Forbes Sheds Light on Pegasus, Oxbridge Scheme

CONTRIBUTOR Thomas Catino http://www.antandsons.com : Pegasus Wireless (Nasdaq: PGWC) has risen dramatically from a low of $.60 just earlier this week, trading up an additional 18% to $1.16 on nearly four times the daily average volume. Pegasus is being highlighted in a more fair and balanced tone by the media as a result of this morning's Forbes article. This is in stark contrast to the recent media attacks on Pegasus and accusations against the company and its executives who have been accused of manipulating the share price by forcing short-sellers to cover their short positions through a warrant scheme. In a nutshell, the article states that a Nevis-based advisory firm called Oxbridge International had arranged a private placement in Pegasus without the authorization of the company. Evidence of foul play became more evident as trading volume began to increase, short sellers flocked to the stock and when Pegasus moved to a new exchange with greater regulatory scrutiny. While none of the regulatory agencies have commented on whether the matter is under investigation, CEO Jasper Knabb, and certainly angry shareholders, will not let the matter rest until someone is held accountable for the collapse in Pegasus stock.

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