SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: TokyoMex who wrote (36972)12/30/1998 9:42:00 PM
From: MoneyMade  Read Replies (1) of 119973
 
IFLY,SEC NEWS...I can't seem to find you dude!!

Beware IFLY

MSNBC article:

Here are some excerts followed by the URL link:

"So I doubt anyone at the SEC or Nasdaq or anywhere else will be rushing to ask why it was that
an obscure Nasdaq SmallCap stock named 800 Travel Systems Inc. (IFLY) sold for $6.75 last
Wednesday yet by 4 p.m. Monday was selling for $16.12. This company, which went public last
spring at around $5 per share, quickly sank to barely $1 in the after-market, and was still selling for
barely $4 as recently as Thanksgiving week. Then came Monday when, for no apparent reason,
the stock nearly tripled in a day, on roughly 70 times normal volume.

Here's the good part:

"Why? One good place to start looking for answers would be the co-underwriter of the
Company's IPO: First Liberty Investment Group Inc. The SEC investigated an employee and a
consultant of the firm, a microcrap underwriter, as part of a 1997 probe of penny stock swindlesk.
If that avenue leads nowhere, then investigators might ask questions of at least one IFLY board
member: Pasquale Guadagno. Guadagno may be pure as the driven snow in all this, and no
evidence is known to suggest otherwise. But he might have some helpful suggestions for
investigators since prior to joining IFLY's board he served as a senior vice president of a
now-defunct Boca Raton swindle-shop, Euro-Atlantic Securities, that was expelled from the
National Assocition of Securities Dealers for market manipulation and deceptive sales practices.
Maybe Pasquale has some thoughts on how IFLY got from $6.50 to $16.12 in a day."

Source:

msnbc.com

Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News