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Author Topic: *** GameZNflix Rally! Coming Soon! ***
cabbage22
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I also thought it was $2500
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PSU90
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That was the original number thrown out...but when the final documentation was done, it is $5,000.

quote:
Originally posted by Degs:
Just a Question, but I thought the min was $2,500?


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PSU90
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Wow, the MM's are really trying to shake the tree here. Might have been able to squeek my buy in another tenth or so lower! Oh well..it will be more than made up in the end!
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Mav
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We already know what happend yesterday.
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Degs
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So how many shares are they offering for that price?
quote:
Originally posted by PSU90:
That was the original number thrown out...but when the final documentation was done, it is $5,000.



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PSU90
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Minimum of a $5,000 investment in the Company?s unregistered (restricted) common stock at a fifty percent (50%) discount from the average closing bid price on the last five trading days prior to receipt of Investor?s executed subscription agreement, but in no event less than $0.02 per share.

quote:
Originally posted by Degs:
So how many shares are they offering for that price?


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cabbage22
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I believe its .02 pps, unless it has changed, so 250,000 shares
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PSU90
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Well, that was kind of anti-climactic today! My last sale ticker shows a final sale of 1,400 shares at .04 and as soon as that posted, the ask dropped to .039?

The MM's are still trying to scare out some shares. Hold strong....great days are not far away IMO!

quote:
Originally posted by Mav:
We already know what happend yesterday.


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Mav
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I agree, hold strong, many good times ahead.

quote:
Originally posted by PSU90:
Well, that was kind of anti-climactic today! My last sale ticker shows a final sale of 1,400 shares at .04 and as soon as that posted, the ask dropped to .039?

The MM's are still trying to scare out some shares. Hold strong....great days are not far away IMO!



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cabbage22
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The techs are starting to get a little mixed now for the short term, might see some consolidation back to .035ish- but longer term still a long way to go.

Of course techs are not always right, because they are AFTER THE FACT. Still holding strong- going long long long


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PSU90
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I think some of this is from the people trying to daytrade. They wanted to lock in a decent profit (easy 25%) since last week and not hold over Christmas.

I understand their style, but knowing what we know is coming, there is no way I'd daytrade this right now. The big move is coming soon and I wouldn't want to be on the outside looking in. After the big move is the time to consider playing the dips (at least that's how I look at it).

quote:
Originally posted by cabbage22:
The techs are starting to get a little mixed now for the short term, might see some consolidation back to .035ish- but longer term still a long way to go.

Of course techs are not always right, because they are AFTER THE FACT. Still holding strong- going long long long



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PSU90
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Ok....time to run and start getting everything ready for Christmas.

Merry Christmas to all the great people on this thread. Have a safe and happy holiday season.

[This message has been edited by PSU90 (edited December 24, 2003).]


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Mav
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Before leaving for Christmas reunion I wanted to share with you the Big winners of 2003, notice that this report includes NetFlix (NFLX) in their ranking, Could PGHI be among the best for 2004 ?. MERRY CHRISTMAS !!!.

Big winners of 2003.
The obvious winners of 2003 were, you guessed it, Tech stocks. Let us take a look at some of the big winners in 2003. All prices were estimated at close on December 18, 2003. In the last 52 weeks, Yahoo (YHOO) leapt from $16 and change to over $40. Amazon (AMZN) went from $18.43 to close near $49. NetFlix (NFLX) surged from $9.58 to $51 and change. Ask Jeeves (ASKJ) jumped from $2.40 to $18.64.

[This message has been edited by Mav (edited December 24, 2003).]


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Magoo
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Just got back in from work today and can see all the activity which has taken place. Good to see that we are still in the .039 or .04 range which seems to be a good base at this time. It was just a few days ago we were at .03

My group was able to get some some more shares secured so those will be put to bed for the long run. Probably have had newer people come in and day trade today and run with the profits. Nothing wrong with that but I did buy their shares today and they can't have them back.

