SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : PRTI
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: John Rowe who wrote (393)5/29/1999 3:52:00 PM
From: raydit  Read Replies (1) of 424
 
A somewhat similar situation to PRTI is the Trinity Gas (TRGC) fiasco in Texas. There is a Techstocks thread. It seems that once one could not float a public stock offering without a red herring and a prospectus in accordance with state and federal regulations. Nowadays all that is necessary is a filing with a secretary of state, a Nasdaq symbol, and a glowing press release or posting on the Internet. We are back to the 1920s in spades.

Some lawyers are raking it in. I saw in a TRGC posting that one receiver in the TRGC aftermath collected $600,000 for a few months work.

Another company that is operating similarly to PRTI is a Redmond, Washington outfit named Interactive Objects (OBJX). The principals, I believe, picked up a Nasdaq listing by issuing stock for a corporate shell in Salt Lake City. The stock began trading on a glowing Internet posting and the stock ran up from about 1 to 10, then back to 1 again. Some principals left; the company paid them off to cancel their stock options. OBJX does file some SEC reports, but they do not issue reports to shareholders or have annual meetings. They have no product sales and live off news releases posted on the Internet. Shares outstanding are in the tens of millions. Isn't this high tech environment great?
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News