Bill,
On SI, Steve's post were obee k-bee, it wasn't until he made up a fake name and went on RB that he went "bad."
ragingbull.com
Posted as invest2020, his profile says Steve Wallace, Hong Kong.
I've been holding this for 6 months, sold half at 8+, been kicking myself ever since. Sat up most of Friday night (I'm in Asia) to catch the day's trading, hoping for a significant dip, but it didn't happen. That to me is very impressive: you would normally expect significant selling after a runup like that. This means that even people who bought in at the low end are holding tight.
This was Mar 21. If you take the 6 months literally then he was in before Sept. 21, even though the company didn't announce the acquisition until late October. Smacks of insider trading, but probably not. A check of the Yahoo DYNX thread(another turd company pumped by the same overseas boiler rooms) shows people being solicited to buy ZSUN weeks before the acquisition announcement, as it was going to be good now that it was an internet company.
The timing on their publicity push is excellent, IMO. The Microsoft/HK Telecom deal has alerted a lot of people to the potential of the Internet in Asia, and companies with Asian exposure have moved onto the radar since then. Expect some action in the coming weeks.
Tout, tout, tout, tout, tout, tout.
ragingbull.com
I live and work in HK;
Gee, I thought it was the Philippines.
friends of mine are personally acquainted with Tony Tobin (I've met him, but we are not close). I've long believed that the 'net in Asia is where it was in the US 3 years ago, which gives a huge opportunity to those of us who weren't prescient enough to get in on the US boom. When I heard what Tony was up to I snapped up a few shares - told myself not to go in too big, as at that time it had to be considered speculative. I wish I'd been a little less restrained.
Yeah personally acquainted because they work for him. "when I heard what Tony was up to." Like reverse mergering a bunch of schlocked together, marginally profitable(without very strange one time stock gains) Asian businesses and calling it an Asian internet play.
FWIW Mr. Tobins reputation here is that he's a very practical guy with a habit of making ideas into realities, and that he chooses and handles people very well. Good combination, in my book, and that's coming from people I respect. Which is why I bought in the first place - if you don't know the horse, it's a good idea to look at the jockey.
Tout, tout, tout, tout. Now, I guess it's possible that being in the Philippines operation, he knew nothing about it, but you'd think he might have heard through the company grapevine that the Hong Kong operation was involved in running pornographic(or for Francoise's delicate ears, let's say "adult") web sites. They were registered at the same address and phone number as Momentum, by the same people, and Tobin's name itself can be linked directly to Internet Promotions, one of the companies on the losing end of a multimillion dollar lawsuit to Playboy.(the fact that they would dispute this in the lawsuit against us, is ludicrous) Of course Steve fails to mention that in his tout post.
You know, one wonders where they got the content for the adult websites, maybe they already had contacts in that industry through their printing business. You'll note that they are now hyping this big Auction Asia, heavy equipment auction, and they used to print catalogs for the Ritchie Bros., I sure hope the Ritchie's didn't trust them to do their Asian mailings, thereby giving Moentum access to customers.(but who's going to buy a bulldozer, sight unseen over the net)
Read Steve/invest2020's entire history on RB.(at least under this name, he was also subicsteve, or stevesubic, and who knows how many more)
ragingbull.com
It's also important that you read ex ZSUN CEO Tobin's explanation of things and see if it all jives to you. Sorry I don't have the URL, I think FLoyd posted it.
Have a good weekend everyone.
Mr. Burns
(evil 8, not ZSUN 8) |
