements so long as those statements are identified as forward-looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in such statements.
Statements contained herein that are not based on historical fact, as well as other statements including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "will," "could" and other similar expressions, constitute forward-looking statements under the PSLRA. PAIVIS intends that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause PAIVIS actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in PAIVIS annual, quarterly and other periodic public filings on record with the Securities and Exchange Commission which can be viewed free of charge on its website at www.sec.gov.
Contact:
Paivis Corp.
Greg Bauer
Chief Executive Officer
Phone: 404-601-2885
www.paivis.com
SOURCE: Paivis Corp.
CONTACT: www.paivis.com