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When Loftwerks "SSCC" ( Short Seller Captured Capital ) tactics is succesfull, and its proven the best medecine against the Naked Shorts, well.. than we have a new trading list to trade. The REG SHO http://www.regsholist.com/ will be the default list on my streamer.
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Here is a great post that is worth the read from another site. ---------------------------------------------------- With LFWK...
With LFWK, I think we might be seeing something evolve that could be quite historical. The verdict is still out, but I like it. Let me try to explain this as conservative as possible. Keep in mind, this is not me talking, but me deciphering what I think the company is trying to tell us.
** Sulja Bros. is a 24 year business with $30M+ Revenues annually since its inception. ** Assets = $25M with anticipated $200M+ within 24 months.
I will focus on the Revenues as opposed to the Assets because I think it’s more important to reflect what our EPS (Earnings Per Share) could be versus our BV (Book Value). Stocks normally react on a “proven” EPS versus a “proven” BV.
With Sulja Bros. averaging $30M+ in Revenues annually over the past 24 years, I think it’s safe to say that this is a company that is already established. I am not sure what are their expenses, but I will guess to say that they probably clear at least 30% as profits as a worse case scenario.
That means that I am figuring that they spend 70% in Expenses to make $30M. That means that I am guessing that it takes them spending $30M x .70 = $21M to make $30M annually leaving them with a profit of $9M.
This means $30,000,000 x .30 = $9,000,000 as Income/Profit.
Using a conservative PE Ratio of 12 reflects below:
12 PE Ratio x .03 EPS = .36 per share
This means that with not factoring in any kind of growth such as higher numbers for actual Revenues or lower numbers for actual Expenses to alter the above price for the better, LFWK should fundamentally be trading at a worth to the market of .36 cents per share. It looks like that’s the price range from where they originally started naked shorting it from researching its volume history.
The key will be for them to first announce the closing of the merger to lock in on this potential then next the SEC filings would really substantiate the validity of the merger. So please treat the information I posted as speculation until confirmed by the company officially and/or publicly. The 9 Mar 06 PR stated an initial timeline of 30 days to completion was set. That’s sometime around the end of Mar to early Apr. I know it’s only wishful thinking, but they can finish the merger earlier since that time was a “no later than” time frame. BUT WAIT!!!
There is another piece to this puzzle that I think we must consider. The “naked short” issue. That .36 per share figure above is factoring in if LFWK was in a perfect world where its trading scenario presented enough shares for the public to buy (the Float). Well, there isn’t. As far as I’m concerned, it’s official enough for me to take the risk, but it would mean much more if they could file a Form 10Q/K and/or some Forms 3, 4, and/or 5’s if needed with the SEC to confirm authentication of LFWK share ownership. Then multiplying these prices by 10 would still be considered a discount with the value of their mergers.
However, from what have already been made known to the public, without going into much detail, I think the Float is gone. That means that anything that could generate any kind of significant demand for the supply of LFWK shares would create a major problem for covering any naked shorted position.
Those PRs could be viewed as smoke and mirrors to some people for now until key information is either filed or coordinated to the SEC for confirmation. Or until we actually see an announcement that the merger is complete which would make everything else secondary because of its value. As more and more news of substance is confirmed and revealed to substantiate those PRs, one would have to wonder where the shares would come from to fulfill the demand that will be generated for LFWK shares.
Well, if there is no supply of LFWK shares to fulfill the increase of demand for LFWK shares, one option would be for the MMs to significantly raise the bid to entice us to sell to a value that would be cheaper for the MMs (or their guilty clients) to cover versus waiting until a known valuation is confirmed. Waiting to cover could really cost them to cover shares at much higher prices.
The other option would be for them to get with company to work a deal to assist them in covering from behind the scenes. I think they will try to cover on the open market first before going to the company as things could get very very expensive for them then.
Either you believe and take the risk or you don’t believe and move on. I think things will be getting very interesting in the very near future. Personally, I believe!
