NEW YORK, Feb. 23, 2011 (GLOBE NEWSWIRE) -- The common stock of Tree Top Industries, Inc. ("Tree Top") (OTCBB:TTII) (OTCQB:TTII) experienced another rash of naked short selling, verified according to the FINRA website, which keeps track of short positions on a daily basis.
David Reichman, Chairman of the Board of Tree Top stated: "We were completely surprised and confused by the exorbitant volume of trading that occurred in our stock last Friday, February 18th. According to the FINRA report that is issued every day, our stock was shorted by over 3,000,000 shares. Therefore, we are facing the possibility of a hostile seller or sellers in the market, and we are looking into ways to address this immediately."
Kathy Griffin, President of Tree Top stated: "We want our shareholders to know that we are moving ahead with the plans that we have put forward in disclosures to the public over the last few months, specifically our intention to partner with revenue producing companies, such as Sky Corporation, and our continued efforts to find investors for the BAT technology."
About Tree Top Industries, Inc.: Tree Top is a development stage company, moving to acquire companies that are in various stages of development. Tree Top uses several different paradigms, including stock exchange, joint venture, cash, and other partnership configurations. Tree Top is a publicly listed, independently audited company that offers structure, transparency, and growth potential through various business paradigms. Tree Top can provide the means, through incubation, for domestic, foreign and international private companies to become part of a public entity in good standing, whose securities are publicly traded. ()
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 Exchange 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 Exchange 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: Tree Top Industries, Inc. 310-601-4595 Info@ttiiob.com