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Technology Stocks : Crys*Tel Telecommunications.com, Inc. (CYSS)
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To: mikekell who wrote (6)2/2/1999 2:49:00 PM
From: Frank Walker  Read Replies (1) of 338
 
Is this another "Pump and Dump" stock promotion from Vancouver ?

Anyone considering investing in this company should investigate carefully.

How can a tiny company like this, headquartered in Vancouver Canada, do business in Europe, Australia, and Asia ?

Vancouver has a few successful technology companies, but has many shady stock promoters, due to inadequate securities regulations and enforcement. In the past the promoters have listed their stocks on the Vancouver Stock Exchange, but now they are moving to the OTC and NASDAQ.

A popular ploy among Vancouver promoters is to claim to be doing lots of trendy business activity (like IP telephony) in far-off places, where it is difficult for North American investors to confirm their claims. They also like to gain credibility by announcing future deals with respected name-brand companies (like Nokia).

From Business Wire: "The first phase of Crys-Tel's network rollout, which has been in place and handling commercial traffic since November 1998, targets European international calling areas. Subsequent phases of the project will extend the network to include domestic traffic within European countries and POPs in strategic areas of Australia and Asia."

I don't have any position in this stock, long or short, but I have friends who have lost a lot of money in past years investing in Vancouver stocks.
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