LoftWerks, Inc. Explains and Defines: "Short Seller Captured Capital" Monday March 13, 11:37 am ET
NASHVILLE, TN--(MARKET WIRE)--Mar 13, 2006 -- CEO Dennis Ammerman reiterated today that anyone planning to flout LFWK (Other OTC:LFWK.PK - News) stock in a "shorting position" would do so while bearing the full brunt of every available resource at the company's disposal that can be aimed to render them mute. "The small exchanges are plagued by this ludicrous and even perilous frenzy of negative influence," said Ammerman, " We can help open the door to companies that rely solely on public market funding to reclaim their rightful roles of benefactor and driving force of true and accountable shareholder value."
-- LoftWerks' share structure is: 500 million shares Authorized. -- 200 million of these shares are held in treasury for M & As and Dennis Ammerman owns 100 million shares that are Restricted. The share structure will be posted at www.loftwerks.com by March 14, 2006. The Pink Sheets website will be updated by Tuesday March 14th, 2006.
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CEO Dennis Ammerman stated; "Insiders decided to buy more shares than are legally available. There is no stock definition for this type of buying; therefore, we created our own definition. We call it 'Short Seller Captured Capital.' Insiders have expressed interest in selling blocks of shares back to the company at a later date. The shares can be introduce back into the market after LoftWerks' plans are executed, and the short sellers can complete their buy-in at a much higher price. Short Seller Captured Capital will prevent dilution of the current shareholders' value while providing insulation to the current shareholder from the effects of high-volume sell-offs."
Shares issued through the current open Rule 504 paper filing for merger expenses are issued at the closing ask price on the day of issuance.
LFWK is on schedule to complete the merger with Sulja Bros. Building Supplies. LTD., the primary distribution arm of Consultech's Midwest operations, as planned. Sulja Brothers will serve as the centralized and primary distributor of materials for all future projects. A twenty-four year old business, Sulja Bros. has achieved increasing revenues since its inception that now average over $30M annually. The company currently has assets totaling more than $25M. After merging with Sulja Bros. Building Supplies, Ltd., LFWK will finalize the full reverse transaction with Consultech Construction Management, Inc.'s Midwest office. Consultech Construction Management is currently in negotiations with federal, state, and local officials to procure storm-relief contracting services outside Biloxi, Mississippi. More details will be released at a later date.
This contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Forward-looking statements may be identified through the use of words such as "expects," "will," "anticipates," " estimates," "believes," or statements indicating certain acts (such as "may," " could," "should" or "might occur"). Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements, The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized.
-------------------- I just want to make enough money to be eccentric.
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more LFWK news -re: dividends LoftWerks, Inc. Contemplates Regular Dividends
Mar 13, 2006 1:02:00 PM NASHVILLE, TN -- (MARKET WIRE) -- 03/13/06 -- LoftWerks (OTC: LFWK) CEO Dennis Ammerman and a Consultech company representative are currently reviewing a plan to issue regular dividends to stockholders.
The plan calls for a regular quarterly dividend of $0.0025. The 300 million shares represented by Consultech and LFWK CEO Dennis Ammerman will return the dividend to the company's Operations Accounts. Two Insiders that represent 86 million shares have agreed to return the dividend to the company as well.
CEO Dennis Ammerman announced today, "The dividend is being designed to minimize effects to company profits yet incur maximum damage to the short position in our stock. Consultech and Company Insiders understand that the money spent on the dividend is necessary to achieve a reasonable fair market share evaluation for all stockholders." Two insiders, representing more than 86M shares have already agreed to return the dividend to the company. The total share count enumerated for the dividend return to LFWK operations, and subsequently Consultech, is 386M shares of the 500M Authorized.
The remaining 114 million shares will receive a $0.0025 per share dividend. LFWK estimates an equal number of short shares that will also receive the dividend. Ammerman stated, "So far, it looks like a matching dividend program from the short sellers. Every dollar the company issues, in dividend form will be matched by the short sellers. If the short sellers refuse to pay the dividend, their identity will be revealed in the 'payment in-lieu paperwork.'"
