"...what is their agenda?"
I've written quite a bit in answer to that question already, so won't repeat it now. I will simply point out the big lie du jour, which is the idea that in the private placement two investors got some kind of sweetheart deal on a bit over 50,000,000 shares.
1. Within two weeks of the Form D, the price of the stock was in the .010 range. You can easily verify this for yourself. Go here: tradepbs.com You will have to search for PRWT through March 8, 1999 and PABN from March 9, 1999 onward. On April 5, 6, 8, and 9 the low price for each day was $0.010 the same price as the private placement. On April 7th it was $0.011. On April 6, 7 and 9 the closing price was $0.011, one tenth of one cent above the price per share of the private placement.
2. The big lie du jour is that those two investors got a share price that was some kind of sweetheart deal. It was not. Anyone could have bought shares for that price in the same time period, if they were willing to take the same gamble. The only difference was that the PPM shares were bought from the company, are unregistered and therefore:
3. The PPM shares are restricted from resale for a period of one year minimum. Thus the "sweetheart" deal is not quite so sweet, since the two investors have to wait a year to see any kind of return on their investment, while the investors who bought at or near the same price have liquidity the PPM investors do not enjoy.
In answer to your question, it seems clear to me that part of the answer is that they enjoy telling lies, the bigger the better, just so they can see if any unsophisticated investors will react so they can have a good "hahahaha" at them.
As I've already noted, they are unrepentant, even in the face of multiple disciplinary actions taken against them for their blatant disregard for the Terms of Use. That's why, as far as I am concerned, they have forfeited their privilege to participate in the discussion.
thanks for listening!
PCM
GO PABN!!! |
