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Microcap & Penny Stocks : Spa Faucet (DRIP)

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To: Nina who wrote (114)9/28/1997 8:37:00 PM
From: Mahatmabenfoo   of 141
 
> It may be this shadow

No kiddin'!

SPA's management at its highest level was -- and is? -- involved with ECO2's frauds. It was SPA's Sudman who led the group that was supposed to buyback ECO2's interest (whatever that was) in SPA. The fact that the buyback was apparently at a ridiculously low amount (since a controlling interest in SPA was worth more than market value, not a tiny fraction of market value) looks like self dealing.

Significantly, SPA *never* acknowledged being a 51% subsidiary of ECO2. This inconsistency between SPA's and ECO2's SEC filings was and remains troubling about both companies.

- Charles (cbknyc@aol.com)
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