WRDP Worldport - - - opens the port to the world. Message Board

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Technology Stocks : WRDP Worldport - - - opens the port to the world.

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To: John Ritter who wrote (39)	6/28/1999 7:55:00 PM
From: Teddy	of 82

Hey, this scam stock took almost a week longer to fall than i guessed. I think that time lag is more the result of a lack of enforcement by the SEC than a reflection of my notice from publicly available documents that this company has serious financial difficulties that can not be resolved without the current common shareholders losing 100% of their investment. It is sad that there are people that are investing money in stocks that have so little understanding of financial statements that they could not see that this company was in grave danger. I hope they learn from their mistakes. For the record (since WRDP will most likely be delisted) the stock was over $11 when i issued my warning and is less than $4 today. BTW: Kaufman's Vik Grover should be so ashamed of himself that he quits. There is not excuse for a reasonable person to to think that this company had ever a 1% chance of ever repaying that debt. Anyway, here is the related news snip: biz.yahoo.com Monday June 28, 3:16 pm Eastern Time... NEW YORK, June 28 (Reuters) - The stock of WorldPort Communications Inc (Nasdaq:WRDP - news) lost more than half its value Monday on news the shares had been downgraded by Kaufman Bros. LP and Nasdaq was looking into delisting the company's shares.... In a statement released prior to the opening, WorldPort said a Nasdaq hearing Thursday discussed the company's violations of Nasdaq marketplace rules and addressed a ''going concern'' qualification by auditors of its 1998 financial statements. Downgrading the stock to hold from buy, Kaufman's Vik Grover wrote the company has been unsuccessful in raising capital to fund its business plan, adding the company has given analysts limited insight as to its ability to refinance its capital structure. According to WorldPort's most recent 10-Q, Grover continued, if the company is unable to repay its obligations by the extended due date, it will ''be obligated to support and use their respective best efforts to achieve ... the sale of all or any part of the company or any subsidiary or any of their assets which is proposed by the interim loan holders.'' Hummm, didn't i say that a few weeks ago: Message 9761137

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