HOUSTON, TX--(Marketwire - March 31, 2010) - Bederra Corporation (PINKSHEETS: BEDA) is announcing plans to enhance shareholder value through increased transparency, corporate visibility and efforts to increase the company’s current price per share of its common stock.
Management announced that it has established and funded a corporate account with which to initiate the company’s previously announced share buy back program. Within one day, the company should have an account number and will begin to repurchase shares from the open market.
Furthermore, in response to what appears to be a significant and concerted effort to suppress the price per share of the company’s common stock through short and or naked short sales, the company has engaged Buyins.net as a consultant in order to evaluate a “SqueezeTrigger Price” per share for Bederra common stock. SqueezeTrigger is the volume weighted average price of all shares shorted. Bederra will implement the buy back of its shares and execute trades at any price below or equal to the SqueezeTrigger price, as it is determined over the course of the next six months. Bederra will re-evaluate the company’s price per share and market capitalization at the end of its contract period with Buyins.net.
Buyins.net will advise the company over the next six months on strategies relating to the concerns over the company’s recent appearance on the REG SHO Threshold Security List. Management is concerned about the large amount of short sales over the past several months and anticipates the expertise of Buyins.net will help evaluate whether or not market makers and short sellers are complying with Regulation SHO.
Management engaged Buyins.net with specific relevance to its buy back and to enhance shareholder value and further position the company for efficient long-term growth through mergers and acquisitions. This strategy has been formulated over several weeks of management’s analysis, communication with shareholders and third party analysts, and was solidified following the closing of Bederra’s acquisition of Texas Mobile Health, Inc. upon examination of the volume weighted price per share of trades in Bederra following the announcement of the acquisition.
Furthermore, in order to increase shareholder and public transparency, Bederra management has stated that it is the goal to have the company upgraded to a categorization of “Pink Sheets Current Information” on www.otcmarkets.com (www.pinksheets.com). Management reiterated that the company’s recently engaged CFO is in the process of reviewing and revising all of Bederra’s outstanding filings in addition to compiling new and current financials and disclosure, accounting for the recently completed acquisition of Texas Mobile Health, Inc., and legal counsel has also been retained for the purpose of expressing legal opinion with respect to the company’s filings, as posted. These steps should take Bederra to the upgraded listing of “Pink Sheets Current Information” -- the top tier of Pink OTC Markets, Inc.'s categorization for pink sheet companies -- within the next few weeks.
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About Bederra Corp.
Bederra Corporation provides multiple modality diagnostic medical imaging services to the greater Houston area and the world famous Texas Medical Center. The Company’s business strategy is to continue to expand its current operations and seek out additional acquisitions that will complement its core offerings.
Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company’s expectations with regard to the future impact on the company’s results from new products and services in development, including any planned acquisitions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements might not occur. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company’s plans or expectations.
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