PROOF OF AMPD FRAUD
Last Thursday 9/9/99, AMPD issued a fraudulent press release indicating they were introducing a new wireless internet technology. This press release was fraudulent, intentionally misleading and an attempt to manipulate the price of AMPD stock higher... Here is the press release and a quote from the AMPD CEO:
********************************
AMPLIDYNE INTRODUCES HIGH SPEED WIRELESS INTERNET ACCESS, 35 TIMES FASTER THAN 56K DIAL UP SERVICE BUSINESS/TECHNOLOGY EDITORS RARATIN, N.J.--(BUSINESS WIRE)--SEPT. 9, 1999--AMPLIDYNE, INC.
"The introduction of these new products from our newly created division, in a relatively short span, is an excellent achievement for Amplidyne. The world wide demand for wireless internet multimedia and high speed data requirements is a natural area for Amplidyne to pursue with its advanced patented technology."
dljdirect.com
***********************************************
This technology is not new, nor is it AMPD's technology. AMPD is simply reselling www.ydi.com's equipment - we talked to them and know this for a fact.
But it gets worse... The technology is not even new. It was originally introduced in 97 by PROX, but the exact equipment AMPD is reselling from YDI, was introduced by YDI in October of '98. See the Press release "YDI Introduces High Speed Wireless Internet Access" at the bottom of the press releases here...
ydi.com
Note the EXACT same wording in the AMPD press release claiming that they are in introducing a new technology, and YDI's Press release back in Oct of 98
ragingbull.com
To make this case even better from a fraud perspective, when the stock went from 3-16 3/4 due to CNBC DJ, Reuters CBS MarketWatch and essentially everyone else in the press picking up on the story and reporting:
"AMPD introduces new wireless internet access technology 2MPS - 35X faster than 56k.."
NO ONE FROM AMPD REFUTED THE STORY OR CORRECTED THE VARIOUS INCORRECT PRESS AGENCIES.
The reality is, the technology is over 2 years old and costs $850-2500 to install on the subscriber end, PLUS $595-1000/month... It has failed miserably in the market ever since it was introduced because Cable internet access is available at $39.95/mo no startup fee, DSL is priced similarly and satellite is about 2X as expensive as these but available in rural areas...
See YDI's pricing for Wireless Internet Access using this equipment here...
ydi.com
We expect AMPD to get sued for issuing fraudulent press releases... STAY TUNED... |
