AENG Cliff notes through 6/22/1998: Part 6 An annotated summary of all the posts that matter.
SUMMARY
In closing, the aforementioned "red flags" surrounding AENG and its
questionable miracle engine are well-summed in the following recent posting
to the SI thread, reproduced here in its entirety:
www2.techstocks.com
" To: david travis (892 )
From: Brent
Friday, Jun 19 1998 11:33AM ET
Reply # of 903
David,
Why didn't you ever answer my question in post #641?
Why would you sell stock at the $1-4 dollar range when you knew this
'patented' engine
was going to revolutionize the world?
And Why do insiders continue to sell?
All:
This is such a farce it is hilarious. There is not one shred of
legitimacy to any part of this
stock. Under every rock is a problem and an excuse from David and Greg
why it is ok.
This is textbook Bulletin Board Pump and Dump scam. First, use a bb
stock because
the reporting requirements are very lax. Second, have a product that
will 'revolutionize'
some industry (much easier to sell the stock this way). Third, find a
'pro' who will accept
shares for using his name or that actually believes the story. This
helps bring legitimacy
to some potential investors. In this case it is Carol Shelby. (Keep in
mind, I am not
saying he is in on the scam, but is being used as a pawn.) Fourth, keep
the big
contract/testing/demo just around the corner. This draws out the
inevitable end of the
story. Five, insiders dump their shares and make a fortune. Six, blame
the failure on
someone else. In AENG's case, I bet it ends up being the engine industry
that doesn't
want to change because the oil companies are greasing their pockets so
they can keep
selling their oil and gasoline. Lastly, don't forget the heavy doses of
hype in every step.
Let's review AENG's situation.
1. They supposedly have invented the perfect engine. It has
solved/addressed/improved
every problem with current engines. That in itself makes me laugh, let
alone all the other
'issues'.
2. Bulletin Board Stock (Do I really even need to say more?)
3. No US patent number.
4. Claim to hide patent because of copy cats, but publish drawing in
Detroit newspaper.
5. Won't go to big 3, want to wait for them to come to AENG. LOL
6. Only have demos, not independent testing.
7. Association with David Travis.
8. Insiders selling.
9. Invented by same guy who invented 'trees that grows while you watch'
10. Demo'd by Australian driving around US in an RV. LOL
11. More effort by company/market maker to hype stock than the actual
product of the
company.
12. The market maker participates on this thread. double LOL
13. Longs can't refute the shorts claims, instead they call them names.
(The post this is
addressed to is a perfect example.)
Sure some investors did well (read: got lucky) and rode it from single
digits to teens and
higher, but many more are going to hurt riding this one to zero.
Again, I am not long or short. I am not some big investor, I am a small
potato in Dallas
who is having a blast watching this story unfold.
This of course is all just my opinion,
Brent
PS Let the flames and name calling begin. " |
