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Microcap & Penny Stocks : SIIS (Struthers Industries)
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To: tahoeman who wrote (570)10/3/1997 1:32:00 PM
From: Richard Linder   of 709
 
It seems to me that Mr. Carey and Co are shorting the stock without really being in possession of TRADABLE stock. They probably started shorting long ago and are poised to collect millions of other people's money if they can buy at these prices.

However, I think they panicked when they finally received the certificates and noticed that the shares are restricted. That may mean they have no shares to "replace" the "borrowed" ones that were used to short in the beginning. This caused them to take a course of action to insure the stock price will stay depressed while they fight in court to have the stock changed to "tradable." Then they replace the stock in the agent's account with recently purchased cheaper stock and keep the difference. By the way, I think it is illegal to short without being in possession of tradable stock. Perhaps they have a under the table agreement with a brokerage firm, but now are out of time?

I am new at this business so there are certainly things I am not aware of in this kind of warfare. However, I think the above is close to the scenario we are witnessing. They have simply created a negative (public relations) stampede to unload the stock knowing that the company is unwilling to make forward looking statements to enhance their public image.

If the company will come out of its shell and make a positive and truthful announcement about the progress in testing the systems' technology and make a positive statement about the the IVDS business in general, I think the stock would rebound smartly, to the chagrin of Mr. Carey et al.

There, that's my two cents....
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