I believe I now understand how SI often "works".
I do want everyone on the thread to know, however, that my interest in the company (with the Web site) was/is sincere as I am VERY impressed with the Web site and my intent in starting a thread was to generate interest and exposure for this company with a very novel use of the Internet.
If the Insight Entertainment in Jackson, Michigan does not trade on the OTC:BB as "ISTV", then I have no idea what the real ISTV corporation does, except that it certainly moves quickly on buying pressure.
Now that I re-read many of the messages I received, I am no longer particularly puzzled at how all of this happened and am quite certain of the party behind all of the confusion. I also understand some of the sudden aggression I received as well as other posters on the thread on the morning of the initial movement. I am still very puzzled, though, at the e-mail I received from the Insight Entertainment, Inc. based in Jackson, Michigan and am not clear as to their involvement in all of this. (I can still see how it could be quite innocent, though, as many people--even business people--have no concept of what the OTC:BB is or how to trade on it.)
I will post some of the pertinent messages below for anyone who is interested. Posting "private" messages is really not my normal practice, but maybe the situation warrants such a measure. I have already contacted the "Webmistress" to inform her of the situation. I hope that somehow this will work out well for everyone involved.
To: Micro-Selector (who wrote...)
From: Barginstocker
Tuesday, Jan 26 1999 8:49PM ET
I am in AIGI and ISTV
as for drawing investors:
"If I buy them, they will come."
I did a quick search on ISTV and some quick charting and also found the following posts on SI:
Message 7488167
Message 7507210
I then sent back the following message:
To: Barginstocker (who wrote...)
From: Micro-Selector
Wednesday, Jan 27 1999 12:08PM ET
What is your outlook on ISTV?
Impressive Web site, but hasn't moved since last spring. Any news releases forthcoming? Any "e-mail" promotions on the way? Do you plan to start a thread?
Please let me know, as I would love to buy in at this level if prospects are good and this is not just a sham.
Meanwhile -- AIGI is looking good!
I received no response but decided to pick up some shares on pure speculation (loving that unique Web site!). After checking on Raging Bull and Yahoo and finding nothing, I decided to start a thread to gather DD. I posted on the various Internet threads to try to generate information. I posted the little information I had (Web site and details) on various other boards to draw some interest.
I sent the following e-mail to the Web site contact address:
Subject: Insight Entertainment
Date: Wed, 27 Jan 1999 14:29:23 -0500
From: XXXXXXXXX
To: dwax@dmci.net
Hello:
I am an investor who specializes in small, start-up companies that trade
on the OTC Bulletin Board.
I am very impressed with your Web site and would appreciate it if you
could provide any basic investment information on your company (or refer me to someone who can provide this type of information).
For example:
Current Management
Brief history of the company (how/when was it founded, etc.)
Shares authorized
Shares outstanding
Public "float" (the amount of non-restricted outstanding shares for
trade on the BB market)
My plan would be to make this information available on the Silicon
Investor Web site (www.techstocks.com), which could serve to
significantly increase both the value of ISTV shares and exposure to
your company in the investment community.
Thanks in advance for any information you can provide.
Best regards,
(My name)
In the morning, I received an e-mail response from Dave Weatherwax. Here was his response. I still do not feel it is appropriate to post his home telephone number.
Subject:
Re: Insight Entertainment
Date: Thu, 28 Jan 1999 05:19:50 -0500
From: "Dave Weatherwax" <dwax@dmci.net>
To: XXXXXXXXXXXXXX
Dear XXXX:
I am the president and founder of Insight Entertainment. Jenifer Brautigam is the VP and co-founder. We began doing business as Insight Entertainment in August of '98. We thought that providing an electronic means of marketing one's music was a niche waiting to be filled, especially for those without web savvy, or start-up resources. So, we did it. I will fill in the blanks for you soon.
Please feel free to cal me at either work or at home
Dave Weatherwax
WKHM Radio: 517-787-9546 until noon EST
HOME: 517-XXX-XXXX
www.wkhm.com
I find it strange now that he did not mention anything about the company not being publicly traded and promised to "fill in the blanks" for me soon. That is why I am not sure of his involvement in the "confusion." I posted his message on the thread and the stock was moving up quickly so I picked up more shares. The interest and DD on the thread was coming in fast and seemed genuine. I was sincerely grateful for the interest and feeling pretty good about the whole situation. I hoped that for once some people (other than the standard "SI Mafia") could make a fortune on the BB by buying an "undiscovered" company they admired and believed in. The stock started to fly.
Then the aggression started to come in on the thread and I was floored. People sent me private messages suggesting I ignore it (since the person must simply have been annoyed that he/she missed out on buying half the float before the move). Anyway, I stepped to the sidelines and was dismayed by the whole scenario.
I have now sold all my position and have posted this message to simply put all the information I have on the table and assure anyone party to this "confusion" that my intentions were sincere and always are on SI. Yes, we all invest to profit. But my philosophy is that there is no need to lie or "confuse" when there are good start-up companies (or turnaround situations which are my favorite) to buy on sound DD.
I hope this helps to put some pieces of the puzzle together. I hope the real ISTV (if I do indeed understand the situation now clearly and there is not still "confusion") turns out to be a $1 stock for everyone holding shares and that people make good use of the thread to help each other out IN AN HONEST FASHION.
Best regards,
Micro-Selector |
