<<Who are the Sands Brothers? I know them from another story, which I did not like very much.>>
My impression is also unfavorable. They're a small investment banking outfit that brought FONE public. They've had dealings with a bunch of crummy companies in the past and they show up in a lot of filings of past short selling favorites, e.g. QGLY, CELL, SMCH, TURF, etc. I didn't spend a lot of time looking into this, but as another example, NOOF recently filed a registration statement on form S-3 and mentions the threat of delisting for failing to meet the net tangible assets criterion- anyway, NOOF is suing Sands at the moment:
<<On October 3, 1997, the Company filed a Complaint in District Court in Boulder, Colorado (Case No. 97 CV 1428) against Sands Brothers & Co. Ltd. alleging breach by Sands Brothers of the terms of a financial consulting agreement with the Company. The Company also alleged fraud in the inducement, and is seeking return of its initial payment of $25,000 to Sands Brothers and rescission of the agreement. Sands Brothers has filed an answer and counter-claim to the Company's complaint, and the Company has filed an answer to Sands Brothers counter-claim. The Company intends to vigorously pursue its claim
against Sands Brothers and believes that Sands Brothers' counter-claim againstthe Company is wholly without merit.>>
And Mary, have no fear; much to my regret I've been all long and fully margined these last couple weeks, much to my regret!
:-0
Anaxagoras |
