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Technology Stocks : Zitel-ZITL What's Happening
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To: taxikid who wrote (7462)5/29/1997 9:17:00 PM
From: CalculatedRisk   of 18263
 
TaxiKid, the entire is scam is very complicated. I was referring to the "private placement" scam as being fairly simple. Of course, you are correct that the Cayman Island investors need to have an additional $25 million available, in cash or from marginable securities, in a brokerage account. Not very much (for them) considering there is no risk and you can convert and cover in 90 days.

When the history is written, it will be interesting to find out, to what extent and when, Emerald, Stewart, King and Epsing knew what was happening.

Best Regards, Bill -investing since `72, first short Hecla Mining in `79 during silver scam, thanks for asking - brings back pleasant memories :-)
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