Charles, you can do with your money whatever you wish, including but not limited to replacing your Charmin with it.
I've held the position that something smells about this operation and have brought up facts and issues and questions which support that notion.
Until I see evidence that there's nothing to suspect I'll continue to dig and publish my findings. You can do with them whatever you wish: deride, ignore, be contrarian, I don't give a hoot.
But here's a for instance for you: Stockett just increased the shares outstanding for HTEH by more than 100% with this Benefits Administration deal which he has loudly trumpeted on the newswires and now on the web by another's post. Do you know what BAI does? Do you know what their revenues were for 1996 and their net profit? Do you know why they were worth mega-millions based on HTEH's closing price yesterday? Maybe his actions with HTEH don't mean anything to you since your investment is with SNCG, not HTEH, but of course he controls SNCG as well.
My only question to you (rhetorical at that) is, if you knew (and this is not a proven fact as of now) that SNCG was essentially stealing the data (taking but not paying for it) to support FlexQuote would you still feel that your investment was a good one, "good" in more than just the $$$ and cents viewpoint? And if SNCG had thus hidden a significant set of liabilities once their peculation (suspected) came to light, would you still feel that it was a "good" investment from *any* viewpoint? And if it is true that the data were purloined and you made good use of the product which had that flaw, would you be just as happy with the product because it only cost you $9.95?
Re the stock getting back to $5, or any price for that matter, that's a separate matter because the trading patterns that elevate the stock are potentially the result of manipulation. You've read the treatise on how the dishonest MMs and manipulators do it and why. So far there is nothing to show that SNCG has made a profit in the last quarter and there is the very real possibility that prior results will have to be restated again if they have a substantial liability to the exchanges for data service that was not paid for. I can tell you with absolute assurance that NASDAQ had not been paid and had tried repeatedly to get Sinclare to respond without any results. They do know that Stockett has taken control of the company and even though he's maneuvered Kitt into the Board Chairmanship there's no reason to disbelieve that Stockett is running the show as Pres. & CEO.
Here are questions I've asked Stockett (no reply to date):
why did Sinclare have claims against it by 5 international investor groups? What were the claims for, how much were they for, was there merit to the claims (must have been because why settle with millions of shares otherwise), and when did those claims arise, meaning in what quarters? How will they be accounted for - in accounting terms - in the financials? When will shareholders of SNCG be given the information about these extraordinary events, information they are entitled to under the 1934 Act? Why was Hightec stock issued to those 5 investor groups when HTEH had nothing to do with the acts of SNCG which prompted the claims?
As a publicly owned company all of that information must be revealed to shareholders and the public at large - but there is no revelation to date except the announcement, listed in the press release, that the settlement had been made.
Clearly Stockett is playing with SNCG as if it is entirely his to do with as he wishes, that "control" has alleviated him of his legal and fiduciary responsibilities to other shareholders as defined by law - so it seems to me.
It doesn't matter that it is or was a two-bit stock (in $ terms); the law is the law. And given the consent decree he lives under, well, let's say he should err on the side of caution in my view, but that doesn't appear to be the case here.
Have you checked out the BAI site? Have you tried calling the 800 number and keying in the code the site instructs you to do? What happens when you do that?
More on BAI later. One last questnion, Charles - are you impressed by the $250 million backlog mentioned in the PR? If so, why?
Dee Jay |
