ECNC (OTC:BB) - eConnect Message Board

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Microcap & Penny Stocks : ECNC (OTC:BB) - eConnect

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To: Torus who wrote (6950)	3/14/2000 11:04:00 AM
From: Mama Bear	Read Replies (2) of 18222

"Why can't even the smallest startup companies be required to file regular financials with the SEC?" All publicly traded companies should be required to file audited financials with the SEC, IMO. But the fact is that it is not required. It is a good rule of thumb to avoid trading any company that doesn't. Would you buy a hot dog stand from someone without looking at the books? Why would you buy any business without doing so? "Why do respected international wire services distribute information that is complete BS from dubious companies? They distribute PR's as their business. It is a mistake to believe that the mere fact that they distribute them is a stamp of approval. Anyone can pay the fee and get a PR distributed. Why do "respectable" brokerages participate in the transfer of worthless stock? They won't make any money from commissions if their customers are broke from buying worthless stock at inflated prices." If you are referring to the deep discount brokerage, their business is taking orders. If you move up to a full service broker you would probably receive some warning from him, and some may insist that you insist before allowing the transaction to go through. I have also been aware of at least one full service brokerage who refused to trade in a particular stock. Interestingly, that stock is up twenty fold from that time. "You guys apparently find these scams all the time...if they are that prevalent and can be exposed with some DD, then why are they out there? Why are there not controls in place to prevent them?" They're out there because people are raking in piles of money from the foolish who would rather make racial slurs and call people thieves than listen to those who have done real due diligence. There are controls in place. We see that in ECNC's suspension. One can't summarily stop a stock from trading until the company has committed fraud and the pattern is provable. Legitimate start up businesses could be squashed were that allowed to happen. It is an imperfect system, and a trader must protect himself. Regards, Barb

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