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Microcap & Penny Stocks : GIFS -- Ignore unavailable to you. Want to Upgrade?

To: tonto who wrote (7853)	10/17/1999 8:51:00 AM
From: tonto	Read Replies (1) \| Respond to of 8012

The SEC listens. 15c 2-11... From the SEC site: Subject: File No. s7-3-98 Date: 4/23/98 5:29 PM URGENT E-MAIL:JOHNATHAN G. KATZ, SEC Mr Katz,,I was a victim of Bulletin Board stock scam with Genesis International (GIFS) in which I lost my entire life savings of $64,000.00. I'm 57 years old and not far from retirement. There is no way I will be able to continue to live just an average quality life with this savings be lost to scammers, market makers, crooked news letters, and on and on I could go. Unfortunately I picked the wrong stock a year and half ago (GIFS) if the SEC was regulating the (OTC:BB)(GIFS) with the same guide lines and requirements expected of the NYSE, AMEX, NASDAQUE exchanges I would very likely still have my $64,000.00. The way it is now I see nothing but poverty and hardship in my retirment years because one company was allowed to continue for years (GIFS) scamming hundreds of investors out of millions of dollars. GIFS was allowed to stay in business for a very long time with the CEO at the helm being an exconvict MOHAMMED ZAYED and his PR (IR) man MIKE RHETORIK once being in hot water for some sort of securities violation. I know a man in Texas that was going to be a doctor (medical student) who was totally wiped out by the same company (GIFS). Yes,,,Market Makers should exercise more care in the stocks they choose rather than just selling anything that comes down the road without some due diligence as to the potential quality of the instrument they are peddling. MARKET MAKERS SHOULD KNOW THE SECURITIES THEY TRADE. I feel the SEC should direct protection towards the investing consumer NOT the potential "not give a dam" Market Maker. In these days and times more and more people are investing than any other time in this Nations history. If regulations protecting both investor and broker are in affect our Nation, investors, as well as brokers well all be better off. Thank you XXXXXXXXXXXXXX XXXXXXXXXXXXXX XXXXXXXXXXXXXX