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Biotech / Medical : Chromatics Color Sciences International. Inc; CCSI
CCSI 29.77+3.7%Nov 5 3:59 PM EST
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To: JanyBlueEyes who wrote (5413)6/22/1999 1:26:00 AM
From: Bill Wexler  Read Replies (1) of 5736
 
The CCSI stock fraud - dilution

Chromatics only source of income has been the sale of stock. Usually these sales have been through "back door" placements and convertibles at grossly discounted prices to market. The last series of convertibles add approximately 2,000,000 more shares outstanding. CCSI has never had a a legitimate stock offering since inception. The company has dealt with various shady brokers and promoters including the notorious Janssen-Meyers - who conspired along with Mike Shonberg at Dreyfus, to artificially drive up the price of the stock, at the expense of many small investors who wound up losing millions. These facts are well-documented and indisputable.

The company now has approximately 21,000,0000 fully diluted shares. It is important to realize that the difference in shares outstanding as reported on stock quote pages such as Yahoo and the true number of shares outstanding (includes options, converts, etc.) is very important, since insiders have been exercising options and warrants at a furious pace and dumping stock.

The company's true market cap of roughly $200,000,000 is unsustainable over the long term. Unfortunately, a new round of small investors will be victimized yet again as they see their investment dwindle.
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