LFWK expects that the efficiencies introduced by Sulja Bros. Building Supplies' new role as exclusive supplier will pay for the dividend. Ammerman commented: "The savings from removing a middle-man supplier by using Sulja Brothers as the exclusive materials source directly and positively affects the LoftWerks bottom line. After the merger, this margin will still be realized by the company. Redirecting new profit to shareholder dividends is, in essence, another wash. The dividend plan serves but to increase shareholder value."
This contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Forward-looking statements may be identified through the use of words such as "expects," "will," "anticipates," " estimates," "believes," or statements indicating certain acts (such as "may," " could," "should" or "might occur"). Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements, The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized.
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The remaining 114 million shares will receive a $0.0025 per share dividend. LFWK estimates an equal number of short shares that will also receive the dividend. Ammerman stated, "So far, it looks like a matching dividend program from the short sellers. Every dollar the company issues, in dividend form will be matched by the short sellers. If the short sellers refuse to pay the dividend, their identity will be revealed in the 'payment in-lieu paperwork.'"
...This will force shorts to reveal themselves...
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NASHVILLE, TN, Mar 13, 2006 (MARKET WIRE via COMTEX) -- LoftWerks (OTC: LFWK) CEO Dennis Ammerman and a Consultech company representative are currently reviewing a plan to issue regular dividends to stockholders.
The plan calls for a regular quarterly dividend of $0.0025. The 300 million shares represented by Consultech and LFWK CEO Dennis Ammerman will return the dividend to the company's Operations Accounts. Two Insiders that represent 86 million shares have agreed to return the dividend to the company as well.
CEO Dennis Ammerman announced today, "The dividend is being designed to minimize effects to company profits yet incur maximum damage to the short position in our stock. Consultech and Company Insiders understand that the money spent on the dividend is necessary to achieve a reasonable fair market share evaluation for all stockholders." Two insiders, representing more than 86M shares have already agreed to return the dividend to the company. The total share count enumerated for the dividend return to LFWK operations, and subsequently Consultech, is 386M shares of the 500M Authorized.
The remaining 114 million shares will receive a $0.0025 per share dividend. LFWK estimates an equal number of short shares that will also receive the dividend. Ammerman stated, "So far, it looks like a matching dividend program from the short sellers. Every dollar the company issues, in dividend form will be matched by the short sellers. If the short sellers refuse to pay the dividend, their identity will be revealed in the 'payment in-lieu paperwork.'"
LFWK expects that the efficiencies introduced by Sulja Bros. Building Supplies' new role as exclusive supplier will pay for the dividend. Ammerman commented: "The savings from removing a middle-man supplier by using Sulja Brothers as the exclusive materials source directly and positively affects the LoftWerks bottom line. After the merger, this margin will still be realized by the company. Redirecting new profit to shareholder dividends is, in essence, another wash. The dividend plan serves but to increase shareholder value."ssed or implied) will not be realized.
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Wow, finally had some real profit taking at eod. I guess it traded sideways for a little too long. Can't blame the folks that rode it up from the pre 01 prices though. I guess we can't be green EVERY day!
-------------------- I just want to make enough money to be eccentric.
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-------------------- Always do your own due diligence. My posts are neither a buy, sell, or hold recommendation; and express only my personal opinion. Please consult your financial advisor before making any investment decisions.
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THOUGHT I WOULD POST THIS WITHOUT THE LINK FOR QUICKER READ...more good news!!!
LFWK and Sulja Brothers Building Supplies, Ltd. Announce Pre-Merger Financial Reports: Accelerated Timeline
NASHVILLE, TN--(MARKET WIRE)--Mar 13, 2006 -- LoftWerks, Inc. (Other OTC:LFWK.PK - News) today announced that its merger with Sulja Bros. Building Supplies, Ltd., the primary distribution arm of Consultech Construction Management, Inc.'s Midwest operations, has accelerated its proposed timeline. Merger completion is expected to occur before March 24th, 2006.