Friday is a short day for tradeing and I am not going into work. I plan on buying heavy on friday so if you are wanting to purchase shares then get in early. I will put in buy orders after an hour or two into the session. If you want to buy try to get in early as I need to fill a bigger boat. I will be trying to pick up about 1 million shartes and then see where the price stands. I would like to move up the base PGHI is at.

Like Mach had mentioned a slower step up gives this a stronger base.

PS I don"t like the MM's

Merry Christmas to all


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TRSTURGUT-18
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MACH...

'In 2002, consumers spent $20.3 billion buying and renting DVDs.'

DVD GEARED FOR BIGGEST 4TH QUARTER EVER

More than Two Billion DVD Titles Shipped Since Launch

DVD Players on Target to be in More Than Half of U.S. Homes by Year-End

LOS ANGELES (Oct. 21, 2003) - DVD title shipments continue at a record pace as the industry ramps up for the holiday selling season. In the third quarter of 2003, nearly 215 million DVD software units shipped to retail, a 40 percent increase over the same period last year. According to figures compiled by Ernst & Young on behalf of the DEG: Digital Entertainment Group (DEG), the total number of units shipped in North America has reached more than two billion since the DVD format's launch in 1997.

NORTH AMERICAN DVD-VIDEO SOFTWARE SHIPMENTS BY QUARTER (in millions)


QUARTER 1997 1998 1999 2000 2001 2002 2003

1st Quarter N/A 3.3 11.1 29.0 69.2 120.1 231.7
2nd Quarter N/A 4.1 13.9 33.2 81.7 152.2 195.5
3rd Quarter 2.3 5.9 29.0 42.7 75.9 153.3 ---
4th Quarter 3.2 11.8 44.0 77.5 137.6 259.4 ---
YEARLY TOTAL 5.5
25.1 98.0 182.4 364.4 685.0 641.8
TOTAL SHIPMENTS
(since launch) 30.6 128.6 311.0 675.4 1,360.4 2,002.2
(a/o 9/30/03)


Figures compiled by Ernst & Young on behalf of the DEG: Digital Entertainment Group

Industry Metrics

• In 2002, consumers spent $20.3 billion buying and renting DVDs.

• In 1999, 4.1 million DVD players shipped in the U.S. 4.4 million DVD players shipped in the first quarter of 2003 alone.

• DVD represented over 57% percent of consumer home video spending.

• In the third quarter of 2003, nearly 215 million DVD software units shipped to retail, a 40 percent increase over the same period last year.

• The total number of units shipped in North America has reached more than two billion since the DVD format's launch in 1997.

Staggering numbers!The growth potential for this company just like its stock is on the uptick.With the mix of games n flix it is just a huge marketplace.Lets knock out those MM's on Friday so we can see .05 by Tuesday.That would be a nice way to begin the New Year.HAPPY HOLIDAYS TO ALL!

TRSTURGUT-18


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kcbudman
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Merry Christmas everyone!!!! Sorry I didn't get back to al of you sooner. I am happy to say that I am impressed with Franklin KY and 1535 Blackjack Road. The aerial photo's do not look at all similar, but when I get home, I will do some more looking and compare. I went there on 12-23-03 at 1220 hrs. It was a freakin monsoon the entire way. After stopping to clean my pants out twice, buying icy hot for my shoulders ad visine for my bloodshot eyes, I made it. It IS a residential neighborhood....BUT a VERY nice one. It is not a double wide on a nuclear waste site. It is a nice, large house on a large corner lot, with a walk-out basement and a rear drive accessing the basement. The house was empty....it looked like someone was in the process of moving...(duh)....we know that already. I am 100% sure of the address, as a cop led me to it. No one was home, which disapointed me, cause I had a page of Q's for JF or anyone. DO not be concerned...it is a beautiful town, lots of money in the surrounding area (horse ranches with air strips), TYCO Int'l has a factory in town....the post office is 4 minutes away.....Think of the tax advantages of haveing a nice house, business and all, but deductions and all....I only have 50K shares....BUT i am getting more when I feel the time is right....nice run the last couple of days, I am in this for a $1's. I love the company, I love the town, and I love the new PGHI HQ!!!! It is in a beautiful neighborhood!!!! I will have PIC's later, when I get out of Eastern KY....and back to modern times!!!LOL!!! my family here has no internet.....I am on a friends computer....Mach, you have done a great job, keep it up...I emailed you earlier....hope you got it....Merry Christmaseveryone!!!!!By for now.
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BetNitAll
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Thanks KC, we all appreciate you going out there. I was hoping it was something other then a house, but.....that has already been addressed. Sounds like we are getting the best of what’s available though. Thanx again KC

