FROM BUS WIRE!
NEWTON, N.J.--(BUSINESS WIRE)--Sept. 3, 1999--
TheTruthseeker.com Initiates Coverage On Play-By-Play Toys
& Novelties, Sell and Short Recommendation at 7 1/2.!
Today On Sept 3, 1999 The Truthseeker.com initiated an immediate
Sell and Short Recommendation at 7 1/2. on Play By Play Toys and
Novelties (NASDAQ:PBYP) and issued the following to its members.
On Sept 2, 1999 announced it was awarded rights to design, make
and distribute toys and other items featuring Pokemon, Nintendo CO's
popular video game.
The Truthseeker.com believes Pokemon toys are a Fad One Time
Product that will go the way of the Cabbage Patch Doll, Pet Rocks,
Ninja Turtles and Bell Bottom Jeans. The Pokemon craze may wear off
long before the Holidays where the only place to find such items is inlocal Flea Markets.
Play By play announced a Pokemon license agreement, that will
offer no revenues for up to on year according to Analyst Jeff Dabbs,
of Kerchville & Co., in an interview with Bloomberg.
Additional Facts to consider PBYP has defaulted on it's
$31,000,000 in Senior 8% subordinated Debt. Any attempt or success at
restructuring this debt would result in massive dilution and crush
current shareholder value. We are advising the public and our members
to sell their shares immediately
The President, Francisco Moya of the European SA division
resigned on August 25, 1999 according to an 8-k Filed with the SEC on
Aug 30, 1999 just 4 days ago.
This Company will be forced to Dilute current Shareholders by up
to 85% in order to remain in business. It is our Firm Belief that Play
By Play Toys is in jeopardy of being forced into Bankruptcy.
In addition we believe that Insiders have used this immaterial
news announcement to sell their own stock.
TheTruthseeker.com is an Interactive Online Magazine and E-mail
service site. TheTruthseeker.com issues Truthseeker Reports on a
weekly basis. Some of the past reports by The Truthseeker include
USATalks.com (USAT) Citron (CTRN), NET COMMAND TECH INC (NCDR) and
2TheMart.com (TMRT). The Truthseeker Reports are sent to our contacts
at the SEC after being released to our members. The newest report is only available to site members. Only archived reports are available to
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For additional info, please visit us at:
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--30--tia/ny*
CONTACT: TheTruthseeker.com, Newton |
