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Gold/Mining/Energy : PRTI
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To: Bread Upon The Water who wrote (415)2/3/2000 11:08:00 AM
From: Kailash  Read Replies (1) of 424
 
William Hickman -

There are several factors that make this look like a scam.

In the most recent press release, the company speaks of the software as if it belongs to PRTI. But PRTI has only the rights to purchase HHPN, the two-person company that produced the software. PRTI is not current with its SEC filings, so it is not clear it even has the money to buy HHPN. If HHPN's product really is five times as fast to use as the competitions, with comparable functionality, then why didn't they do a massive IPO instead of letting themselves be bought out by a shell company with a history of scams?

This might make sense if HHPN just wanted to do a "back-door IPO" by taking over PRTI, which is a shell. But the press releases say PRTI doesn't intend to run the business; they just want to be bought out. Smells like a scam to me.

PRTI says right out that the current activities have a single aim: to increase the price of the stock. This is supposed to happen in two ways: the software company purchase and a subsequent buyout. Their marketing is entirely geared to investors. The hype has been sent out and done its job; we've jumped a couple of points on the newsletters and that might be as high as we go. We'll see.

Since they don't intend to run the company, the reason they want a higher price is admittedly to sell the stock. When will they sell? You can bet they won't tell you first.

If the claims the company are making were even close to the truth, PRTI would not be marketing itself as a speculative penny stock. The chances of the claims being true seem awfully close to zero. IMHO.

Kailash

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