IDCN - gold, garnet, etc. Message Board

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Microcap & Penny Stocks : IDCN - gold, garnet, etc.

IDCN 0.00001000

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Mar 6 3:00 PM EST

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To: BigTex who wrote (3862)	11/2/1998 7:05:00 PM
From: Mr Metals	of 5908

Richard Walker says that no action was taken against any of the microcap companies identified, because it is not illegal to pay for stock promotion. It seems the SEC just wants paid promoters to disclose compensation:-) In every case, the SEC alleged the defendants did not adequately disclose that they received compensation in the form of cash, stock or stock options to promote the stock. American Copper Corp - Wall Street Journal says microcap hazards exposed in SEC tout sweep American Copper Corp ACC Shares issued 3,300,000 1998-11-02 close $1.1 Monday Nov 2 1998 The Wall Street Journal reports in its Monday edition that the United States Securities and Exchange Commission's first coordinated attack on Internet investing fraud, disclosed last week, highlighted hazards in another area, microcap stocks. Reporter Judith Burns says that although no microcap companies were charged in the Internet sweep, all 23 cases filed by the SEC involved individuals and companies promoting microcap stocks. In every case, the SEC alleged the defendants did not adequately disclose that they received compensation in the form of cash, stock or stock options to promote the stock. Among those named in the sweep were Liberty Capital and Jason Greig of Bellingham, Washington. The SEC alleges Mr. Greig did not fully disclose receiving $1.2-million (U.S.) in cash and stock from at least seven microcap companies. SEC enforcement director Richard Walker says that no action was taken against any of the microcap companies identified, because it is not illegal to pay for stock promotion. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com Mr M

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