Bill Wexler's Dog Pound Message Board

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Non-Tech : Bill Wexler's Dog Pound

REFR 1.600

-0.6%

10:48 AM EST

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To: Kevin Podsiadlik who wrote (9105)	2/17/2003 2:05:28 PM
From: Bill Wexler	Read Replies (1) of 10293

I actually have no problem with companies going IPO while they are still in development stage. In fact - and much to the surprise of people like Dixon and Mike M(oron) - I don't have any trouble with companies obtaining public capital to fund the development of technologies of questionable value (such as REFR's SPD), "Homeopathic" drugs - otherwise known as placebos (such as MTXX's Zicam), etc. I think that anyone should have the right to toss their money down the toilet as they see fit. The problem I have is that these companies don't engage in full disclosure. They wrap their pseudoscience in a barrage of misleading press releases designed to sucker small investors into believing their products have real economic value. If you are in the business of developing perpetual-motion machines and you want to raise money through stock sale, then I will short your stock and I will call your technology fraudulent - no matter how many press releases you issue touting "licensees" and "imminent commercialization"...so unless you can somehow change the laws of physics, then you're going to have to face the fact that there are people out there who can't be fooled.

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