NEW YORK, Jan. 11, 2011 (GLOBE NEWSWIRE) -- The common stock of Tree Top Industries, Inc. ("Tree Top") (OTCBB:TTII) has experienced a rash of naked short selling, verified according to the FINRA website, which keeps track of short positions on a daily basis.
Kathy Griffin, President of Tree Top, stated: "It has come to our attention that there has been unusual activity regarding Tree Top stock and the short positions according to the FINRA website. We believe that a former shareholder has been attempting, these last few days, to clear an illegal, cancelled certificate with our transfer agent, who immediately rejected the request out of hand. Tree Top, together with our transfer agent, is exploring the possibility of implementing a general "stop order", under UCC Article 8, Part 3, for all the securities associated with this particular former shareholder. Ultimately, none of those securities will clear. In the meantime, we wanted to inform our current group of shareholders and investors, that Tree Top remains on point with our business plan, as disclosed before in previous press releases and SEC filings."
Tree Top Industries, Inc.'ssubsidiaries and affiliates include clean-tech energy, bio-energy, and green energy solutions and health care companies. Tree Top is an early stage company that is animating its subsidiaries and affiliates concurrently, as it simultaneously moves to acquire companies that are in various stages of development. www.ttiiob.com
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Enterprises Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Enterprises Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Kathy Griffin President Tree Top Industries, Inc. 310-601-4757 Kathy@ttiiob.com