DOGS = CLWK, FNTN, AMCX, WAMC, COES, CIX, CXOT, SSMK, KOLR, NEGXQ
Below are the penny stocks I was asked to look into for the week ending January 3, 1999. . . . you know who you are. . . .
CLWK - ClearWorks Technologies [HOUSTON] does not report financials. 7 months old. “Initiated 20 mil fund raising activity” Does this mean thru selling stock? “The company anticipates beginning active service by the end of the first quarter of 1999 to an estimated 4000 homes within the Land Tejas Communities.” If they sell 10 percent [400 homes] at 40/month they will see top line revenues of 16k/month. . . About the same as a donut shop.
FNTN - Financial Internet [NEW YORK] does not report financials. 2 yrs old...and still not reporting. Their last release showed NO REVENUES. . .just losses [salaries?] which are paid how? By selling stock?
AMCX - Americlean [VANCOUVER] does not report financials to SEC. Under 1 yr old. Lots of
unsubstantiated claims. . . buying Dry Cleaners with 14 mil/yr revenue. . . but no name and deal still not closed. . ..
WAMC - Weather All Manufacturing [VANCOUVER] does not report financials. 1 month old. Two guys selling Equinox?
COES CXOT CXOTW CXOTP CXI CXIW, otherwise known as COMMODORE Applied Technologies, Commodore Environmental Services and Commodore Seperation Technologies [NEW YORK]. SEE MIDL and CNHH for similar scenarios. All companies report regularly to the SEC. Hundreds of millions of shares represented here. Ever see someone play the shell game? Dec 31 they announced a swap of assets. . . shares to one. . . debt to another. . . assets move . . .shares move. . .debt moves. . .assets move. . .where is the pea? . . . . . . . . Happy New Year
SSMK - SportsStar Marketing [DENVER]does not report financials to the SEC. Less than 1 yr. old. Bought radio ads aimed at investors. No report of revenues. Sign has-been sports stars. . .vanity biz to
go into schools and help younger kids. . . how does this generate revenues? Does SportsStar make a killing on selling these franchises or do they charge the kids for help in finding scholarships?
KOLR - Kolorfusion [DENVER] does not report financials. 6 months old. They “decorate Motorola phones?” If I sell you my custom desktop color file, does that mean I have a deal with Microsoft?
Reminds me of one of those Postal Mailing centers [like Mailbox's Etc] that claimed they signed a deal with Kodak. . . turns out they develop Kodak film for their customers.
NEGXQ - National Energy Group, Inc. [DALLAS] has reported financials regularly for about 5 years. Their weekly chart looks like a great place to take a sled on a cold day. Ever try to catch a falling knife? This is an oil company that has been placed in chapter 11 and they don't like the idea of being bankrupt so they are asking the courts to release them to continue doing business in a failing way. Info under NEGX...the Q is added for bankruptcy protection. |