Sulja Bros. will serve as the centralized and primary distributor of materials for all future projects. They recently posted earnings of $26M+ for fiscal year 2005 netting $2.4M. They currently have assets totaling more than $25M. This information will be available in detail as is practical according to an LFWK spokesperson, who also relayed that the financial reports' disclosure was forthcoming prior to finalizing the merger at Consultech's request.
It is projected that once Sulja Bros. settles into its new role, revenues should reach $200M annually within a twenty-four month period.
The full report of Sulja Bros.' financials will be posted at www.suljabros.com by March 17th, 2006.
LFWK's Ammerman stated, "The merger is coming into place, and we remain dedicated to increasing shareholder value through sound business decisions." Shortly after the merger completion with Consultech's Sulja Bros., LFWK will complete its merger with Consultech Construction Management. Inc.'s Midwest office.
This contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Forward-looking statements may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain acts (such as "may," could," "should" or "might occur"). Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized
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News: LFWK and Sulja Brothers Building Supplies, Ltd. Announce Pre-Merger Financial Reports: Accelerated Timeline
NASHVILLE, TN, Mar 13, 2006 (MARKET WIRE via COMTEX) -- LoftWerks, Inc. today announced that its merger with Sulja Bros. Building Supplies, Ltd., the primary distribution arm of Consultech Construction Management, Inc.'s Midwest operations, has accelerated its proposed timeline. Merger completion is expected to occur before March 24th, 2006.
Sulja Bros. will serve as the centralized and primary distributor of materials for all future projects. They recently posted earnings of $26M+ for fiscal year 2005 netting $2.4M. They currently have assets totaling more than $25M. This information will be available in detail as is practical according to an LFWK spokesperson, who also relayed that the financial reports' disclosure was forthcoming prior to finalizing the merger at Consultech's request.
It is projected that once Sulja Bros. settles into its new role, revenues should reach $200M annually within a twenty-four month period. The full report of Sulja Bros.' financials will be posted at www.suljabros.com by March 17th, 2006.
LFWK's Ammerman stated, "The merger is coming into place, and we remain dedicated to increasing shareholder value through sound business decisions." Shortly after the merger completion with Consultech's Sulja Bros., LFWK will complete its merger with Consultech Construction Management. Inc.'s Midwest office.
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StockGate: New Naked Short Sell Poster Child Also Poster Child For Stock Promotion?
Mar 14, 2006 (financialwire.net via COMTEX) -- March 14, 2006 (FinancialWire) While the market waits for Loftwerks (OTC: LFWK) to post its share distributions today to account for what it terms an oversupply of issued stock due to a concentration of the entire known allotment of 500 million shares in the hands of insiders, there is another, shadier side to the equation. The company is also the subject of a rather massive and possibly "timely" junkfax campaign to boost its stock.
While StockGate remains a massive scandal for some of the companies that have been impacted by market manipulations, such as Overstock.com (NASDAQ: OSTK) and Biovail (NYSE: BVF), both of which have brought lawsuits and stimulated U.S. Securities and Exchange investigations, there remains substantial problems at the lower end of the stock market, involving OTCBB and Pink Sheets companies.
Sometimes, the truth is elusive and murky. Such is the case of Loftwerks, which is the subject of hype by MarketSine, a fax broadcaster that says it has been paid three million of what has been represented as a "precious commodity," shares of LoftWerks, by AQFS, for "research and distribution of its report."
Often but not always, illegal junkfaxes and spam emails are distributed by unscrupulous "pump and dump" promoters without the company's knowledge. These junkfaxes and spam emails proliferate throughout the financial community, leaving many recipients begging for anyone to help stop them.
It is usually a muddle that the U.S. Securities and Exchange Commission has been urged by the SEC Forum on Small Business to ferret out.
The Motley Fool has warned: "pumping and dumping is the illegal act where someone buys shares in a company, hypes it to pump up the share price so that (he or) she profits, and then dumps (his or) her shares quickly, before they fall in value. Since this practice is usually done with small and volatile stocks, the pump-and-dumper's selling will likely contribute to the stock's rapid downfall. This practice has flourished on the Internet, where unscrupulous folks have found it easy to pump up the stock prices of penny stocks. The SEC and others have gone after many pump-and-dumpers."
