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Microcap & Penny Stocks : PowerTel USA (PTUSA) was Nevada Energy (NNRGA)
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To: SwampFox6 who wrote (232)7/3/1997 4:44:00 PM
From: Frank P.   of 303
 
Hi Swamp and all;

I was just reflecting that we should be in a good position to view all the July 4th fireworks starting tonight through tomorrow night, depending on the organization that is the sponsor. Do we have sufficient beverages?

On a more serious note (if one can be serious about PTUSA), I hold my shares in a Charles Schwab account. Earlier today while browsing my positions, I noticed PowerTel. The value field carried its normal NA; but the symbol field was PWLUA??????

I have tried to get a quote or recognition for this symbol on 6 of the Internet sites (Schwab, Lombard, MSN, etc.) that I have in my favorites list. Lombard showed b/a of 1/16 -- 1/8 with no sale price or volume. The rest of them, including Schwab, did not recognize the symbol.

So I called Schwab. It appears that Schwab has two systems that they consult. One carried PowerTel under PTUSA and the other PWLUA. The young lady, sounded nice, could not get any response to either symbol. So she consulted the Pink Sheets and gave me the verbal b/a of 1/16 -- 5/16. Also, she traced back and found the name chnages: NNRGA to PTUSA and PTUSA to PWLUA. She did not find any contibuting information on the last change. She said she was confused; would try to trace it further on a time available basis; and contact me if she learned anything new.

So the plot thickens. This really appears to be a classical Con Game. Use one name (symbol) to draw in the Marks. Then change names (symbols) and go after another bunch of Marks.

Oh well. I've been rowing for so long that the blisters are gone and my hands have hardened. Since my hands are no longer sore, and since the stock is worth less than the sell commission, I guess I'll just keep rowing and waiting. I can rationalize this as one of life's commedies, and who knows may learn something about human (or alien?) nature.

Happy investing and have a Great 4th guys;

Frank
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