TheTruthseeker.com reiterates/updates their Investment Opinion on DIVERSINET (DVNT), With an Immediate Sell Recommendation
NEWTON, N. J. DEC, 10 1999 - TheTruthseeker.com Reiterates Investment Opinion on Diversinet Corp.(NASDAQ:DVNT), With an Immediate Sell Recommendation, and lowers intermediate-term price target of 1 dollar to 10 cents, with highly volatile strong downward price pressure in the immediate/near term timeframe. Long-term investors need to be aware of the risks before they become "STUCKHOLDERS" sinking within the trap. DVNT rises to the top of the Truthseeker "Unfortunate 100 Index"
Knock Knock, who's there?
Knockagh Knockagh
Knockagh Knockagh who?
Knockagh Knockagh thats the question? Who is Knockagh International LTD?
In a prospectus dated June 1st 1999 Diversinet discloses litigation by Knockagh International LTD. In their explanation the litigation relates to a 1996 transaction pursuant to which the plaintiff "SOLD CERTAIN TECHNOLOGY" to Diversinet. Certain Technology??? It's the very technology which is the crux of this “promote”. Once again what they fail to disclose is that Knockagh International LTD appears to be a proxy for Moti Barkan the inventor of DVNT's wireless secure technology. This litigation would make great fodder for a new John Grisham (The Firm) novel.
To interested investors interested in full disclosure here is a link to a copy of the actual lawsuit. fortunecity.com
It can also be obtained from the Superior Court of Justice court file number 99-CU-169775CM
Deviant: Synonyms: IRREGULAR 1, abnormal, anomalous, divergent, off-key, unnatural, unregular
Around some trading rooms on Wall Street, shares of Diversinet (DVNT) go by the nickname "Deviant" It seems there are a lot of things about Diversinet that could be considered deviant, irregular, abnormal, anomalous, divergent, off-key, unnatural, and even unregular beyond the ticker symbol!
In an article in TheStreet.Com, it was revealed that during a presentation to institutional investors, DVNT CEO Moustafa claimed at first he did not of an individual named Bobby Genovese. Moustafa then said that Genovese USED to promote their stock, but has not been involved in the company for quite some time.
Evidence might show that he may have not been entirely truthful?
Evidence would show that he was. Bobby Genovese may still be promoting this chameleon of a company.
The Truthseeker.Com studied the most recent press release issued by DVNT.
At the end of the press release, the contact is listed as "The Investor Relations Group"
According to an interview with Bobby Genovese, that was published in The Palm Beach Post on Nov 29, 1997, Bobby FOUNDED the Investor Relations Group, DVNT's current promoter.
Even more curious is that the domain names registered to The Investor Relations Group include this gem:
Registrant: The Investor Relations Group (RICHARDGENOVESE-DOM)
1286 Homer Street, 4th Floor
Vancouver, BC V6B 2Y5
Domain Name: richardgenovese.com
Now look at the record for their web site, invrel.com:
Registrant:
The Investor Relations Group (INVREL-DOM)
4th Floor, 1286 Homer Street
Vancouver, BC V6B 2Y5
Domain Name: invrel.com
Notice any similarities?
TheTruthseeker.com decided to call the office in N.Y. and the receptionist answered "HRH", I asked if this was Investor Relations group? She said : "Ah…oh Yesss". I then asked if Bobby Genovese was around and the nice lady said, "He is not here now he is in our Vancouver office."
SOMEONE CALL SECURITY PLEASE!!
Astute investors already know that DVNT used to be called "The Instant Publisher" (TIPIF), and some will know that DVNT, WARP 10, Le Print (LPEX) and Gaming Lottery are all part of a ring of companies masterminded by Jack Banks. (For more on this read the excellent articles in The Financial Post from July 20, 1996)
So, is Jack Banks still behind the scenes? In the same meeting that Moustafa claimed not to know Bobby Genovese. Can we believe Nagy Moustafa?
Now for today's Humor. Shhhhh. I'll let you in on a little secret.
The MarketGuru issued the following press release. DVNT was in the top 10 companies
The Market Guru.com Announces Completion of the Guru's Top Ten and Bottom Ten
"NEW YORK--(BUSINESS WIRE)--Dec. 9, 1999--TheMarketGuru.com, a leading provider of independent market research, announced today the completion of the Guru's Top Ten and Bottom Ten lists.
The company also announced that the long awaited launch of the Guru's Hall of Shame would commence on Monday, December 13th. The Guru's Hall of Shame will be a biweekly feature highlighting Wall Street analysts or advisors who, according to the Guru, recommend stocks in which they have an obvious conflict of interest."
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Further investigation of the InterNIC registration shows
West End Capital (THEMARKETGURU-DOM) 1 World Trade Center Suite 4563 New York, NY 10048 US Domain Name: THEMARKETGURU.COM
Administrative Contact: Nordlicht, Mark (MN4753) estendcap@AOL.COM
2127759299 (FAX) 2127759311
This is the same Mark Nordlicht and same address for WEC INVESTORS V, LLC. WEC Investors V is an entity controlled by Daniel J. Sacs, Mark A. Nordlicht and Ethan Benovitz, who are also the managing directors from WEC Asset Management LLC. In four SEC 144 filings from 10/19/99 to 11/09/99 had filed to sell 332,100 shares of DVNT. Assuming no double counting, this represents 1.33mm shares. The mailing address is also that of Northern Lights Trading, a entity owned by Mark Nordlicht.
They should put themselves in their own "The Guru's Hall of Shame" according to the Guru, "Recommend stocks in which they have an obvious conflict of interest." Truly shameless hucksters!!
Buyer Beware!!
Stay tuned Truthseeker fans, it gets even better than this.
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