Bill Wexler's Dog Pound Message Board

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Non-Tech : Bill Wexler's Dog Pound

REFR 1.610

+3.6%

3:59 PM EST

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To: Bill Wexler who wrote (615)	4/7/1999 10:25:00 PM
From: BG Smith	of 10293

Re: GARD (would that be regard?) Anyway, the scam indeed is gorgeous, but the real meat of the scam is disclosed in the 'prospectus' the company has issued as part of their current effort to raise $25 million by selling revenue participation, convertible "bonds". They are issuing about 50 million new shares to the 2 top insiders at 1 cent each! There will be a minimum of 72 million shares outstanding. In fact, this is a done deal (all except raising the $25 million new cash from idiots). They admit in the prospectus (but you have to read it very carfully), that they have no technology, no assets, no partners, no revenue etc. They do forcast for discussion purposes only that they may do $20 million in revenues in FY ending 6/00, well on their way to 1 1/2 billion! At 6 now, they will probably run it again to who knows where, but this is a billion dollar fraud. I happen to have a bit of a short in this pos. I love these billion dollar bb stocks!

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