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Microcap & Penny Stocks : TPII - Year 2000 (Y2K); Groupware; Client Server Migration
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To: Robert Gomez who wrote (10743)6/26/1999 10:49:00 PM
From: Alan Coccio  Read Replies (3) of 10903
 
Robert, with all due respect to your idea, calling in your stock certificates for delivery is an exercise in futility. That plan works when the short sales are done with borrowed stock. These guys don't borrow stock to short Bulletin Board stocks. They don't because they can't and because they don't need to. In effect, the shorted stock is "phantom" stock that has diluted the stock pool.

Yes, the NASD can slap the wrist of any offending market makers working in conjunction with the perpetrators of this illegal activity but it will do nothing to enhance the value of the stock held by legitimate holders like yourself.

TPII stock holders are stuck. They are the victims of the fraud that takes place in hundreds, if not thousands, of Bulletin Board stocks. That's why investing - rather than making short term plays - in this segment of the market is both unwise and unhealthy to your portfolio. Sure, there are legitimate companies on the Bulletin Board but the entire segment is wide open to illegalities of this type. Until the SEC, along with the NASD, invokes penalties commensurate with the seriousness of the offenses, this will continue. I have every expectation that it will continue unabated.

Alan
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