List of reasons to NOT buy this stock, to continue our debate from last week. Much of this has already been posted here, but this makes a good summary.
PS what happened to Andrew H's latest post - deleted by SI Admin for profanity ?
-----------------------
List of reasons to NOT buy CYSS stock
- Crys-Tel is a copycat of USA Talks Inc, otc USAT, a stock promotion that was shut down by the SEC a few months ago. If Crys-Tel also gets a "stop trading" order, anyone who owns CYSS shares will be unable to sell.
- recent CYSS press releases are supposedly from Carlsbad, CA and San Diego, but no address is given. The CYSS website still shows the West Vancouver address. Exactly where is this "company" located, if anywhere?
- the past address of CYSS and its parent "companies" Pacrim and Metals Research is a house in West Vancouver, Canada.
- the West Vancouver house is also the address of a shady MLM pyramid scheme to sell gold mine shares to Italians, run by Pacrim, Metals Research, and A&A - large shareholders of Crys-Tel. There is an English translation of the Italian MLM web pages at Message 10648545 in 2 posts, they even claim some of the gold is right on the surface, like in the BRE-X scam.
- the senior officers of the Crys-Tel parent companies, Pacrim and Metals Research (both previously located at the West Vancouver house), and A&A International, have a "checkered" background. They have had previous legal wrangles with their stock and business deals, including two securities fraud trials, and police investigations.
- the identity of a major owner of CYSS shares is "Kaiden, SA". Who is Kaiden, SA? Is it actually Martin Kaiden, a.k.a. "The Kaiden Company", the barred ex-broker who tried to sell fake securities to the John Hancock insurance company?
- all CYSS announcements are from Business Wire, which does not verify the information. Business Wire is a "pay" service that charges $525 to do a "national distribution" press release.
- the analyst's report on CYSS indicates the market capitalization was $110 million as of a few months ago, totally excessive for a company with no confirmed revenues or operations. The report also revealed a lawsuit against two "stock promoters" that had been working for Crys-Tel.
- the original CEO and CFO came from a previous "stock promotion" company, Net 1 - otc NUEP.
- a promoter (paid by CYSS) claimed in this thread's header that CYSS would be in full operation and have millions in revenues by March 1/99, but apparently nothing has happened.
- some of the other people posting on this SI thread may be professional stock promoters.
- almost all the original CYSS officers (Canadian residents) resigned and were replaced by U.S. residents, on June 4/99. Why did this happen? Only secretary/director Anthony Papalia remained, indicating he is really the person in control, not the CEO or President.
- William Robertson, the original Crys-Tel VP marketing, recently surfaced as the president of Litewave Corp (OTC LTWV), a company that appears to be a clone of Crys-Tel. What's going on here?
- the company website www.crys-tel.com contains little information and has not been updated for about 6 months, except to remove the names of the officers and directors. They can't even build a good website, while they claim to be "a facilities-based international carrier utilizing the Internet to provide economical international telecommunications services".
- the March 30 announcement of $1,000,000+ of Nokia equipment was NOT confirmed by Nokia. Was this a false announcement?
-------------------------
Warm regards, I await your rebuttal,
ILikeGorillas |