Meanwhile, the public can take some steps. One action available is to contact the company and insist that it file an 8K with the SEC stating first, if it has any knowledge as to who is behind the spam or junkfax, and second, specifically whether it has issued shares to promoters or financiers or anyone else now or in the past that could conceivably have wound up buying junkfaxes and spam emails, and their names and addresses and phone numbers so that aggrieved investors may contact them to determine who is behind a suspected pump and dump scam. Recipients may also fax or email the spam or junkfax to the company so that the company will have the full details.
The SEC Forum, meeting in San Francisco September 19, 2005, voted to send to the full SEC Commission a recommendation that it adopt "more stringent disclosure standards in Regulation 17(b), to include in addition to or instead of a company or partnership, whether in the U.S. or offshore, and the natural individual(s) behind any stock promotions, the holdings of those individuals and their nominees or agents, if any, and their specific intended sales of the promoted stock."
According to the Forum participants, stock promotions "proliferate throughout the financial community, in the form of massive spam emails, junk faxes and websites, many of which mimic professional research reports, and whose sole purpose is to stimulate volume so that undisclosed holders and their promoters may sell into the buying of unsuspecting, and often unsophisticated investors."
The SEC has also initiated a new and aggressive campaign to foil what it calls suspected pump and dump promoters by suspending trading in the equities of companies that either participate in or have been targeted by suspicious promotions.
Some observers believe such a "cooling off period" could "cool the ardor" for suspect promotions if investors have an opportunity to further evaluate junk faxes and spam emails they have received, and could prevent some more naive investors from putting their money into stocks that are the subject of large-scale promotion campaigns based on questionable substance or fundamentals.
The companies are among over 350 recently identified with aggressive stock promotions via unsolicited spam or junk faxes. It is not known if the companies approved of the promotions. A few of the group have disavowed any connection to the promotions, but most have not commented, and for many, the campaigns continue unabated. One thing consistent with most: after the campaigns end, and often before, their stock prices plummet.
In fact, in a recent portfolio kept at http://www.spamstocktracker.com by Joshua Cyr, an individual investor, the experiment showed that of 37 stocks out of 955 spams he entered in the portfolio, a $17,405 tracking "investment" in those 37 stocks between May 5, 2005 and June 27, 2005, had turned into $9,574 by October, 2005, a stunning and debilitating loss of half his investments!
Perhaps more educational for naive investors, only two out of the 37 actually gained. Only three of the remaining 35 had single-digit losses. The remaining 32 had significant double-digit losses, from 20% to 99.83% despite faxes and emails screaming that they were the next Microsoft or better when he "purchased" them.
Worse, Cyr said most had momentary, one-day gains and then "dropped like flies" the very next day.
Recently even a public company, Atlantis Business Development (OTCBB: ABDE), is claiming "credit" for many of the promotions through its partially-owned spin-off, E-Direct, as part of its revenue expectations. Both companies' CEO, according to its website, is Christopher Dubeau, who it boasts has "built a fax broadcasting system which uses FOIP and acquired a database of over eight million" of what it calls "opt in" fax numbers from InfoUSA, Dunn (sic) & Bradstreet, "and many other list management companies."
BusinessWeek, published by McGraw-Hill (NYSE: MHP), in an article March 21, 2005, said SEC Enforcement is zeroing in on micro-cap fraud with a novel strategy and new tactics.
"In the past, SEC lawyers chased swindlers one company at a time. Now the agency is targeting gatekeepers such as broker-dealers, promoters, and lawyers, who show up in scam after scam. And rather than waiting months until it can prove intent to defraud, the SEC is halting trading in companies that it suspects are about to be monkeyed with as soon as it finds what it considers clear-cut evidence of violations.
"The campaign to squelch micro-cap fraud is part of SEC Chairman William H. Donaldson's push to get ahead of abuses before they cause investors widespread harm."
