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Microcap & Penny Stocks : Amplidyne, AMPD

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To: Art M who wrote (285)	9/13/1999 12:13:00 PM
From: Jon K.	Read Replies (2) of 538

This is baaaaaaad, bad stuff, quote.bloomberg.com ---snip--- William Suter, an electrical engineer, was in charge of designing and developing Amplidyne's products when it raised $6.78 million in its 1997 initial public offering. He quit 10 months later. ``They got quite a bit of money in the IPO and just frittered it away,' said Suter in an interview. Suter said Amplidyne's prospectus falsely claimed the company's computers were connected on a network. Bains didn't challenge that. ``I think we intended to' connect them, he said. ``If it got put in the prospectus and we didn't do it, I apologize.'

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