**OUR RESPONSE TO MANNY & ECNC re: WHO IS PLUVIA**
In an attempt to deflect our accusations of fraud against ECNC, Manny and eConnect have attacked the credibility of Pluvia rather than explain why eConnect has issued a slew of misleading and fraudulent press releases concerning every aspect of their business.
This is a tired, old tactic and we believe shows the desperation of eConnect to avoid the real problem they now face with the United States Securities Exchange Commission along with various other state and federal regulatory authorities.
Regardless, we will respond to the accusations Manny's made here Message 13166553 to resolve this issue once and for all.
1. Manny suggests eConnect cannot find any information regarding Pluvia or Pluvia Securities Research, including corporate information, securities licensing information or office location.
To this accusation we have the following response:
Pluvia & the Pluvia research organization have been doing securities fraud research on the internet since 1996 (see TLTK). Each and every time we release a research report accusing a company of fraud, we get responses like those we have all seen this weekend. Malicious attacks, slander, threats. Promises by posters we will be put in jail etc. Nothing new, it happens every time - check the threads of the other scam's we busted to verify.
For security reasons we operate under a cloak of anonymity. There are multiple persons performing research that is posted under the nom de plume "Pluvia". Nobody from ECNC will ever know who we are. We have always operated that way and always will. Please note: It is perfectly legal for us to operate from various offshore entities to provide ourselves with better anonymity. We do not confirm or deny that we do this, but we thought we might provide this information to you as food for thought. We suggest shareholders spend their time looking at the research we present rather than attacking the messenger. If our research does not hold up - obviously we have no credibility.
Unfortunately for Manny and ECNC, we do have a strong history of results. We have never accused a company of specific fraud and been wrong. Not once. Every single company we have accused of fraud has eventually gone under. That's a 100% rate of accuracy. But please don't take our word for it, check it out yourself below?
2. Manny also suggests we need to be licensed with some state or federal agency to provide our opinion about eConnect.
To this accusation we respond - HOGWASH. We refer eConnnect's obviously talent legal department to the portion of the 1st amendment concerning freedom of speech.
Now that those issues are resolved, we offer you a look at your history of scam busting and suggest when you are finished you re-read our research on eConnect. We believe the shareholders of eConnect stock risk losing almost 100% of their capital investment if they remain invested in eConnect stock.
Good luck and happy reading.
*********************
NOTE: there are other companies than these we have accused of fraud that have gone belly up, these are the few that are easiest for people to research.
1. TLTK Members of our team accused TLTK of issuing fraudulent press releases, and fraudulent accounting. We worked with the US and state attorney general, the enforcement division of the IRS and the SEC to bust this scam. In the end, 30+ criminal indictments concluded with convictions. All accusations were proven true.
Stock was $9ish when we accused the company of fraud, it was delisted, and now trades for a few pennies.
Subject 2765
**********************
2. PLSIA Begin around post 900 when PLSIA was trading $11-12? We organized a class action suit against the company which PLSIA lost, we accused the company of fraudulent accounting and issuing fraudulent press releases. The company's stock was halted for about 6 months, forced to restate their financials as they admitted the fraud, the CEO was fired, the last employees were recently let go and the company filed bankruptcy?
Subject 7600
Motley Fool article written describing how PLSIA tried to hire Westergaard to silence us, but the sham backfired on both PLSIA and Westergaard..
fool.com
**********************
3. CTRN, ECTS, IVHD, SMEK & MALB Our Research Group Shut Down A 5 Company Scam in 3 days? SI Thread we started and the complete investigation by our research group that led to the single largest trading halt in SEC history - 5 companies in one day? Big credit to Bear Down for making the key connection to the crim Tosto..
Subject 25226
Story written about the scam based on out research
msnbc.com
SEC CHARGES PETER LYBRAND (F/K/A) PETER TOSTO WITH MARKET MANIPULATION
Message 12965041
Altogether, Tosto faces a total of 55 years in federal prison, and $12 million in fines, plus restitution of any illegal profits, on the criminal charges.
msnbc.com
*******************
4. SBTK Our team accused SBTK of issuing fraudulent financials, fraudulent press releases, and failing to disclose significant events to shareholders, (FDA requirement to shutdown a plant - insiders sold 40 million in stock then announced the shutdown).
SBTK fights back at Pluvia. They persuading their investment banker - Robbie Stevens Bank Boston to issue a press release stating the Pluvia research is wrong, giving the stock a $34 price target. SBTK then issues a Dow Jones press release stating they are suing Pluvia for $90 million claiming we made false statements about the company in an attempt to drive down the price of SBTK's stock. SBTK has never served me with the suit..
Less than 60 days later the CEO is fired, new management announces they are in a "liquidity crisis", they cannot file their quarterly report, (admitting my accusations of fraud were true), they defaulted on $85 million dollars of debt, their auditor quit and pulled their opinion on the last 3 years of financials.
The stock was $25-$26 when we issued a sell rec on SBTK, it was delisted and now trades around 25 cents.
Our response to the Robbie Stevens Banc Boston Analyst who claimed my accusations of fraud were incorrect, then placed a BUY on the stock.
Message 11046991
Most recent details of SBTK?
Friday December 17, 5:22 pm Eastern Time
WILMINGTON, Del., Dec 17 (Reuters) - Medical technology company Sabratek Corp. filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court here Friday.
No further details of the filing were available.
On Dec. 3, the Skokie, Ill.-based company revealed in a Securities and Exchange Commission filing that its independent auditor, KPMG LLC, informed the firm that its financial statements for the last three years could no longer be relied upon. The company was delisted from the Nasdaq in November and has endured a rocky 1999 that included missed debt interest repayments and the resignation of its chairman, vice chairman and several directors.
The company's troubles began in June when a shareholder charged the company with accounting fraud. (that would be Pluvia) At that point, shares of the company were trading over 20 on the Nasdaq under the symbol 'SBTK.'
On Nov. 3, the company said its shares now trade on the National Quotation Bureau Electronic Quotation Service under the symbol 'SBTKE.' |
