HeartSoft Incorporated (HTSF) Message Board

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Microcap & Penny Stocks : HeartSoft Incorporated (HTSF)

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Nov 14 9:30 AM EST

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To: Benjamin Shell who wrote (322)	8/5/1997 1:13:00 PM
From: Lee Bush	of 1781

Ben: I have struggled with the shenanigans of these MMs for several years now. Certainly any thing that would build the confidence of small investors would improve the investment climate for BB stocks. As long as small investors must try to outguess these MMs, there will be relatively few investors in small cap stocks. In my opinion, more regulation is needed, or a different trading format (not likely to happen). A narrowing of the bid-ask spread is required to enable investors to gain greater liquidity. For instance, .40 x .50 is a 20% spread. That is ridiculous. You invest and you are behind 20% instantly. We need a much larger number of MMs in these issues, thereby making it difficult for MMs to connive to rig prices and to short stocks without fundamental reasons. MM-to-MM trades should be identified as such on the tape and timely posts of trades should be enforced (they can now just arrange the posting of trades to benefit themselves). We need to open these stocks to professional funds (most funds are excluded from investing in stocks below $5). I have heard rumors that certain MMs are actually owned by Mob figures. We need to see that such ownership is eliminated. We don't permit it in lotteries, but do so in brokerage houses? I think that the internet has done a great deal to educate investors in the skills necessary to invest in BB stocks. I'm sure there are many forces which would like to get rid of the internet forums, such as we have on SI. I pray that that will never happen. The SEC and other agencies should provide the infrastructure so that the whole spectrum of businesses, from the smallest husband/wife business up through the largest corporations should have access to equity capital. That would truly make this country a bastion of private enterprise. I know of one couple that have a growing business producing audio books for some very large publishing firms. They have been forced to fund their business using credit cards at 20%, instead of being able to access lower interest loans. It is ridiculous. You have hit a tender spot. Sorry for the long post. Thanks for your concern, Lee

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