Craig, I'm surprised and a bit disappointed in that I just assumed that you already knew about Mudry's diatribe. That's why I mentioned his name in my post to you yesterday. I had a copy of it e-mailed to me by a Canadian broker friend two days ago. I assumed you knew this because Mudry obviously has the same animas against Hamouth as you displayed with your early posts here. Once again we see a "slam the investor", but not the company attitude. In fact, when I saw the piece, I immediately thought of you and wondered if you and he weren't one in the same?
Mudry should be embarrassed in his research ability. He wastes all this time trying to insinuate that Hamouth (or his accountant) is doing "hokey" accounting with his 13d. But if Hamouth was trying to pull off a scam, why did he file a 13d with the SEC in the first place? Not the normal MO of a "pump and dump" artist as you know. If all he wanted to do was run a scam by buying low and selling to mullets high, he would just do like every other scam artist and forget the filing. Just buy it and sell it. But then I can't blame Mudry for not knowing how to interpret a 13d because he, as a Canadian low rent scandal sheet seller, probably has never before seen a 13d. If he really wanted to logically research this filing, he would not try to compare the pre-reverse split trading prices with a post reverse split adjusted daily volume sheet. For example he says: "Hamouth Family Trust sold 45,000 shares at 35 cents on Jan. 17.(Over-the-counter records suggest the total market volume that day was 42,000 shares in 14 trades, with a high price of 32 cents." Here is what the Yahoo historical trades show for that day.
17-Jan-02 0.26 0.56 0.26 0.26 42,000 1.30
The stock actually traded 210,000 that day, but after the 1-5 reverse spilt took effect, just as the closing stock price was adjusted to 1.30 the volume was also adjusted down to 42,000. A classic “apples to oranges” comparison on his part.
Now he goes on to challenge the voracity of what stock was bought on what day. From the looks of Hamuths filing it was done by his CPA firm. When I owned a brokerage firm many years ago, we had several clients file 13d's on companies. In virtually every case, we would first get a request for copies of the trade confirmations from the filers attorney or accountant. These confirms would show the trade settlement date. I assume that if there is a discrepancy between certain purchases and sales on the filing visa vie the actual reported trades on these given dates, it is because they probably used the settlement date on the filing. Perfectly legitimate.
I must admit, the more I see of this type of low class vitriol against this man, and for gods sakes his family, the more I know that he is exactly the type of "white knight" this stock needs and am glad I am on board. From what I can see he has a clean record with no settlements or sanctions let alone convictions, over many years with regulators on both sides of the border. But for some reason has really PO's the short selling community. That can only be happening for one reason. He has obviously hurt a number of lightweight short sellers in the past. I say lightweights, because no halfassed intelligent short seller would be stupid enough to short a man that keeps wiping them out, this early in the game. They would wait, as you have suggested in the past, and do it after the stock gets overvalued.
I don't know anything about the prior companies Hamouth was involved in, but I do know for a fact that this one is grossly undervalued based on developed technology, customer base, management, and ridiculously small market cap. If he has hurt the sellers so badly in other issues, then paring his talent with this companies fundamentals, could send this issue rocketing.
Regarding yesterdays stock action. I must admit, I was a little disappointed in the lack of tenacity of Mudry's Mob in knocking down the stock price. We had a lot to buy in the low twos, but no luck yesterday. Hopefully they will give us one "last lick at the log" at cheaper prices today.
By the way Craig, I am beginning to get a complex here. I have made several posts asking your opinion on certain issues here and you seem to be ignoring my questions. |