This theme is echoed in an article by Deborah Solomon of the Dow Jones (NYSE: DJ) Wall Street Journal, published March 1, 2005, "the SEC's move is part of the agency's broader attempt to get ahead of possible fraud before it becomes widespread." The article is at: http://online.wsj.com/search#SB110729717180142868
The SEC has apparently developed a "profile" to determine candidates for potential trading halts. Solomon said the agency has implemented a "risk based" approach to help identify potential problems, and last year took the unusual step of halting trading in the securities of 26 "shell" companies that failed to file timely financial disclosures with the agency.
The SEC recently temporarily suspended trading in Commanche Properties (OTC: CMCH) and Courtside Products (OTC: CSDP), both of which disclaimed any company or executive association with the spam email and/or faxes that triggered the SEC suspensions.
In the case of Courtside, the SEC said it is investigating whether Courtside was misled by stock promoters who advised the firm to go public by relying on an SEC rule that allows companies to issue shares and raise money without registering with the commission, if certain conditions are met. The conditions include issuing a portion of the shares to "accredited" investors.
"Federal securities laws define an accredited investor as certain entities or individuals, such as banks, insurance companies, registered investment companies or trusts," said the Wall Street Journal.
"The SEC is looking into whether the stock promoters, who agency officials declined to identify, may have falsely portrayed themselves as accredited investors in order to gain shares of Courtside. The promoters may have then sought to sell their shares to investors and later drive up the price through spam e-mail and faxes. Investigators want to determine whether the ultimate goal was to artificially stimulate demand for the stock and then dump shares once the price increased.
The SEC recently suspended trading in as many as 39 companies in a single day, although it is not clear if those were involved in or victimized by promoters.
These included Advanced Media, Inc. (AVMJ), Air Packaging Technologies, Inc. (AIRP), American Film Technologies, Inc. (AFTC), American Plastics & Chemicals, Inc. (APLC), AmeriQuest Technologies, Inc. (AMQT), Apparel Technologies, Inc. (APTX), BPI Packaging Technologies, Inc. (BPIE), Chantal Pharmaceutical Corp. (CHTL), CML Group, Inc. (CMLK), Compositech, Ltd. (CTEK), Crown Laboratories, Inc. (CLWB), DBS Industries, Inc. (DBSS), Dental Medical Diagnostic Systems, Inc. (DMDS), Dispatch Management Services Corp. (DMSC), Eglobe, Inc. (EGLOQ), and
Also, Enamelon, Inc. (ENML), Finantra Capital, Inc. (FANT), First Scientific, Inc. (FSFI), Hayes Corp. (HAYEQ), Hybrid Networks, Inc. (HYBR), iPrint Technologies, Inc. (IPRT), Microage, Inc. (MICAQ), MigraTEC, Inc. (MIGR), Network Computing Devices, Inc. (NCDI), Pacific Systems Control Technology, Inc. (PFSY), Paracelsian, Inc. (PRLN), Pharmaprint, Inc. (PPRT), Pinnacle Micro, Inc. (PNLEQ), and
Semiconductor Laser International Corp. (SLIC), Socrates Technologies Corp. (SOCT), Star Technologies, Inc. (STRR), Sunrise Technologies International, Inc. (SNRS), Telemonde, Inc. (TLMD), thehealthchannel.com, Inc. (THCH), Transmedia Asia Pacific, Inc. (MBTA), Tristar Corp. (TSAR), VDC Communications, Inc. (VDCI), Vianet Technologies, Inc. (VNTK), and Visionamerica, Inc. (VSNA).
"At issue is the potential for so-called pump-and-dump schemes, whereby speculative investors, company insiders or others try to inflate demand for a stock by trumpeting positive-sounding information about a company -- typically via e-mail -- and then cash in their shares at the higher price. Often the information is false and the stock quickly declines again," explained the Journal.
The SEC said that each week, the SEC's internet enforcement division, headed by John Reed Stark, gets thousands of complaints from investors "about spam email plugging stocks and other investments."
