To: Fact4 who wrote (30 ) 6/12/1999 1:34:00 PM From: JBH Read Replies (2) | Respond to of 45
Latest e-mail from IR and one investors thoughts from RB 6/12/99 By: auditproof.com Reply To: None Saturday, 12 Jun 1999 at 12:54 PM EDT Post # of 2324 IMPORTANT NEWS!! Here is the response I received back from Kenneth Eade's office(Read My Thoughts After Reading): A complaint was filed today in federal court, CAse No. 99-06010RAP. The Judge, primarily because of the fact that an administrative stop order is in place already, set the matter for heraing on the preliminary injunction for June 28, 1999. With regard to your particular question about market makers enforcing the stop order, I cannot speak for them, except to say that we have advised the DTC and all market makers of the stop order. The stop order is enforced by the transfer agent when the certificates come in for transfer. The stop order can only remain for 30 days. The court will decide whether or not to extend the restriction on transfer until the case is resolved on June 28, 1999. I've seen some posts about what this response and what it means and how it will effect the price of the stock next week. Here it is plain and simple: The judge validated the stop order which means the stop order for the trading of these shares are in full effect and should not be traded by the MM's anymore within the next 30 days, which is the expiration date of the stop order. To make sure of this they have contacted the DTC to make sure that the transfer agent enforces this stop order when the certificates come in for transfer. There is a hearing date set on June 28 for the injunction to finalized the rescind order on the shares. The reason they put the stop order in place is because of how long it would take set date for that hearing and so the MM's can't continue to try to cover with shares that they don't own. This is great news because that means that regardless what the ruling is at the hearing on June 28, they can't continue to try and float on those shares by dragging out a long court case which could give them time to recover by continuing to play their games. The most important thing to remember on all of this is that this without a shadow of a doubt confirms that the MM's are in seriously short on their shares or it wouldn't have even come to this. Why would they want to go to court to fight over the right to trade shares of a penny stock unless they were seriously short. This can be further confirmed by looking at the games the MM's have been playing with this stock such as the huge gap most of time between the BID/ASK price and moving up the BID price at the end of each day to entice people to sell their shares. Folks, here's the deal! The can't trade these shares anymore covering trying to cover their selves or they will be violating a validated court order to stop trading. Rest assured that the SEC will come down on them hard if they do. As of Monday this thing will take off if there is any kind of volume at all. Our job is to get the word out and creat as much volume as we can which forces them to keep raising the BID/ASK price without them playing their games. If you consider the domino effect this will have with momentum it could get extremely interesting within in a very short amount of time. What we have here is very rare a solid company with great leadership and big plans, a stock that has NO FLOAT left and a strong established foundation price that is a steal. Any one of these three ingredients would drive a stock, but with all three at the same time this thing is going to skyrocket provided we pour it on them! I have urgent messages into Skip in Investor Relations and Kenneth Eade's office for additional information and if I hear from them I will post immediately. Spread the word & buy as much as you can afford if you've done your DD. Good Luck and let's make some money! (Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy)