Repost: "The Short Report" (Part I)
This will commence a series of posts publicly disclosing the research
and evidence that has been gathered so far. Before I begin, I would like to
cover the following points:
1. Ongoing Investigation.
More data is coming in and is needed! If anyone can has anything to contribute,please contact me at my e-mail: LGP@primenet.com or call my voice mail at (310) 859 2262 and leave a message and return number. on my e-mail, LGP stands for Lewis Green Productions, my company, I am a professional screenwriter and my films include "Never Talk to Strangers", "The Spy Within" ("Flight of the Dove" in Europe), "Dead on Sight" among others. Anyone should be able to find some at your local video store, here and abroad. The point of this is I am not a stock promoter or "hyper". I am a private investor, hard core researcher and bit of a shareholder activist, net junkie, and communicator. I am interested in hearing from anyone with relevant information, particularly anyone who received e-mail from any of the parties involved forecasting or outlining the content of articles that later appeared in the media including wire services on the companies involved.
2. Other Companies
This activity involves more companies and "short targets" than just IPM. The information gathered here is not the result of a campaign or company effort, but the collective effort of private shareholders, among us are resourceful professionals with many skills and resources. This information is intended to be freely shared, will all including appropriate regulatory agencies and the targeted companies who will I suppose have to determine if this situation warrants criminal or civil legal action. I would like to caveat, that this is in no way a statement as to the merits of these other companies. I believe it is likely that some or many of these other companies are both high risk/reward stocks and sincere efforts at cracking new technologies/difficult markets, and which like IPM have been unfairly vilified. However, I have conducted due diligence solely on IPM, and can not attest to the merits of the others, and no endorsement should be inferred. These companies include: IPMCF, IAIC, UFEM, JYRA, Safety-Lock & Quigley.
3. I plan on contacting about this mater Mr. Al Lampins at the SEC, at his e-mail address: LampinsA@sec.gov
4. I have been told that SI has many more rules than covered on "Terms of Use" -- too many rules to list them for us on line or even in writing, yet we must abide by them none the less. I fully intend to do so, to the best of my ability, and urge SI if it finds anything objectionable in my posts to contact me and I will immediately edit it and bring the post into compliance. Violation of any SI rules is _NOT_ intended! This information affects 5 companies, and I would like to share it with the shareholders of those companies on those SI threads as they don't read IPMs. When I originally posted this to all 5 groups, SI informed me this constituted Spam, a rule violation, and I've since requested guidance on how to handle this -- as I feel those threads should share in this discussion. I suggested perhaps posting a link to this post on those threads (JYRA, IAIC, UFEM, Satety Lock, Quigly) rather than repeat the post -- but have yet to hear back. I've not gotten any response back for some other classifications, but so far have been told the actual problem was posting a persons home address and phone which I will now refrain from, even if it is publicly listed. I will post contact numbers for the institutions involved for people to research and fact check with, as many other posters on SI have done in the past numerous times without censure, because this seems quite routine and logical and I therefore assume it does not constitute an SI rule violation. In particular, Mr. Loren Steffy has repeatedly asked others to post his work contact numbers on SI and other on-line services stating that he wants to talk to any IPM shareholders as part of his "research" -- and as a reporter his contact information is deliberately public.
Thanks,
Lew Green
LGP@primenet.com
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The Short Report (Part I)
First, I will begin with the cast of characters.
David Schechter
Mr. Schechter is possibly the manager of a "hedge fund" and a Vice
President at HC Wainwright an otherwise respected Boston based brokerage house and IPM market maker. He is a pivotal figure in these short attacks, one I hope Mr. Lampins at the SEC should definitely look into. Mr. Schechter posted anonymously here on SI as "Hedgy1"... His e-mail address was: hedgy1@aol.com. I have solid evidence of this, and easily can back this up upon request.
Mr. Schechter it appears has a very close relationship with two Bloombergreporters, Loren Steffy, and Roger Madoff. Both have done negative articles on companies/targets Hedgy1 has attacked on Silicon Investor such as IPM,IAIC and UltraFem.
Mr. Schechter, posting as Hedgy1, sent numerous e-mails to on-line
investors of these companies, urging them to dump their shares as quickly as possible (just the way ECharters is currently doing here in his last post to me). Mr. Schechter would lie about his background, and claim to be a private investor, not a broker. In June, Mr. Schechter contacted Cindy Lou Miltimore, right after her breakup with Frank Stauffer (who posted as "CL" here on SI) and immediately insisted and arranged for her to speak with Loren Steffy. He also called her regularly urging her to mail him copies of memos Ms. Miltimore had retrieved from Mr. Stauffer's trash. He even offered to pay for her time to make him copies. There's a lot more, but this will serve for an introduction.