Ok, question here for everyone....lets say the new website comes out and the name change is all done and we are at the end of January....lets also say that the stock didn't break the .10 Where will we stand. The company still will have potential...but it sounds like we will be in for a looooong wait if that’s the case.


Looks like we have strong support at .038 at then again at .035...the resistance seems kind of scattered on the way up....I hope we are close to .05 by the time the website comes out..

Everyone have a great Christmas....and I guess we will see who the true PGHI addicts are when we see if anyone writes on Christmas day.


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newstockpicker
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Thanks for the great info!! What a bunch of people on this board!! GREAT DD!! I am in for 131,500 and planning to pick up more on Monday (have to wait for a check to clear) and if there is a slight retrace I'll be a happy camper ... averaged in @ .0301 right now but don't mind bumping it up. The eventual reward will be more than worth it. By the way, I joined VeeGeez a few weeks back and rented 2 games for the playstation 2. They came about 4 days after I signed on, they were in mailers similar to what Netflix uses and were in great shape. I don't get any time to play games, so I canceled my subscription after the first bill came in. I just wanted to see for myself how they did business, and I was totally impressed. As Mach says: Great days ahead everyone!!

Walt


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COOLORANGEFREEZE
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Thanks for that great report KC! And nice work newstockpicker! Excellent information. Hope you all have a very happy and warm Christmas... everyone
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woody
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Hi all who have been posting on this thread and the previous thread on this topic. I am very new to investing and try to read as much as I can everywhere I can to try and learn as much I can and just came across this site while looking for more ways to learn and wanted to let all you know who are giving out these tech numbers and examples (You know who you are) that you are about the best teachers I've found so far on the web anywhere. You guys should start your own TA web site. Also just wanted to let everyone know that's counting that I took my entire third quarter bonus opened an ameritrade account and got in on 100,000 shares at .03 last week and I'm in it for the long haul with everyone else. I wish I had some useful Info. post here but like I said I'm very new at this and just trying to learn. And since I have read Every single post on the last 2 threads wanted to let you all know that there are probably more people in this with you than you know. In fact I have told others at work about PGHI and at least 5 of these people are in too. Also a big thanks to Mach. For getting these threads started and keeping them going. I'm hooked.
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PSU90
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Ok...its officially Christmas here in the eastern time zone. The rest of the family is in bed. I had to check in and see what's new. I guess that classifies me as an addict BetNit!

Magoo, your post sure has me bummed that I will be offline on Friday. I'd love to watch the action on my level 2 screen! I'll be logging on asap Friday night to see how it all went.

Merry Christmas
PSU

quote:
Originally posted by Magoo:
Just got back in from work today and can see all the activity which has taken place. Good to see that we are still in the .039 or .04 range which seems to be a good base at this time. It was just a few days ago we were at .03

My group was able to get some some more shares secured so those will be put to bed for the long run. Probably have had newer people come in and day trade today and run with the profits. Nothing wrong with that but I did buy their shares today and they can't have them back.

Friday is a short day for tradeing and I am not going into work. I plan on buying heavy on friday so if you are wanting to purchase shares then get in early. I will put in buy orders after an hour or two into the session. If you want to buy try to get in early as I need to fill a bigger boat. I will be trying to pick up about 1 million shartes and then see where the price stands. I would like to move up the base PGHI is at.

