HITSGALORE.COM (HITT) Message Board

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Microcap & Penny Stocks : HITSGALORE.COM (HITT)

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To: bob sims who wrote (1941)	6/11/1999 11:35:00 PM
From: Q.	Read Replies (2) of 7056

Bob, re. <<What illegal activity is HITTs engaged in?>> Well, as I mentioned before, in my opinion it appears that HITT's method of carrying out business contains the same crucial elements of IBB's business model that led the FTC to determine that IBB was running a frachising operation without obeying the FTC's "Franchise Rule". IBB solicited people to buy a business (like the one that HITT calls a 'sponsorship') while offering to provide significant assistance to the buyers (in the case of HITT, this assistance is in the form of finding customers and chanelling their signup fees to the buyer). When IBB did this, the FTC said it was franchising. IBB did not provide prospective franchisees with a required disclosure statement. This put IBB into hotwater with the FTC, leading to Dorian Reed's loss in the court case. As far as I can tell, HITT does not provide the required disclosure either. If you go to their web site, you will find that you are solicited to fork over your credit card number to pay for a sponsorship, without being offered the disclosure required of franchisers.

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