Gary, What are you doing? Are you now back as the IR? Better yet what is this company doing? Awhile back it was posted about what to look out for in press releases, concerning companies that put out leading press releases that lead nowhere but manage to raise the stock prices on hype. This reeks of that in my opinion!
Just take what, if anything is pertinent and leave the rest:
The recent ascendancy of so-called "blank-check" blind pools, in which the new company generally has no assets, no employees and no stated business plan, has fueled the spread of fraud and abuse in the penny stock market. Once relatively rare, blind pools accounted for an estimated 70 percent of new penny stock offerings in 1988 and the first half of 1989, compared to less than 5 percent as recently as 1983. A high percentage of blind pools frequently are indirectly controlled by broker-dealers and unnamed promoters, many of whom have been identified as repeat violators of securities laws and felons, who use the offerings as a vehicle for systematic market manipulation. A number of direct links have been made between promoters of "blank-check" blind pool penny stocks and organized crime, according to the NASAA report to Congress.
THE "BLANK CHECK" BLIND POOL PROBLEM
An estimated 70 percent of penny stock new issues floated in 1988 and through mid-1989 were blind pools, virtually all of them "blank check" offerings, so named because investors are provided with almost no meaningful information about the company in which they have placed their money. For example, "blank check" business plans are not detailed in the offerings' prospectuses. Frequently, "blank check" blind pools are merely sham corporations that are brought public as vehicles for future manipulative conduct, which is widespread. In a matter of weeks after a "blank check" offering closes, a "reverse merger" or "reverse acquisition" may be announced and the underlying blind pool becomes and immediate candidate for hype and manipulation in the secondary marketplace, which is where stocks trade after an initial public offering (IPO) has been made. Similar abusive activity also takes place with so-called "shell corporations," which are generally inactive or bankrupt publicly-traded companies that are "raised from the dead" and merged with private companies.
This company continues to walk, swim, and quack like a duck.
Too many of these companies announce this type of merger only to see it fall as this has before, by the way side.
This shell (MIDL)has had a number of folks involved in alleged SEC violations,n and now civil violations,(THEFT Fisher)
Sorry, but the red flags are waving and I feel a need to make that very clear. Alot of these companies will indeed announce a merger or
in negotiations with a company that is in Europe or far enough away that it very difficult to gather information.This plays on until the stock can be "played " and/or scalped off the momentum of the release.
I Question why:
1. No release from the company accepting Gary Swanceys retirement from unpaid IR?
2. Why would the RETIRED EX. SEC. Attorney, whom is now the CEO of MIDLAND sent Gary Swancey( Retired IR) a rough draft OR any draft for
that matter, to announce this possible merger?
3.where are the directors of this company?
4.Where are the shares promised all the investors of Ps?
5.Where are the Arrest warrants for Daniel W Fisher?
6.What is the status of John Spriggs involvement in the Arcon fiasco? and is Midland pressing charges?
7. Why is there so much confusion from the company to the T/A?
8. And to the broker's?
9. and to the stockholders?
10.Is Gary Swancey now the IR for midland or Director of Editing?
11.when will we see anything which IS Diffenitive in nature from this company?
Gary this is not personal, you will do what you feel is right from your perspective and your philosphy but if your "assisting" on releases, we should know! Will the gambling casino's come next? Will we have a constant stream of CNHH's cast offs?
What this company needed was to come forward with an honest to goodness "clean", unfettered and totally unconnected company!
The leopard has not changed his spots NOR did it even try, just went under ground for a brief period so that it did not have to explain or answer why!
ALL OF THIS IS MY OPINION, AND DOESN'T MEAN JACK! IF you have a differing opinion so be it, just be careful.
Regards always
Jeff |
