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Microcap & Penny Stocks : GIFS
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To: Paul A who wrote (4251)4/17/1997 7:41:00 PM
From: Gary Walter   of 8012
 
Self-transfer is the biggest bunch of baloney I've heard in a long time. The two important functions of the Transfer Agent is to keep track of the number of shares outstanding and to make sure that no restricted shares are sold to the public. Those familiar with the SEXI scandal found out too late that the whole mess could have been exposed earlier if a call was made to the transfer agent. The SEXI transfer agent had many more shares outstanding than was published. If GIFS wants to take over this function then the investor has lost an important safeguard. If GIFS wants to be on the up and up then they should have replaced their transfer agent with another transfer agent. Because they didn't, this stock is starting to look way too SEXI for me.

I bailed out today and will watch from afar. If GIFS gets their act together I will come back and join your rocket ship. Right now I hope the leadership of GIFS is not associated with the Heavens Gate rocket ship.

Best of Luck, Gary
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