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Non-Tech : MILLIONAIRE. COM........( MLRE )
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To: interesting man who wrote (873)1/4/1999 7:20:00 PM
From: Henry Hayashi   of 2664
 
>>The truth is in the official company releases. Never was a party mentioned(EOM)<<

Be very wary of press releases from bb companies. They are under no legal obligation to back up anything they tout. There was a bb software company I tracked last year that had tons of software in stores, kept issuing pr stating sales were exceeding all expectations and that demand was great. They also stated that earnings were going to be far in excess of previous years' eps and that they were going to show a major profit. The stock flew from .25 to a high of $4.75. Then, the insiders started selling in droves and shortly after, the CEO issued another pr just before the earnings announcement stating that sales were actually very disappointing in that Q and that they were going to show the greatest loss in company history. This scenario, believe it or not, took place twice with this company over a two year period. Both times, they flat out lied in pr and got away with it because there is no governing body over on the BB exchange. Today, this scam software stock trades for .03 and they've since filed for bankruptcy protection.

Unless there is solid, hard facts on a company, not just pr, I tend to avoid those outfits. I certainly missed out on MLRE's rise from $3 to $27, but it seems the rise was fueled by nothing more than rampant speculation than fundamentals.
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