AENG Cliff notes through 6/22/1998: Part 3 An annotated summary of all the posts that matter.
GREAT AMOUNT OF INSIDER SELLING
One of the biggest red flags associated with AENG concerns the volume of
insider trades that are taking place. TRAV and his family members have
filed to sell vast quantities of their shares, a textbook sign of a pump and
dump stock.
Yahoo has a site that lists all of AENG's insider selling announcements:
biz.yahoo.com
1) (from Micky, #818 www2.techstocks.com
"For a small company that just started trading, alot of planned sells so
early in the game."
2) calculations done by
(Sword, #822 www2.techstocks.com
"Look at the link once more. Who in the world are Motor City, Inc. and Macro
Management Group, Inc.??? They sold the exact same number of shares at the
exact same time as OX2 Engineering Distribution, Inc. (200,000 shares). Are
these some kind of front companies who have no products and exist solely to
act as conduits to sell the stock to the public? Subtracting the 200,000
shares sold at $4 by OX2 from the rest of the insider sales, we can come up
with the following:
Total insider sales during first six months of the year with NO waiting
period for sales of the stock: $2,596,446. Therefore the total cash
pocketed by insiders during just the first 6 months of this company exceeds
the total cash raised by the company by the initial "public" offering! But
there is more...According to post #1, there are 21,000,000 shares "closely
held". Who owns them? And when will they hit the market? And how many
Travises are in on this deal?"
3) (Goldfinger's response, #832,
www2.techstocks.com
".OX2 Engine Distribution Company of 2nd Floor Windsor House, Kumul
Highway, Port Villa Vanuatu, Australia files to sell 200,000 of February 20,
1998 as does Motor City and Marco Management (200,000 shares each, same
address in Australia)." [Murray's personal holdings]
4) (Goldfinger, #898 www2.techstocks.com
"Joncey, Inc Files to sell 15,000 shares through TRAV. Same mysterious
address: 2nd Floor Windsor House, Kumal Highway Port Vila,
Australia.Obviously, the pump an dump continues..."
5) (Pirate, #53, www2.techstocks.com
"about 15 144 fillings - bunch of people selling their stock - ranging from
Feb this year to April this year. Not a single 10k, 10q, or any other
info.... perhaps this is a great 'Short'???"
6) (from Goldfinger, #280,
www2.techstocks.com
"Murray Bailey, since the hyping of AENG stock really got under way, has
sold three lots of 200,000 shares (600 k) under fictitious business names
and more under his own actual name (imagine that). If he really had what he
said he does, would he be selling?. Note how much insider selling that
Patterson Travis (market maker symbol TRAV) family members have done. Do you
think they know what is going on?"
7) (from Goldfinger, #288,
www2.techstocks.com
"Insider selling substantiated: Feb 20th: OX2 Engine Distribution, Marco
Investment and Motor City each filed to sell 200,000 shares. These are all
10% beneficial holding companies that Murray Bailey controls. id the
sales for Murray's holding companies. Please note that TRAV has also sold
562,250 shares for members of the Travis family since the beginning of the
year (all have the Travis last name).
8) (Goldfinger, #348, www2.techstocks.com
"Gerald Kaufman of 15 Glenwood Rd. Plainview, NY files to sell 5,000
shares. Another Patterson Travis client selling his 45 cent stock,"
9) (Goldfinger, #636 www2.techstocks.com
"Aaron TRAV files to sell 5,000 shares through Hambrecht & Quist 415 439
3000. Q: How come TRAV (Jr.?) didn't sell through the firm?"
TRAV as market maker pumping AENG:
>From the Yahoo site listed above, it is clear that Travis and his family
hold much of AENG's stock, and that they are in a hurry to sell. Aside from
his family's interest in the stock, David Travis (runs TRAV, Patterson Travis) appears to have much personal interest in pumping this stock, as he has been actively participating on the thread-contributing his
share of hostilities and name-calling to any naysayers of AENG.
Travis has personal stake in AENG as its founder.
1) (from Greg Cummings, posting #78,
www2.techstocks.com
"An American guy named David Travis heard about Steve. Travis founded and
funded AENG. Travis also knew Murray Bailey of Australia. As the time
requirements for those involved with AENG increased, Travis was unable to
commit the time and passed the company to Murray Bailey."
Travis' reputation as a market maker is questionable, as he has been known
to pump and dump stocks in the past.
2) (from Goldfinger, #317):
"the top 15 stocks that TRAV 'makes' . AMPD, FILM, ORTC, TGSI, WILCF, RHCSE,
HPWR, CHEF, INFD, HDWY, USWC, BYCL, CECE, FUTR and MDPA. Take a look at
WILCF, that is a classic propped up-chart so that they can keep the margin
credit at 2 to 1. ($5 plus)."
(http://www2.techstocks.com/~wsapi/investor/reply-4614359)
Travis has a personal relationship with Murray (AENG's owner/only employee),
as the two have worked together in the past. This may explain why Travis is
so willing to help Murray pump and dump his stock.
2b) (from Goldfinger, #487,
www2.techstocks.com
"Perhaps TRAV and Murray tell us about EPEA, now at 2.3 cents/share.
(E'Prime Aerospace Corporation). This was the last deal they worked
together, the US version of FOR AU. Check out the insider selling on that
one! Same deal: NO financial information available." TRAV in his off and on responses to this thread, never addresses questions about this company. (For a particularly hilarious interaction between TRAV and Auric Goldfinger that consists of 24 posts over a one hour period one evening see exchange2000.com
Travis has been found to participate in illegal practices.
3) (from Arcane Lore, #842,
www2.techstocks.com
".The findings also stated that the firm, acting through Travis, offered
securities in an initial public offering that met the definition of a "penny
stock," but did not comply with Securities and Exchange Commission (SEC)
Rules 15g-2, 15g-5, and 15g-9 in connection with the offer and sale of those
securities.."(see nasdr.com for details)
4) (Goldfinger, #858,
www2.techstocks.com
"Details on the laws that TRAV broke:'Securities Lawyer's Deskbook' for
general details see law.uc.edu The specific
links are:
Rule 15g-2 - Risk Disclosure Document Relating to the Penny Stock Market
law.uc.edu
Rule 15g-5 - Disclosure of Compensation of Associated Persons in
Connection With Penny Stock Transactions.
law.uc.edu
Rule 15g-9 - Sales Practice Requirements for Certain Low-Priced
Securities law.uc.edu
|
