re. NESS, this one popped into my radar this week. I watch the OTC-BB's list of most active stocks, which is a marvelous way of finding bad stocks that are getting run up to a frothy peak. NESS appeared there recently.
More interesting to me were VECT and TLTG.
VECT is a bad oil company in Texas, which is basically broke. The one good thing you can say about them is that they are fully reporting. The gas and oil wells just break even, and the co. sells stock so that it can pay its administrative costs. Pretty bad, you might think. But wait. Selling stock is better than selling bad postage stamps, isn't it.
Anyway, VECT just had the brilliant idea of buying an ISP. This caused the stock to go up tremendously in about two days, peaking yesterday.
I find a lot of humor in the idea that a tiny, virtually bankrupt oil and gas co that sells stock to pay its executives' salaries thinks that it can, and should buy an ISP. If they can buy a real ISP, then I can buy all of Exxon. Why a badly managed oil company would choose to diversify and become an ISP of all things is another big joke.
TLTG is a company that has almost no operations at all. It aspires to be an affiliate of OzEmail, the Australian internet company, it says. The stock has soared for no good reason.
I haven't looked for threads for VECT and TLTG. I guess I found amusement enough by reading their filings.
I looked at the news releases for NESS after you mentioned it, Janice. Some interesting names, there, for the company and the guy who runs it. I wonder how many people want to trust their money to a BB stock run by a CEO who goes by the name "Hayseed". |
