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 : CGCOC - New Web Portal
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Thu Ra Tin who wrote (11)1/29/1999 7:11:00 PM
From: FingerLakes  Read Replies (3) of 95
 
I called the company to ask about the halted trading and talked to the president, Edward Machulak. He basically said that he thinks the stock was halted just because of the high volume and dramatic price increase. He didn't seem too worried about it and said that he hadn't had contact with NASDAQ yet. He said that as far as he knows there are no problems with the press release or anything else.
I took the opportunity to find out a little more about the internet project. Commerce Group took one of their dormant subsidiaries, Picadilly. . . something, and renamed it Ecomm. This was based on management's decision that a change in business direction was becoming necessary. Mr. Machulak is a mining guy, and not very knowledgeable how to go about setting up a website. So the company hired a group from California to come in and work on setting up the various websites. This group is being compensated with 49% of the stock of the subsidiary. (I don't know what he meant, whether it would be 49% if the subsidiary is spun off, or whether a certain amount of CGCOC's stock is allocated to the subsidiary- I don't know how these things work.) But it is important to note that the tech group's compensation is directly related to the performance of their project. It is also important to note that he told me that the websites are nearly complete- they did not decide to hop into e-business yesterday. Ecomm is now in the process of finding advertisers, merchants, etc. and he implied that it would not be too long before the site is up and running. Don't even ask me to venture a guess as to exactly when! I forgot to ask him to specify that, so someone else can call and ask.
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