Hello Marcus
I've been watching STNX for about 30 days or more (can't remember it
could be 60 Days). I got there investor package and it look very good
ie... Telephone with screen and keyboard for the internet. But I've
already seen ( I think It's ) Sony out with a unit to attach to your TV to bring you the Internet for $325.00 viser $500.00 for Startronix
phone. Now your TV will give you a much BIGGER picture than the phone
screen. So IMHO, Sony and the others with there link to the TV and TCI
and other Cable companys trying to get in the Internet this could be
bad news for Startronix. Plus did you see the news about there suit?
If not here it is.
NEW YORK, Nov. 8 /PRNewswire/ -- Within 24 hours of its announcement that the company would no longer convert its
Series C Convertible Preferred Stock, Startronix International Inc was served with a law suit by a group of investors claiming
that Startronix "is engaged in a conversion and fraud to obtain and abscond with plaintiff's money" fraud, as well as a
restraining order enjoining the company from utilizing the funds in its bank account.
An attorney for the investors commented that the unusually swift action was possible because the placement agent and a
number of the investors sensed a change in the company's attitude shortly after the last monies were given to the company, and
thought that the company's intentions may be to defraud the very investors who saved the company from impending financial
disaster.
George Sandhu, a representative of the placement agent commented that other groups of investors were about to take other
paths of aggressive actions in various attempts to protect their investments and that such actions would occur immediately.
Startronix incurred a loss of $3,399,490 in the nine months ended March 31, 1996. As of March 30, 1996, the company had
an accumulated deficit in excess of $10,000,000 and a negative cash balance. In an 8K dated September 20, 1996, BDO
Seiderman resigned as Startronix's auditor because "it can no longer rely on management's representations." The company is
currently late in its filing of its form 10K. SOURCE Baytree Associates
30 to 40 stock? I don't think so! but as a short term to make a 1 or 1 1/2 points on good news, This could be done.
Tom
PS: 10,000 share times 1 1/2 points = $15,000 gain, Good luck :-) |