Like Mach had mentioned a slower step up gives this a stronger base.

PS I don"t like the MM's

Merry Christmas to all



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BetNitAll
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well, i am an addict too. i am at the airport waiting for my flight. i hope i can find some reception where i am going. will be in wyoming tomorrow. i have my laptop and my wireless pda, but i am afraid its all going to be useless to me. well i am going to step back in time now: merry Christmas to all.
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machtabow2
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MERRY CHRISTMAS TO ALL MEMBERS!

MACH


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machtabow2
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Woody,

Nice Post. I'm glad to see that as an investor you have taken the time to read not only this thread, but the previous thread. There certainly are many bright minds following GameZNflix (PGHI) and the ongoing developments of the company and it's subsidiary Veegeez.com. It's exciting to know that we are all on the ground floor of a company that has such explosive potential. Keep in mind you do not need to be a tech guru to post useful information here... Any insight, marketing ideas, articles you find on the net... are greatly appreciated. Looking forward to a great New Year ahead! mach

quote:
Originally posted by woody:
Hi all who have been posting on this thread and the previous thread on this topic. I am very new to investing and try to read as much as I can everywhere I can to try and learn as much I can and just came across this site while looking for more ways to learn and wanted to let all you know who are giving out these tech numbers and examples (You know who you are) that you are about the best teachers I've found so far on the web anywhere. You guys should start your own TA web site. Also just wanted to let everyone know that's counting that I took my entire third quarter bonus opened an ameritrade account and got in on 100,000 shares at .03 last week and I'm in it for the long haul with everyone else. I wish I had some useful Info. post here but like I said I'm very new at this and just trying to learn. And since I have read Every single post on the last 2 threads wanted to let you all know that there are probably more people in this with you than you know. In fact I have told others at work about PGHI and at least 5 of these people are in too. Also a big thanks to Mach. For getting these threads started and keeping them going. I'm hooked.


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machtabow2
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Great Read by Phantom on RB. Mach

VIDEO RENTAL MARKET BOOMING

In a time of war, people in broadcasting want to know what people are going to watch. What was anticipated was that people would watch coverage very extensively and other types of programming (movies, video games, reality shows, etc.) would be forgotten. That happened in the first 72 hours. But after that, normal patterns resumed. And, in fact, video rentals are booming right now. In spite of - or maybe because of - the war, the numbers are huge. People want diversion from the war, and they’re getting it from movies. Netflix, the subscription video service, has even crossed the million-member mark in recent days. People see these services as a fixed expenditure, so they know exactly what they will pay. And they don’t have to leave their home or deal with unanticipated late fees. The video game market is also booming. It’s actually even bigger than the video movie market these days. And, according to the New York Times, Netflix has inspired about 15 to 20 video game companies that have started their own subscription rental businesses using a similar business model. Video games are much more expensive than movies, at about $50 or $60 a pop. And, sometimes you get bored playing the same game over and over. So, renting games has become a booming business.


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machtabow2
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Another Great Read by Phantom...

Saturday, September 6, 2003

Videogames: Next Big Thing
"Music? Sales down. Hollywood? Hit or miss. Tech? Flat." So, what are the options? Writes Fortune:

Games are becoming culturally pervasive, stealing time and dollars from other consumer entertainment options like movies, television, and, ahem, magazines. On average an American will spend 75 hours this year playing videogames, more than double the amount of time spent gaming in 1997 and eclipsing that of DVD or tape rentals today, according to market research firm Veronis Suhler Stevenson. Of the other forms of entertainment, only Internet usage is expected to grow faster than videogames—a fact that the videogame makers plan to use to their advantage.

And with time comes money. Though the global videogame market was just $28 billion in 2002, some people think it's on track to rival the movie, music, or television industries, perhaps by the end of this decade. Music sales have been falling in recent years, the moviegoing experience hasn't changed that much since Gone With the Wind, and network TV is on the skids. The games business has been racking up double-digit growth rates for the past decade, even through the recent tech slump.

