Well..welll...I thought I would join the fray here and let everyone know that there is plenty more to this story and I believe..That we will see an arrest and I also believe the stock that has a market value of nearly 600,000,000.00 deserves to be exposed as the fraud and scam it really is..
Taking all assets into account I must say that I am disgusted but lets see what happened to my last bulletin board alert..recently...good old USAT::
Story followsL:
xxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Story 3 / 20: 99 <GO> for list of story options. Equity C N
Page 1 / 4
BN USA Talks Says It's Subject of SEC Securities Fraud Inquiry
Apr 1 1999 9:16
USA Talks Says It's Subject of SEC Securities Fraud Inquiry
San Diego, April 1 (Bloomberg) -- USA Talks.com Inc., whose
shares resumed trading in February after a two-week suspension by
the Securities and Exchange Commission, said it's the subject of
a continuing securities fraud investigation by the agency.
The investigation involves possible false statements by the
company about its business operations, the company said in its
annual report filed today with the SEC.
USA Talks, which provides unlimited long-distance telephone
service over the Internet for a flat fee, saw its shares soar
from a low of 5/8 in September to a high of 12 31/32 on Jan. 20.
The SEC halted trading on Jan. 20, citing questions about the
accuracy of public information about the company. The commission
on Jan. 28 approved a formal order of investigation.
In promotional materials it distributed in January, USA
Talks projected earnings of $16 million on revenue of $85 million
this year. It also said profit would rise to $43 million on
revenue of $227 million in 2000. President William Ervine made
similar estimates in an interview.
In today's report, it issued a revised forecast.Story 3 / 20: 99 <GO> for list of story options. Equity C N
Page 2 / 4
USA Talks projected operating losses for 1999 of $5 million.
It said its loss for 1998 widened to $6.1 million, or 11 cents a
share, from $1.8 million, or 4 cents a share. It had no revenue
either year.
The company's shares fell 1/32 to 3 7/8 at midday.
--David Evans in Los Angeles (310) 827-2348 through the New York
newsroom (212) 318-2300 jh
To hear 1/27 interview with President Ervine, enter USAT US
<Equity> CNAV.
Story illustration: To chart the recent performance of USA
Talks.com shares, enter USAT US <Equity> GPO D.
Company news: Industry news:
USAT US <Equity> USA Talks.com NI TLS Telecommunications
DES, BQ, CN NI SCR Securities
FTEL US <Equity> CN NI HWY Internet
Regional news: News by category:
NI CA California NI SEC SEC
NI DC Washington
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Things are not rosy here for HITT..I think it can be shorted with impunity and I cant wait for the funeral. |
