WARNING TO ALL POTENTIAL BUYERS OF THIS STOCK
OTC Financial Network (aka. OTC Communications) is a promoter of this stock. My experience with OTCFN has resulted in numerous material misstatements by this PR firm in regards to a stock named Systems of Excellence, which was represented by OTCFN. During that time, Geoff Eiten, partner at OTCFN, mistated the number of common shares outstanding to me on 3 occasions. It was only after I did further research that he finally admitted the additional shares. He denied reports that the NASDAQ has denied Systems of Excellence (SEXI) a listing, when in fact they had been denied. He told shareholders that SEXI had a $130 million deal with the State of Florida which never came to fruition. And probably on his worst offense, he told me on Friday, October 4th that all SEC problems had been solved and that the company had indeed signed the deal with the State of Florida. This, as anyone following the SEXI saga would know, was a blatant lie. On Monday, October 7th, the SEC halted SEXI trading. Finally, Mr. Eiten had been telling shareholders all along that all the shares being issued were for restricted stock. However, a call placed to the transfer agent this week confirmed that most of the company's shares are not restricted. OTCFN has a dismal record of disseminating accurate and truthful information in my opinion.
If you are thinking about investing in a company in which OTCFN represents, I would very carefully examine the company, and certainly not rely on anything this PR firm has to say. If you're a current shareholder, I have no bone to pick with the company. But if you're relying purely on information given out by OTCFN, you might want to start asking some very tough questions. Incidentally, you can call your company's transfer agent and find out the current number of shares. This information is considered public. I felt highly misled by OTCFN's representations on the number of SEXI shares. If the company won't tell you who the transfer agent is, consider that a red flag. |
