Libertyville, USA -- Nov 7, Pluvia Securities Research Initiates Coverage of IVANHOE ENERGY (NasdaqSC:IVAN), at the current price, with a STRONG SELL/SHORTSELL Recommendation, with a target price of under $1.00
OUR STRONG SELL RECOMMENDATION AND TARGET PRICE OF UNDER $1.00 ARE BASED ON:
1. False, and what appear to be intentionally misleading press releases issued by Ivanhoe regarding their business prospects and relationships;
2. A history of misleading and untrue statements made by certain members of Ivanhoe management;
3. The significant number of new shares issued and saleable by Ivanhoe, that if sold could negatively impact IVAN stock price;
4. Ivanhoe’s failure to file reports with the SEC disclosing significant events;
5. Ivanhoe's disturbing and potentially problematic relationship with stock promoters.
A REPORT PROVIDING DETAILS OF THESE ISSUES WILL BE RELEASED MONDAY, NOVEMBER 10.
Pluvia Securities Research, their agents, associates, and or employees have investment positions consistent with the above-stated investment opinion. All comments are the EXPRESS opinion of the Author(s) - All rights reserved.
CONTACT:
Pluvia Securities Research
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Pluvia & the Pluvia research organization have been doing securities fraud research on the internet since 1996. 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 will ever know who we are. We have always operated that way and always will. 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 IVAN we do have a strong history of results. We have never accused a company of specific fraud and been wrong. Not once.
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.
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1. TLTK Sell Rec $9ish now 0.00
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.
Subject 2765
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2. PLSIA Sell Rec $11-12 now $0.00
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
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3. CTRN, ECTS, IVHD, SMEK & MALB CTRN Sell Rec $42 now $0.00
Our Research Group Shut Down A 5 Company Scam in 3 days, the largest single day trading halt in SEC history. 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
All together, 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
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4. SBTK Sell Rec $24ish now $0.00
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.
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.'
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5. TERN Sell Rec $162 now $2.05ish
“SALT LAKE CITY -- APRIL 11, Pluvia Securities Research initiates coverage of Terayon Communication Systems, (NASDAQ: TERN), at the closing price of $162 with a STRONG SELL Recommendation and a 12 month target price of under $30”
Message 13403480
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6. ECNC Sell Rec, $14.50 now $0 NOT TRADING
SALT LAKE CITY-- (BUSINESS WIRE) - March 10, Pluvia Securities Research Initiates Coverage of eConnect, (OTC Bulletin Board: ECNC), at the current price of $14.50 with a STRONG SELL Recommendation and a target price of under $1.00
Message 13161540
Note: ECNC was halted 2 business day following this release. During the 10 day halt the company was sued 2 times by the SEC (I believe a record for speed on their part), delisted to the BB and opened at .25 after the 10 day halt. The suit by the SEC listed the some of the same allegations of fraud as our report.
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7. SCON Sell Rec $42 now $1ish
SALT LAKE CITY--(BUSINESS WIRE)--Feb. 18, 2000--Pluvia Securities Research Initiates Coverage of Superconductor Technologies Inc. (Nasdaq:SCON.O) with a Sell Recommendation.
Message 12908740
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8. SRCM Sell Rec $30 now $0 NOT TRADING
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9. ENBC Sell rec $28ish now $0 NOT TRADING
SALT LAKE CITY, Utah, (Business Wire)--Feb. 11, 2000-Pluvia Securities Research Initiates Coverage of Energy BioSystems Corporation ( Nasdaq: ENBC ) with a Sell Recommendation.
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10. AMPD Sell Rec $18ish now 11 cents
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