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Strategies & Market Trends : Wayne's HIGHLY SPECULATIVE STOCKS -- Ignore unavailable to you. Want to Upgrade?

To: Wayne Rumball who wrote (426)	6/10/1999 12:18:00 PM
From: Gordon Gekko	Respond to of 486

I looked through the web page, but could not find any sign of a special note posted at 4:13pm. This is totally bunk and is magnified by how the MM's are pricing the stock. I am writing my complaint now. GG

To: Wayne Rumball who wrote (426)	6/10/1999 1:53:00 PM
From: Gordon Gekko	Respond to of 486

Here is a copy of my complaint. On 6/9/99 3:46pm I purchased 5000 shares of PCTG for a price of 49 cents. I purchased this stock for a very specific reason. I learned that this security was doing a 60 for 1 forward split effective on 6/10/99. The company was also changing it's symbol from PCTG to PCTGD. Any splits or name changes are reflected on the daily update section of the OTC BB web page the day before. I took this information as accurate and verified it with the the exchange. This split information was posted around 2pm est. As it turns out this information was not accurate. The company was in fact doing a reverse split 1 for 60. If I had known this I would not have purchased the security. The OTC BB exchange claims the company called them after the close and decided to change from a forward to a reverse split. The exchange also claims they put out a special note at 4:13 pm notifying everyone of the change and was available on the web page. I have searched the web page high and dry, but have not found anything relating to a change. The daily update from 6/9/99 still shows a forward split with no hint of a reverse. Even if a special update was on the web page it came out after the close so it would of been no value. Right now I am sitting with 83 shares. The situation is magnified even more with the current market maker's bid of 25 cents. My $2,450 investment is now worth $20.75. The bid before the reverse split was 40 cents so the revised bid should of been $24. I believe the OTC BB exchange exhibited gross negligence in the way it handled the split of this company. Upon learning of the split change after the bell they should of rescinded the effective date of 6/10/99 and changed it to 6/11/99. Individuals or institutions purchasing PCTG on 6/9/99 were basically buying that security under false pretenses. Given that the situation changed dramatically after the bell they should realized this and modified the effective date so as to give investors and the like a notification period.