Due Diligence - How to Investigate a Stock Message Board

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Strategies & Market Trends : Due Diligence - How to Investigate a Stock

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To: Lynn Goodman who wrote (233)	4/24/1999 2:13:00 PM
From: EL KABONG!!!	Read Replies (1) of 752

Lynn, "Vancouver refugees" is a reference to all of the scam promoters and crooks that have recently left the VSE (Vancouver Stock Exchange) and Howe Street for the greener pastures of the OTC-BB. Now that these guys are down here pushing their worthless paper, they're running all of their old scams with some slight variations. Instead of a junior oil or mining company, they now have an internet related business or something like that (whatever the "hot" sector happens to be at the moment; they re-invent their expertise literally overnight). One of the most telling signs is that the source of the company revenues is almost always in some foreign country (usually Asia or Africa) where investors cannot easily verify company claims, and facts are hard to come by. Having said that, I know nothing of the specific stocks you mentioned (IMOT, XNET, KYOM and ZIASUN). A couple of sure signs the stock is questionable is if their press releases constantly include references to larger, well-known success stories (something along the lines of "We believe the company can achieve the same level of success as e-Bay or MicroSoft, etc...) or something like this dubious phrase "The company acknowledges that there may be over 100,000,000 households in China that can use our product (or service) and if we can garner just 1% of that number that could translate into (insert inflated revenues and earnings numbers here)"... When dealing with companies on the OTC-BB, remember that the vast majority are bad investments, even for the short term. Many of those bad investments will turn out to be scams or outright frauds. The OTC-BB market is definitely buyer beware. KJC

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