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Microcap & Penny Stocks : Genesis Media Group, Inc (GNNX)
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To: ajs who wrote (2926)5/6/1999 10:49:00 PM
From: Ted M  Read Replies (2) of 3129
 
Very good question. I can only speak for myself, although I will say that Tom and Mike have never given me reason to doubt their genuineness and have been around pretty consistently for many months (Tom longer I think).

Anyway, as for myself, I actually never want to forget my bad experience with GNNX. I want to remember because I think it was a valuable lesson. It was one of my first experiences with a OTC BB penny stock, and I actually count myself lucky that I didn't put a lot into it, but also that I hung around to see how the many stories (although I got in for the expected gigantic payoff of the telecommunication contracts) played out. None played out. I came to believe that management misled the public greatly and deliberately. I have been more cautious and less trusting with OTC BB penny stocks since then, and consider that to be an advantage. It seems much easier to make money on these kind of stocks in the short run than the long run. I still want to believe, but am much more wary of 'big deals' now.

I honestly didn't realize that companies can get away with so much scott-free. It really is buyer beware in the BB world.

I occasionally post 1. to warn others to be cautious 2. because this thread and the 'stories' of GNNX continue to be interesting to me and 3. to perhaps contribute to keeping the price in check so that unscrupulous people won't profit off of the more trusting ones out there.

Later, Ted





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