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Gold/Mining/Energy : Starpoint Gold

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To: Bohdan who wrote (1241)	4/18/1997 1:01:00 AM
From: Peter J Smit	of 2378

Bohdan This STS fiasco has really brought me back to earth with a bump. Naturally, I am extremely disappointed that my investment has taken a serious knock, but also I am trying to figure out how I can learn from this experience and how I missed any warning signs that may have been there. Potential warning signs or not? Please feel free to comment. 1. VSE starts getting involved in a stock. It seems, more often than not, to be a big red flag. Recent examples of this is CKS and VEC. 2. Many small PPs to basically anyone who opened their checkbook. I am not sure what to make of this. I think the perception I get is that the financing brokers either did not know of this stock or did not want to touch it. 3. Larger brokerage houses shorting the stock. It seems to be easy to knock back a stock with a smallish float by shorting and ultimately destroying the company. VSE critisism...my 2 cents worth... It seems that Select Capital had no idea the they were disqualified from doing financings for VSE listed companies. If there is a list of companies disqualified from financing VSE listed companies, no one knows about it (not STS either) and it seems that it is not public knowledge. Yet the VSE responded within a day of STS filing the PP that Select Capital was disqualified from doing financings, so they must have made the decision to disqualify Select Capital earlier. So neither the VSE listed company nor the financing company have been informed by the VSE that the financing company has been disqualified from doing business with VSE companies. The VSE calls this "protecting investors" ???... I must be missing someting! Trying to look on the bright side, STS now only has a downside of 27cents. Regards Peter

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