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Microcap & Penny Stocks : FUNTU CCWW USBR
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To: Hayward F. Taylor, IV who wrote (31)11/14/1996 2:43:00 PM
From: Prof. Curt M. Breneman   of 62
 
Folks, the upshot of this deal is that State Capital Markets is
closing up shop. I called there yesterday and found out that they have a skeleton crew of people answering phones, but that all of the money is about gone and they are not making markets anymore. They
say that they were put out of the game by the same short-sell event that nailed a lot of us with money in USBR...etc. I am not sure of
the usual fate of a stock without it's original market maker, but since this was a NASDAQ National stock it might be better off than some others. It seems that the companies involved USBR, FUNTU...etc are still going strong, and that this is all a paper chase. I wonder about the accuracy of that assumption, however, since these companies must use some of their stock as collatoral for business loans and such things, and their value is almost nil at the moment. How can this help but cause problems for the businesses involved?
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