"We want to head off possible damage to shareholders before it occurs," John Reed Stark, chief of the SEC's office of Internet enforcement, was quoted as saying.
Investigators want to determine whether the ultimate goal in many of these instances is to "artificially stimulate demand for the stock and then dump shares once the price increased."
The SEC hastened to add that it is not asserting that many of the companies themselves are involved in the schemes. Often they are just bystanders, but sometimes it results from stock issued to offshore and even "promotional" sites and email and fax originators to create "visibility," and the promoters often violate their promises to the companies to sit on the shares.
"Under certain circumstances, an improper stock distribution in violation of SEC regulations can be a prelude to a manipulation," Peter Bresnan, an associate director in the SEC's enforcement division, was quoted as saying.
Investrend Information's (http://www.investrendinformation.com) Investors Resource Center has teamed with JunkFax (http://www.junkfax.org), which allows those receiving unwanted stock promotions to provide the evidence directly to FinancialWire.
Many but not all have missing or incomplete disclosures under U.S. Securities and Exchange Commission Regulation 17(b):
"It shall be unlawful for any person, by the use of any means or instruments of transportation or communication in interstate commerce or by the use of the mails, to publish, give publicity to, or circulate any notice, circular, advertisement, newspaper, article, letter, investment service, or communication which, though not purporting to offer a security for sale, describes such security for a consideration received or to be received, directly or indirectly, from an issuer, underwriter, or dealer, without fully disclosing the receipt, whether past or prospective, of such consideration and the amount thereof."
"The SEC has told FinancialWire that Regulation 17(b) means full and complete compensation for research and any other services provided, including amounts and sources, must be disclosed in 'every press release' as well as other published documents, including emails or faxes. The SEC states that third party compensations must include the relationship of the payer to the issuer.
"In an email to FinancialWire, John J. Nester, a spokesperson for the U.S. Securities and Exchange Commission, confirmed that regulators interpret 17(b) to mean that specific compensation information must be contained in all such communications to the public, and that a link to a disclosure somewhere else, for example, is a violation of the regulation. He further stated that the compensation disclosure required by the SEC includes "amounts and sources" in any and all communications mentioning the company. The SEC has indicated it is serious about violators. Earlier this year, the SEC charged JM Dutton Associates with violating 17(b) disclosures and penalized the firm $25,000. It also recently similarly charged BlueFire Research for the same transgression.
FinancialWire is an independent, proprietary news service of Investrend Information, a division of Investrend Communications, Inc. It is not a press release service and receives no compensation for its news or opinions. Other divisions of Investrend, however, provide shareholder empowerment platforms such as forums, independent research and webcasting. For more information or to receive the FirstAlert daily summary of news, commentary, research reports, webcasts, events and conference calls, click on http://www.investrend.com/contact.asp
As of Friday, 03-10-2006 23:59, the latest Comtex SmarTrend(SM) Alert, an automated pattern recognition system, indicated an UPTREND on 02-09-2006 for BVF * $25.28.
As of Friday, 03-10-2006 23:59, the latest Comtex SmarTrend(SM) Alert, an automated pattern recognition system, indicated a DOWNTREND on 12-20-2005 for OSTK * $36.33.
(C) 2006 Comtex News Network, Inc. All rights reserved.
posted
averaged down on the shake * .0325.. think it will run back up rest of day..
btw - I love this site & the people - great community. been lurking a couple weeks and finally figures it's time to join in the fun! GLTA!
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quote:Originally posted by Wilder: averaged down on the shake * .0325.. think it will run back up rest of day..
btw - I love this site & the people - great community. been lurking a couple weeks and finally figures it's time to join in the fun! GLTA!
That is a good buy in price (in my opinion). I bought more at a slightly higher price. Dont get nervous with some of the fluctuation we're seeing.
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This looks like either the mms bringing it down, or all of the really small investors getting tired of waiting. There is no way there are that many $1-200 trades happening. If you are up pretty green though, I would take your profits. I don't think it will drop much more, but I didn't think it would drop this much!
-------------------- I just want to make enough money to be eccentric.
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this is going higher...
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