Electronic Arts wants to become the "biggest and best entertainment company in the world", according to its CEO Lawrence Probst III. Adds Fortune: "Its stock recently hit an all-time high of $90, making the $13.2-billion-market-cap company the world's fourth-largest software maker, behind Microsoft, Oracle, and SAP."


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machtabow2
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Another...

Nov/Dec exerpts, Yahoo Entertainment news...

Top cable networks like Spike TV, MTV and Game Show Network are focusing on original programming that revolves around video games in an effort to regain the loyalty of an audience segment coveted by advertisers.

If the nation's largest cable carrier, Comcast, purchases TechTV -- a transaction that has not been confirmed by either party, despite widespread media speculation -- video game programming likely would get a further boost. If a purchase is finalized, Comcast is expected to combine San Francisco-based TechTV, which reaches 40 million homes, with its Los Angeles-based video game channel, G4, which reaches 11 million homes. Such a combination would give dedicated video game programming a much larger TV presence.

Several factors, beyond money, are fueling Hollywood agencies' current interest. Led by PlayStation and PlayStation 2, and including Xbox and GameCube, there are more than 60 million video-game consoles in U.S. homes today. More than 168 million Americans play video games.

While the U.S. market is the fastest-growing sector, it's only a part of a worldwide audience that plays video games. Couple this global reach with an elusive 18- to 34-year-old male population that spends more time playing games than watching TV, and you can see what's grabbing the attention of major Hollywood players.

"There's a whole new generation of Hollywood producers, writers, directors and actors that grew up playing games," explained Boesky, the video-game agent for International Creative Management. "These people understand games, they play games, and they often want to become involved in games."


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machtabow2
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We need this guy on this board. mach

PricewaterhouseCoopers LLC

And by 2007, the company forecasts, software and hardware for games will be worth about $56 billion in North America alone. Put simply, video gaming is the world's fastest growing form of entertainment. "Nobody would be in this business if they weren't making money," says Lisa Webber, Microsoft Canada's marketing manager of PC games.

There are more profits on the horizon. Technological advances in computer chip development enable companies to put faster console systems and games with better graphics out year after year, so consumers keep having to upgrade their systems and buy updated titles if they want to enjoy the latest and greatest. Currently, Sony, Microsoft and Nintendo dominate the console industry. They sell their systems at cost or even at a loss, and then make their profits on the games.


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machtabow2
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Game Reporter: Mark Perry

11/18/2003

[UPDATE] Survey of console gamers comes up with a mixed bag of preferences. GameSpot talks to the survey's lead reseacher, Billy Pidgeon.

Today, game industry analysts from the Zelos Group released findings that paint an interesting-but-complicated picture of today's typical console gamer.

- Game rentals add to the industry's overall bottom line. The study reports that about one third of respondents indicate that they rent games and these users have a high propensity to use rentals as a means to inform purchase decisions. Hardcore gamers are more likely to rent games than their avid and casual gamer counterparts. Almost half of hardcore gamers indicate they rent at least one game a month, and almost 20 percent say they rent five or more.

GS: What is driving the increased reliance or interest in renting games? Is it high retail prices? Do rentals steal revenues from retail sales or do rentals compliment and drive sales?

BP: Rental is a reliable and inexpensive method to try a game before buying it. Rental is a negative for inferior games and for short games that can be easily finished within a rental period and offer little replay value. Game rentals bring in big revenues for rental outlets and can complement and drive sale for good games with depth and replay value.


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machtabow2
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December 02, 2003

Video Rental Shows ``Extraordinary Strength'': Despite Growth of DVD Sales and Video-on-Demand, Rentals Hold Their Own

ENCINO, Calif.--(BUSINESS WIRE)--Dec. 2, 2003--Complementing the incredible growth in sales of DVDs and despite the challenges from competing technologies such as video-on-demand, video rental remains the American public's favorite way to view new release movies, Bo Andersen, president of the Video Software Dealers Association, said today. Andersen noted that the total number of DVDs and VHS cassettes rented in 2003 will be approximately the same as in 2002.