Loren Steffy
Bloomberg News
Dallas, TX
phone 972 335 8910
fax 972 335 8531
head office/news desk: 800 444 2090
Mr. Steffy is familiar to many here. The inaccuracies, misstatements,
misquotes, & repeated errors and omissions of his articles tell quite a story as does his repeated refusal to travel to Phoenix actually meet the executives and scientists, and see the technology behind IPM. Mr. Steffy published a wild story of Stan Wardle's impressive "Friendship" lab in Las Vegas not existing, despite a source tells me, his being previously told by Barnard Guenara, President of BD, that his people had been there, and it existed. He persisted with the story anyway, coincidentally after a nearly month long prelude of posters on SI, such as David Findley (who lives near Mr. Steffy in Texas) creating FM frenzy here on SI. But perhaps the most telling story Mr. Steffy tells, is in his own words to Ms. Miltimore. I have just received an affidavit from her, where she attests that Mr. Steffy at lunch with her on August 20, 1997, said to her that _they_ really wanted to "nail or get IPM..."
Roger Madoff
Another Bloomberg reporter, who on a conference call with a concerned shareholder and his broker, admitted he speaks often with Mr. chechter. He also happens to write apparently negative articles for stocks Mr. Schechter is short. Mr. Madoff and his editor at Bloomberg, also deems blatantly manipulative short "sell" recommendations from highly suspect brokerage "Key West" worthy of feeding on Bloomberg, cloaking the unusual and alarmist wording of the "recommendations" verbatim and without disclaimer, in effect giving them the aura of a journalism.
Key West Securities, Inc.
I won't bother with the addresses, these people seem to move around and avoid answering questions like crazy. Perhaps the SEC can pin them down. This "brokerage" comes out with short "sell" recommendations on targets of Mr. Schechter, at convenient times, which are instantly elevated to International attention by being carried on Bloomberg. Key West seems a shaky, peripheral and inconsequential player in the financial markets to receive such treatment, and seems to be obviously carrying out a deceptive agenda. Despite dozens of requests, no shareholder has yet to receive a copy of their "research report" on IPM, and many have doubts it ever existed at the time Bloomberg ran this "story".
Key West worded the press released summaries of their sell recommendations on JYRA, with amateurish, wild accusations citing no evidence or fact, but full of alarmist terms such as: "trickery" "Bogus" "apparent Internet fraud running rampant". I wonder if this report quoted by Bloomberg ever existed at the time of that article either? I wonder if publicizing false or nonexistent reports, as well as Mr. Schechter/Hedgy1's behavior in cahoots with Walter Anderson/Key West and certain individuals at Bloomberg constitutes Internet fraud running rampant?
Fiero Bros (FSCO), Fahnestock (FAHN)
Nasdaq level 2 market makers, and notorious "short" houses.
HC Wainwright (WAIN)
Nasday level 2 market maker for IPM. A mature, well-respected Boston Based investment and brokerage firm, not known as a "short house".
Frank Stauffer
Electrician, part-time stock promoter, long-time/long-term IPM investor,part-time prospector. Mr. Stauffer posted on SI under the moniker "CL Miltimore" inspired by his relationship at that time. Details around this have been covered here on SI previously. Mr. Stauffer is a colorful character, who IMO never hid the fact that he promoted stocks in conversations with myself and other investors I've spoken to. I vividly recall his SI quote "I'm just an old stock-picker"... It has been my personal experience that Mr. Miltimore only touted companies he researched and sincerely believed stood reasonable chances of achieving success. I believe he became nterested in the "desert dirts" due to his personal experience with electrochemistry and plating technology and subsequently caught the prospecting bug. Mr. Stauffer agreed with some other investors that a heap-leaching type "revolution" in mining was approaching and subsequently a desert dirt "land rush". Putting his money where his mouth and thoughts were put together research and resources, and struck out prospecting in the Southwest earlier this year.
Cindy Lou Miltimore
Mr. Stauffers former companion, who had an intimate relationship with Mr.Stauffer for several years.
There is a lot of material to compile, condense, and it is a challenge to present it in a logical and coherent fashion. I am going to stop here for part one, but leave everyone with one link of an interesting bit of evidence about Hedgy1 and his precognition of Bloomberg news items on stocks he shorts:
techstocks.com vestor/s-10157/reply-27
More to come...
Lew Green |
