GLOW - Global Games, Inc. - Great Profit Potential ! Message Board

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Microcap & Penny Stocks : GLOW - Global Games, Inc. - Great Profit Potential !

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To: Lucky Lady who wrote (8648)	2/12/1999 11:12:00 PM
From: Thomas George Warner	of 8879

The sad truth is that you really believe what you are saying. People get hurt by the things that you and people like you post. Do you think this is bashing also? The musical chairs have stopped and there is no place to sit down. www2.startribune.com Global Games ordered to stop selling stock in Minnesota Pat Doyle / Star Tribune A Minneapolis firm that has raised money to make software for Internet gambling was ordered Friday to stop selling stock in Minnesota. GlobalGames Corp. sold Minnesota residents securities that weren't registered with the state Commerce Department, the department said. Stock offered for sale in Minnesota must be registered unless exempted by state law, which GlobalGames was not. A department investigation also concluded that those who sold the stock were not licensed to do so. Minnesota Commerce Commissioner David Jennings on Friday issued the order suspending the sale of stock to Minnesotans, pending a March 4 hearing before an administrative law judge. The order is the latest problem facing the company, which has more than $1.6 million in judgments against it for failing to pay loans and other debts. The U.S. Securities and Exchange Commission is reviewing those cases. Global has been trading for under $1 for the past year, but its stock rose in recent months amid upbeat postings on its Web site touting its association with a virtual casino on the Caribbean island of Dominica. Global said last fall that the casino was beginning to make money, but it can't pay most of its creditors because it was funneling profits back into the business. The order also named Garry Jamieson, a former CEO of the firm, as having violated a Commerce Department order in 1996 that cited the sale of unregistered securities. "GlobalGames failed to disclose the 1996 administrative action, as well as outstanding civil proceedings and civil judgments, in the course of the offer or sale of its securities," the Commerce Department said Friday.

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