As Chelekis has stated: He doesn't need a front man. The ADVR ADGI gang use the allegation simply as a means of taking the focus off of the companies. Chelekis admitted he wrote what he was told without checking the veracity of what he was told. He wrote an article, above, retracting the information to his readers prior to the SEC charging him. You can read it all on the AOL boards,(better be quick, they are being purged) if you are interested.
Subj: Fact versus Fiction
Date: 96-12-06 02:05:11 EST
From: CHELEKIS
Elliott Bauer paid $8800 to Hot Stocks Review, in two installments, in February and April 1995. He represented himself to me as a "large shareholder who wanted to get the word out about ADVR." He felt that 20/20 had done a "black number" on ADVR and he loudly complained to the ABC network for that coverage. He showed me the letters and how they had nuked this company. His bait was that one of his closest friends had died of AIDS. I have never met Elliott again, since February 1995. I have spoken to him a few times.
I neither charged nor was paid to write about ADGI. The reason I wrote about ADVR a second time in print and several times on my Internet email Hot Stocks Whispers is because the readership response was phenomenal on ADVR. It appeared that the coverage I provided on this company was reassuring to many who got and read my first article. I felt that the ADGI story also sounded good, so I gave it free coverage.... as I very often do on very good stories which I do like.However, ADGI's plans never materialized after the initial hype I was fed, so I discontinued coverage.
Such rumors that I am User, Smartie, Reds, Thespian, etc. are complete falsehoods. I have no need to hide behind some anonymous identification. Also, I have no connection with, nor have I ever had a connection with, SGA Goldstar. Early on, when we first started Hot Stocks Review on the Internet, SGA approached me to hotlink to our website. We refused to have any relationship with them and told them so. I don't know what they are really up to, but I heard enough from my publisher at Bull & Bear Financial Report about SGA to avoid them altogether. He can be phoned at 800-336-BULL (yep, BULL). However, he's in San Francisco at the IIC Gold Show, until next week, so you'll have to wait until then to phone him up.
Regarding being a stock promoter. More recently, I have taken a severe attitude to reviewing companies in our paid corporate profile section. Recently, I nuked three out of the 12 companies, including Imagica (OTC BB:IMEA). I suppose they are upset about my review, but their story doesn't look very strong for 1997-- quite the opposite of what Mark Schultz portrayed in his review of IMEA in the September issue of Individual Investor. The WAACO KID, who publishes at this email address (nymg@pipeline.com), can verify my shift in attitude, which began last Spring. Hot Stocks Review has led the parade on honest communications and full disclosure of the relationship with the featured company. This can also be verified at the Hot Stocks Review website (http://www.hot-stocks.com).
Regarding ABC Network television and the 20/20 story on ADVR, I believe that ABC's error was in not digging DEEP enough into the ADVR story and just glossing over on their reportage. Had they dug deeper, as many of you have, then perhaps the current promotion of ADVR might not be going on at all.....
FINALLY, one would think that if the stock promoters were SO desperate as to commit copyright violations, make all kinds of wild claims, etc. that there might be something WRONG with their story. On that basis alone, not on whether reticulose works or not, one should see the writing on the wall. Yes, a good story has to be told and told and told. However, falsehoods, hyperbole and reckless unfounded statements have no business in either reportage or stock promotion. They only harm the innocent, unwitting investor, of which there are far too many to ever count on a calculator. You all should read my last two essays: DIRTY ROTTEN TRICKS and THE DEADLY ART OF STOCK MANIPULATION. Both are available free of charge to read, on the Hot Stocks Review website. Have fun.
I hope I have answered all of your questions. Now, I can get back to having a life, huh?
Best, George Chelekis |