"Rather than seeing a flat video rental market as a sign of weakness, we see it as a sign of extraordinary strength," Andersen said. "With DVDs offered for purchase at remarkably attractive prices and cable and satellite companies aggressively promoting video-on-demand, one would expect pundits to speculate that the rental market would see a dramatic drop. But, in fact, that drop has not happened."

VSDA noted that:

-- DVD sales have seen double-digit increases in the past several years, but those sales have not significantly eroded the rental market. In the first half of 2003, combined DVD and VHS sales were up 27%, compared with the first half of 2002. Rentals were up 3.5% over the same period, and currently are about the same as they were in 2002. "The home video industry is offering the American public a choice between renting and buying, and the public is choosing both," Andersen noted.

-- DVD players have fallen dramatically in price and are on the top of all the gift recommendation lists this holiday season. "With DVD players falling below $30 in some instances, many lower-income households - who are more likely to rent than buy - will make the switch to DVD this quarter," Andersen predicted.

-- Many rental stores are generating an increasing share of their revenue from previously viewed DVDs, which are extremely popular. According to VSDA's most recent "benchmarking" report on independent video stores, the typical respondent video store generated approximately 14% of its revenue from sales of new and previously viewed videos (primarily DVDs), which is greater than the 11% of revenue generated from extended viewing fees (a.k.a. "late fees").

-- Video rental remains relatively constant, even though other entertainment options - such as broadcast television and theatrical admissions - have suffered decreases this year.


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machtabow2
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November 2003, Zelos Group

Partner and Senior Analyst -
Billy Pidgeon is a fifteen year veteran of the interactive electronic entertainment industry.

Research Associate -
For the last four years David Hu has been involved in marketing in the Videogame software industry.

Game Rental Business Adds Ancillary Revenues and Impacts Sales. About one third of respondents indicate that they rent games and these users have a high propensity to use rentals as a means to inform purchase decisions. Moreover, hardcore gamers are more likely to rent games than their avid and casual gamer counterparts. Almost half of hardcore gamers indicate they rent at least one game a month, and almost 20 percent say they rent 5 or more.

Consoles Can be Positioned as General Purpose Entertainment Appliances. With over 50 percent of survey respondents favoring DVD playback as the number one additional console feature, consumers do not have difficultly viewing the game console as a general purpose entertainment appliance.

Solitary Gaming Remains Prevalent. Despite interest in playing against others in an online environment, gaming remains largely a solitary activity and games that rely on social interaction have a relatively narrow addressable market. Over 73 percent of respondents claim to play games alone almost always or most of the time, and only 2 percent claim that they never play alone.


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machtabow2
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Continued reiteration of ASCENDING TRIANGLE BREAKOUT PATTERN for those whom may have missed this:

CANDLESTICK CHARTING PATTERNS
ASCENDING TRIANGLE PATTERN OCCURING
BREAKOUT IMMINENT
(Link Provided)
Let's talk about the ASCENDING TRIANGLE... This pattern is occuring here and will eventually lead to our BREAKOUT...

On the ascending triangle, the horizontal line represents overhead supply that prevents the security from moving past a certain level. It is as if a large sell order has been placed at this level and it is taking a number of weeks or months to execute, thus preventing the price from rising further. Even though the price cannot rise past this level, the reaction lows continue to rise. It is these higher lows that indicate increased buying pressure and give the ascending triangle its bullish bias. http://stockcharts.com/education/ChartAnalysis/triangle-Ascending.html

.05 has been resistance on two previous occassions. Reaction lows continue to rise. When we have our final base established at .04 and our new name change and web site are released.... OUR ASCENDING TRIANGLE PATTERN will lead to a BREAKOUT.

Also keep in mind.... as I've stated before. Because we have no previous buyers above .05... theres is ZERO upside resistance which means the BREAKOUT will be significantly stronger than most anticipate.
.10 and beyond will be here soon.

