EITEN GETS STOCKLEMON COVERAGE & PROFILE
stocklemon.com
December 12, 2006
Stocklemon Reports on Skins Inc. (OTCBB:SKNN)
Has Footwear Become The Next Bio-Tech?
Mailboxes throughout the country have been bombarded with mailers for investors to buy shares in a one day footwear company called Skins Inc (OTC:SKNN). There is only one problem: with a market cap of over $100 million, Skins Inc does not even have a shoe for sale on the shelves. Who would give such off the wall investment advise?
None other than Geoffrey Eiten.
marketmavens.com
Mr. Eiten was charged two months ago by the Secretary of State of Massachusetts for widespread pump and dumps.
sec.state.ma.us
Mr. Eiten has been attached to some of the most notorious pump and dumps over the past 5 years.
This is where it gets unbelievable.
As of last financial filing, Skins reported that it only had $699,000 in the bank…not enough to produce a $100 million shoe line. Yet, someone paid Mr. Eiten $1,650,000. The money was paid by a group called “Aranwest Limited”. There is no information on Aranwest and the company stated they have no idea who might have made the payment.
otcfn.com
Skins has been quite busy at putting out a steady stream of press releases, yet they all don’t seem to really make sense. On November 2, the company put out a press release that shoes were going to hit the stores in January of 2007.
bigcharts.marketwatch.com{3AC357A8-F7E1-4F13-B4CB-696F8B735ACB}&newsid=883989733&symb=SKNN&sid=2282715
Yet, a month later they finally signed a deal for someone to produce the shoe
bigcharts.marketwatch.com{AF1A0BAE-710B-4482-B108-1EC23B82B4CC}&newsid=885494018&symb=SKNN&sid=2282715
Stocklemon spoke to Investor Relations and we were startled at the price points on these “future shoes”. The “bone” will cost $100 and each skin will cost $150 for a total cost of $250 for a pair of shoes. Let it be noted that in order to create a luxury item, branding is a capital intensive undertaking…and we do not mean branding with Geoffery Eiten.
Stocklemon does not know whether Skins is really going to get real product into real stores or not. If so, we wish them the best of luck selling these shoes and hope that one day their stock can be judged on a true footwear valuation. But until then it is just a dream and a website promoted by a notorious stock promoter. So remember, before you go looking for the next Heelys or Crox, make sure the company has at least $1 in revenue. If not, the market might leave you barefoot.
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