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---$1 target from Truthseeker - Strong Sell---
TheTruthseeker.com Announces Investment Opinion on DIVERSINET CORP, With an Immediate Sell Recommendation
NEWTON, N. J. DEC, 8 1999 - TheTruthseeker.com Announces SELL RECOMMENDATION on DIVERSINET CORP, (NASDAQ:DVNT), and places an intermediate-term price target of 1 dollar, with highly volatile strong downward price pressure in the immediate/near term timeframe. Long-term investors need to be aware of the risks before they become "STUCKHOLDERS" sinking within the trap. We are adding DVNT into the Truthseeker "Unfortunate 100 Index"
In Light of the Recent News Announcements, Made by the Company, we Felt it Was Necessary to Dig and Try to Find the Truth Under the PR.
TheTruthSeeker.com maintains our HIGHEST WARNING to Investors, and maintains
our STRONGEST SELL RECOMMENDATION on DIVERSINET CORP, (NASDAQ:DVNT) This is TheTruthSeeker strongest warning to date since our recent report on Ariel Corporation (11/26) which went from $37 to $9 7/16 (12/7)
From the boys that bought you GAMING LOTTERY we now present a warning to our readers about their next company DIVERSINET CORP.
Remember Gaming Lottery? If you own the high flying stock of Diversinet (NASDQ:DVNT), you probably don't remember and that's exactly what some of the people behind the stock of DVNT are counting on! Gaming Lottery went from high flier and then fell into the abyss in a matter of days. Many of the same individuals behind the stock are all involved (to on extent or another) in Diversinet, a company who claims to have a proprietary solution for secure transmission of communications of wireless devices such as cell phones, PDA's pagers, ect. Who was the principal promoter of Gaming Lottery? A gentlemen by the name of Bobby Genovese. Mr. Genovese has also been behind the stock promotes of Warp 10 Technologies, Gaming Lottery, Instant Publisher, Laser Friendly Inc. and several other highly super stock catastrophes. Who was the principal executive in Gaming Lottery? A gentleman named JACK BANKS (a/k/aJACQUE BANQUES, JACQUES BANQUESUS, JACQUES BESQUESIS), Mr. Banks was the incorporator of the shell for Instant Publisher. ( another Canadian stock catastrophe) which evolved into DIVERSINET CORP. Got your attention? It gets better.
Gaming Lottery had contracted with CIT Canada to develop the software for them. CIT Canada sued Gaming Lottery for non payment. Gaming Lottery counter sued CIT Canada because they said the software did not work and for breach of contract. Now this all sounds normal enough except the President of CIT Canada was Nagy Moustafa. The same Nagy Moustafa which is now president and CEO of Diversinet.
In a recent TheStreet.com article when asked about who is Bobby Genovese? "Who is Bobby Genovese?". Moustafa first replied. "Bobby Genovese is a former investor relations person who is no longer affiliated with the company," Moustafa said tersely, his memory suddenly on the mend. The truthseeker.com would like to joggle Mr. Moustafa's memory a little further by giving him the link to this promoters web site bgcapitalgroup.com and ask him to click on the clients button. Maybe Bobby Genovese is working for free?
But does DiversiNet's products work? We think the answer is yes, but the important question behind stock promotion like this. Could ZZZ Best clean carpets? Could Future Communications run commercials? Could Crazy Eddie Antar sell TV's at insane prices? The answer is yes in every case. ( all of these stocks are delisted BTW), but the real issue is whether there is a real economic and sustainable business here. The truthseeker.com believes the answer is NO. But don't rely on us, ask the critical decision makers in the telephone business who they'll end up utilizing. Ask Verisign inc., ask Entrust Technologies or ask DVNT who purchased the crux of their security infrastructure for 2.5 million in cash and 7.5 million in paper from Moti Barkan... an Israel inventor, who by the way is suing DVNT.
Buyer Beware!!
Stay tuned for our follow up.
Please visit our site at thetruthseeker.com for full details.
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