*** Future's so Bright ***


quote:
Originally posted by Mav:
ASCENDING TRIANGLE AT PGHI ....



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PSU90
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Mach....you are on a tear today! Merry Christmas! I'm only online for about 10 minutes. You should have an email from me. According to Omni on Ihub, we are reading his method correctly by changing those parameters on the Stokes. Just another potential indicator of a breakout coming!

Potential breakout alert using stochastics: http://investorshub.com/boards/read_msg.asp?message_id=1805873

Current PGHI chart using his settings for Stokes: http://stockcharts.com/def/servlet/SC.web?c=PGHI,uu[m,a]daclyyay[db][pd20,2!c4,9][vc60][iLh66,5,3!La12,26,9]&pref=G

Love the look of that PGHI chart!

PSU


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machtabow2
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WHAT IS THE POTENTIAL IMPACT OF THE SYMBOL CHANGE ON THE PRICE OF OUR STOCK? WE CAN ONLY SPECULATE, BUT IT COULD BE SIGNIFICANT. WHEN ITCN CHANGED IT'S SYMBOL TO IRAC THE STOCK SURGED FROM .02 TO .09 THE NEXT DAY! MACH

Originally posted by tommy:
Also take into consideration that when a company files for a ticker symbol change, there must be NO SHORTS on the stock previous to the change. This means that MM's MUST COVER their shorts before the change or they will be in big trouble with the SEC!

TOMMY LATER CLARIFIED IT IS THE ACTUAL SYMBOL CHANGE THAT HE WAS REFERRING TO.

*******

IMHO we have seen several instances of MM manipulation with PGHI. I love it when we have the upper-hand. Will a similar scenario as the attached occur upon our name change completion and symbol change on the bb. I’ll be around to find out! It’s coming soon! Very soon! mach

*******

"But after the company
discovered it was being victimized by naked shorting by market
makers, it changed its trading symbol to IRAC, effective July 5,
2002, which thwarted the efforts of the market makers and resulted in
a jump from $0.02 as of the next trading day after the symbol change
to $0.09 as of October 14, 2002."

*******

In addition, as a result of substantial evidence that the BBAN
shareholders have been victimized by certain market makers using a
technique known as "naked shorting", BBAN's securities counsel is
investigating the trading patterns of the stock since the plan
confirmation date of July 30, 2002. "Naked shorting" is the illegal
practice of short selling shares that haven't been borrowed, or that
don't exist. Based upon the current results of this investigation as
well as the history of BBAN's common stock, the company is beginning
the process of a symbol change which would require all shareholders
to exchange their BBAN common stock for stock with the new trading
symbol.

The company is closely monitoring the activity surrounding two other
publicly traded companies which have been victimized by naked
shorting, Intrac, Inc. and Jag Media Holdings. Intrac, Inc. was once
traded on the OTCBB under the symbol ITCN. But after the company
discovered it was being victimized by naked shorting by market
makers, it changed its trading symbol to IRAC, effective July 5,
2002, which thwarted the efforts of the market makers and resulted in
a jump from $0.02 as of the next trading day after the symbol change
to $0.09 as of October 14, 2002. Similarly, Jag Media Holdings was
also victimized by naked shorting. Convinced that naked shorts were
behind the problem, Jag recapitalized its stock by retiring the old
JagNotes.com shares and replacing them with new Class A and B shares
in Jag Media Holdings. In addition to the recapitalization, Jag also
filed a lawsuit against over one hundred brokerage institutions.
Keith McAllister, co-Chairman of the Board of BBAN, stated, "we are
not going to sit here and be victimized by individuals or
institutions and their agendas. Mr. Williams, myself and our counsel,
Steve Oshins and Ron Stauber, are working aggressively to protect the
shareholders and are prepared to fight for their value."

[This message has been edited by machtabow2 (edited December 25, 2003).]


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Groovin
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After new symbal change is complete for PGHI
,how are stocks exchanged to new issue? help for a newbie. Gunna be a Long fun ride!
Merry Christmas all!

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