Certainly. On 5/23/97 I bought 500 shares through ETrade at 1.00, plus 19.95 commission, for a total of 519.95. I held the shares till 12/18/97, selling out at exactly .10 plus another 19.95 commission and a .01 SEC fee for final proceeds of 30.04. That pegs my loss at 489.91. Small potatoes, I know, but they were my potatoes, by gawd !!
Joe himself promised me a packet on two separate occasions, and some guy named Doug, I think, promised me one on another call when I got their "investor relations" firm.
If you say Joe is honest, fine, I'm willing to give him the benefit of the doubt. Perhaps others were counting on his naivete. As to what caused the price to crash, I'd say that's pretty simple. The company simply failed to follow through on its claims for the CyberCard, and did a lousy job of public/investor relations. They also failed to develop any other lines of business to enhance revenues. They could have at least kept the toner cartridge/laser label business going. That could have made some difference.
Perhaps new management will turn this all around. At any rate, I'm not going to spend another cent on ADLP until I see some concrete results and evidence that the company is anything other than a front for pump n' dumpers.
John M. |
