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To: afrayem onigwecher who wrote (63)	10/14/1999 1:05:00 PM
From: StockDung	Read Replies (1) \| Respond to of 924

financialweb.com -------------------------------------------------------------------------------- Electric City Corporation (OTC BB: ECCC) is practically telling investors it has the greatest invention since electricity itself, but it's not clear what the company is staking that claim on. Electric City manufactures and sells a piece of equipment it calls the EnergySaver, which supposedly can reduce lighting costs at least 20 percent by regulating "the power and flow, while reducing volts, amps and kilowatts to the exact amount of power needed to maintain your essential lighting needs by only allowing that specified amount of electricity to enter the establishment." Electric City says that the EnergySaver has been in use in Europe for 17 years, so you'd think there would be a wealth of information - financial and otherwise - for U.S. investors and consumers to examine. Not so. Aside from some extrapolation of pollution figures from the EPA and some spotty figures on trial runs, there are no hard facts or substantive studies. But there's been no shortage of hype. Besides the stock and warrants it has paid to promoters, Electric City has been issuing press releases at a brisk pace. Since April, Electric City has posted 28 press releases, including eight in July alone. Coincidentally (?) its share price has spiked recently, more than quadrupling between mid-June - when it was trading between $7.50 and $8 - and July 15, when it hit a 52-week high of $32. But it wouldn't take much to get these shares jumpin'. There are 11 million Electric City shares outstanding, according to the company. Of those, 1 million are in the float, which has turned over roughly twice during Electric City's recent rapid ascent. Without some SEC filings to read, or at least audited financials, investors might want to channel their energy elsewhere. As always, tread lightly……………………. The Stock Detective financialweb.com -------------------------------------------------------------------------------- For previous Red Light District columns, go to StockDetective Archives.

To: afrayem onigwecher who wrote (63)	10/14/1999 10:33:00 PM
From: StockDung	Respond to of 924

"That guy started the ECCCE thread! I believe he's a very reliable source of information indeed" Just between you and me, I agree that ECCC is definitely a scam. Someone I know was contacted by the promoter at one time to help with the promotion. He declined. He claims that ECCC has represented in their PRS to own the rights to their contraption outside North America, but in an SEC filing they disclose that they transferred the rights to an offshore entity, which is owned by many of the principals. cheers

To: afrayem onigwecher who wrote (63)	10/15/1999 11:39:00 AM
From: StockDung	Respond to of 924

To: flodyie (198 ) From: Hockeyfan Friday, Oct 15 1999 11:31AM ET Reply # of 199 Who has the rights to EnergySaver? Business Description Electric City plans to manufacture and sell its EnergySaver State of the Art Lighting Control Technology (hereinafter referred to as the "EnergySaver"), an energy management and savings system which utilizes the technology, in the U.S. under an exclusive license agreement. Electric City's activities to date have included raising capital, developing prototypes and installing test systems at test sites in the U.S. and the limited sale of systems. Effective May 24, 1999, Electric City entered into an agreement to acquire most of the assets of Marino Electric for a purchase price of $3,392,000 consisting of $1,792,000 in cash and 1,600,000 shares of Electric City common stock. Pursuant to the License Agreement dated January 1, 1998 between Giorgio Reverberi, the owner of the Italian patent on a proprietary device and proprietary software package underlying the EnergySaver, and Joseph C. Marino, a director and principal shareholder of Electric City (who sublicensed the rights to Electric City for use in the U.S.), Electric City must pay Reverberi a royalty of $300 for each product unit made by or for Electric City and sold by Electric City. Mr. Marino has transferred to Global Energy Ventures, an entity owned on a 50%-50% basis by Pino, LLC and NCVC L.L.C., his rights under the Reverberi license agreement to sell EnergySaver in Canada, Mexico, and portions of South America. Mr. Marino controls Pino, LLC and NCVC L.L.C. is an entity with which Kevin P. McEneely, Victor L. Conant and Nikolas Konstant are affiliated. Global Energy Ventures has not commenced operations. The directors and executive officers of Electric City are as follows: Joseph C. Marino 44 Chief Executive Officer and Chairman of the Board of Directors and a Director Kevin P. McEneely 51 Senior Executive Vice President, Chief Operating Officer, Secretary and a Director Michael S. Stelter 42 Vice President of Sales and a Director Victor L. Conant 52 Director Summary Electric City only has the rights only to sell the EnergySaver in the U.S. The right to sell in Canada, Mexico, and portions of South America were transferred to Global Energy Ventures, which is controlled by ECCC insiders, but not owned by ECCC. Misrepresentation by The Stockpage.com Electric City Corporation has the rights to the EnergySaver product across the United States, Canada, Mexico and South America. (Second Paragraph) thestockpage.com The Stockpage and its affiliates may provide promotional and marketing advice or consulting services to the companies profiled and may receive compensation in the form of cash and securities from such companies and consequently may be considered to have a conflict of interest. The Stockpage has received one hundred fifty thousand common shares (pre-split, July 29, 1999) and one hundred thousand warrants exercisable at four dollars (pre-split, July 29, 1999) from Electric City for this report.