********* AXXS Short *********
AXXS going to zero?
AXXESS Inc. ( OTC BB AXXS ) is a web page publisher and penny stock hype artist that has several sites that appear to be supported by Debt and the issuing of more shares of stock.
They also, it seems, pump and dump stocks at the same time. One of their sites started in December 1995 The oldest site in their family, Claims to have un-biased, "analysis, educational information and data on small and micro-capitalization stocks". But when I look to the very bottom of AXXS stock hyping page we find this "Employees of Axxess, Inc. may, from time to time, buy or sell securities mentioned."
These folks seem to have no trouble stiffing investors, the company has had a 1 for 25 reverse stock split in the past.
AXXS claims 12 or more web sites in their family... This is funny!
They set up a message board ( it don't work as of 11/20/98 ) and call it a web site, They set up a Associates Program with a couple of on line sellers and call it a web site. They sell one Advertisement to display an annual report ( more hype ) and call it a web site.
AXXS web sights seem to have nothing new that you can't get better from other sites for free.
AXXESS Inc. ( OTC BB AXXS ) Is the ultimate in a scam company it seems.
Common Stock, $.001 Par Value, 100,000,000 Shares Authorized, 3,498,000 Shares Outstanding as of June 30 1998. They added more than a million shares in the 12 months prior. As far as we can tell they should be bankrupt with net assets of $364,435 and liabilities of $625,340 at the end of the same period.
But nope they are still kicking...
I wonder how many more of the 100,000,000 shares authorized they have sold for pennies while investors on the open market are paying $3.44 or so as of 11/20/98? Or maybe they are just selling the companies shares to finance their sick operations in the open market.
The bottom line seems to be that if you want about 12 or more crapy web sites you could buy them at the end of day 11/20/98 for about $ 12,033.120 ( and that is not counting any additional shares the have sold during the last 4.5 months).
The problem with this is that if you wanted to build web sites like they do you could probably do it for a few hundred bucks.
Internet Web Sites $137,750
SQL Data Basde $ 10,000
Total Intellectual Property 147,750
As a matter of fact if you look at the above ( from their notes to the financial statements ) you can see they valued there web sites at $147,750.00.
So $147,750.00 divided buy 3,498,000 shares ( June 30, 98 ) = Stock worth about $0.04 cents per share. But hey dont forget the debt.
I think this one could go to $0.00 real fast.
Good luck folks this one stinks!
Bob |
