SPYR, Inc. (SPYR) Retains BUYINS.NET to Surveil Market Makers and Short Sellers
-Approximately 28 Million Total Shares Shorted Since September 2009
-Short Squeeze Under Way As Stock Is Above $0.423 "SqueezeTrigger"
DENVER, March 27, 2017 /PRNewswire/ -- SPYR, INC. (SPYR), a holding company with wholly owned subsidiaries in both the mobile game & app development and publishing industry, and in the restaurant industry announced today that BUYINS.NET, http://www.buyins.net, a leading provider of Regulation SHO compliance monitoring, short sale trading statistics and market integrity surveillance, has initiated coverage on SPYR Inc. (OTC: SPYR) after releasing the latest short sale data through March 21, 2017. BUYINS.NET found the following: (a) The total aggregate number of shares of SPYR's common stock shorted since September 2009 is approximately 28 million shares; (b) Approximately 32.60% of daily trading volume is short selling; The SqueezeTrigger price for all SPYR shares shorted is $0.423; and, (c) Shares of SPYR are above the SqueezeTrigger Price. According to BUYINS.NET, a short squeeze has begun.
Regulation SHO requires bona-fide market-making activities to only include making purchases and sales in roughly comparable amounts. The SEC stated that bona-fide market-making DOES NOT include activity that is related to speculative selling strategies for the investment purposes of the broker-dealer, and that is disproportionate to the usual market making patterns or practices of the broker-dealer in that security. Likewise, where a market-maker posts continually at or near the best offer, but does not also post at or near the best bid, the market-maker's activities would not generally qualify as bona-fide market-making. Moreover, a market-maker that continually executes short sales away from its posted quotes would generally not be considered to be engaging in bona-fide market-making.
Based upon BUYIN's "Squeeze Trigger," and "FrictionFactor" research on SPYR, 58% of the 38 previous trading days indicated negative or bearish-biased market activity that in BUYIN's opinion is indicative of unfair market making.
The BUYINS.NET Report can be reviewed at: http://www.buyins.com/reports/spyr3-21-17.pdf.
BUYINS.NET's analysis of the SqueezeTrigger can be reviewed at: http://www.buyins.com/images2/spyrstr3-21-17.jpg,
Data from BUYINS.NET regarding the Friction Factor can be viewed at: http://www.buyins.com/images2/spyrff3-21-17.jpg.
Click here for detailed information about BUYINS.NET: http://www.buyins.com/brochure.pdf.
BUYINS.NET monitors SPYR market-makers daily for compliance with Fair Market-Making Requirements.
SPYR, INC. is a holding company that through its wholly owned subsidiary SPYR APPS, LLC, is engaged in mobile application and game publishing and development. SPYR, INC. also owns and operates an "American Diner" theme restaurant located in the Philadelphia International Airport in Philadelphia, Pennsylvania called "Eat at Joe's®" through its other wholly-owned subsidiary, E.A.J.: PHL Airport Inc. The Company is currently exploring opportunities for additional acquisitions in these and other verticals, including mobile application and game development, in order to expand its holdings, to drive and increase revenue and to generate profits and build value for shareholders.
BUYINS.NET, http://www.buyins.net, publishes independent information and opinions based on its monitoring of trading in U.S. publicly traded companies. BUYINS analysis of trading in all US stocks occurs in real time. BUYINS maintains historical databases of short sale and naked short sale time and sales data, short squeeze SqueezeTrigger prices, market-maker price movements, shareholder data, statistical data on earnings, sector correlation, seasonality, hedge fund trading strategies and comparable valuations. Important disclosures and disclaimers associated with any BUYINS reports on SPYR can be found in the following link: http://www.buyins.com/reports/spyr3-21-17.pdf .
Safe Harbor Statement:
This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance or guarantee that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to: adverse economic conditions, competition, adverse federal, state and local government regulation, international governmental regulation, inadequate capital, inability to carry out research, development and commercialization plans, loss or retirement of key executives and other specific risks. To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Readers are advised to review our filings with the Securities and Exchange Commission that can be accessed over the Internet at the SEC's website located at http://www.sec.gov, as well as SPYR's website located at http://www.spyr.com, and SPYR's community channel on Twitter located at https://twitter.com/spyrinc.
Investor Relations Contacts:
Marmel Communications, LLC
Consulting for Strategic Growth 1 Ltd.
Tel: 800-625-2236 ext. 7770
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SOURCE SPYR, INC.