Lecere Discloses Significant Short Sales of Its Stock
Software startup Lecere Corporation (Pink Sheets:LCRE)
(www.lecere.com) disclosed today that a significant number of
Lecere's free-trading shares were sold short in the month of April.
The number of shares sold short in the month of April totaled about
3.4 billion shares. The total number of free-trading Lecere shares
in circulation today is about 4.3 billion shares. The number of
free-trading shares is not expected to increase significantly in
the month of May.
According to Jim Morris, Chairman and CEO of Lecere, "The
organization that is short-selling our stock picked a very bad time
to apply this strategy, coming as it did on the heels of our
announcement of a first customer, completion of our initial POS
software product, and beginning of a pilot project. The short sales
will have to be covered soon. The only way the organization can
likely cover the short sales would be to attempt to buy 3.4 billion
Lecere shares over the next few weeks. This should be very
interesting to watch."
Morris also said that, "In talking with an attorney about what
must be done to remove the caveat emptor flag, we discovered that
the full month of May might be required to remove the flag.
Investors should rest assured, however, that the flag will be
removed just as soon as we can get the paperwork done."
Lecere Corporation (Pink Sheets:LCRE) of Portland, Oregon
develops and markets Lecere FIRMSTM, an integrated,
Web-based suite of interactive restaurant management software that
runs on handheld wireless devices. FIRMS helps restaurants
reduce their operational costs while enhancing their customers'
experiences for increased revenues and profits.
Lecere and FIRMS are trademarks of Lecere
Corporation. All other legal marks are the property of their
CONTACT: Lecere Corporation