Where are they now? December 1, 1999
ZiaSun ZSUN 4/28/99 $11.07* $10.56 -5%
Besides launching its high-pressure sales organization - Online Investor Advantage - Downunder, ZiaSun made some interesting claims on its latest filing with the SEC. What really stood out in the company's 10Q was the $14 million value it put on its goodwill. ZiaSun attributes this figure to its acquisition of Online Investor Advantage and Asia4sale. "Goodwill is the book value given to the difference between the purchase price and the estimated fair market value of the net assets of OIA and Asia4sale," ZiaSun said in its SEC filing. The company also got an endorsement from Security Capital Trading, run by Ray Dirks, which issued a strong buy recommendation. Whether ZiaSun paid for the write up is not clear.
* price adjusted for 2-for-1 split on 5/24/99
financialweb.com
12/1/99 7:44:00 AM Where are they now?
by The Stock Detective
Where are they now? December 1, 1999
The following table lists some of the companies which have been featured as "Stinky Stocks" on Stock Detective, and provides a quick update of these companies' latest shenanigans. Stock prices are as of the market close on November 30, 1999.
Click the company name to view the original Stock Detective report.
Company Symbol Date Featured Price Current Price Change
Cy Post POST 9/24/99 $11.68 $4.03 -65%
Chalk up a fifth Internet acquisition for this company, whose primary focus is data encryption. However its subscriber base still numbers only around 20,000, and another deal - a proposed merger with Group West Systems Ltd., - was called off after Group West's due diligence determined it was "not in the best interest of the shareholders to merge with Cypost." Also, investors are still waiting to look at the company's most recent financial info, the substance of which is being held up by a late third quarter filing with the SEC.
MSU Corporation MUCP 6/19/99 $5.50 $2.88 -48%
A management shakeup a the top, plus a less-than-gangbusters showing at Comdex raises a lot of questions for this television-top web access company. Can new faces revitalize what has already been resuscitated at least once? Will another company beat them to market, since Web2U will not be in stores for the Christmas rush? When the product is ready for market, MSU recently announced it has formed marketing alliances with two U.S. firms.
ZiaSun ZSUN 4/28/99 $11.07* $10.56 -5%
Besides launching its high-pressure sales organization - Online Investor Advantage - Downunder, ZiaSun made some interesting claims on its latest filing with the SEC. What really stood out in the company's 10Q was the $14 million value it put on its goodwill. ZiaSun attributes this figure to its acquisition of Online Investor Advantage and Asia4sale. "Goodwill is the book value given to the difference between the purchase price and the estimated fair market value of the net assets of OIA and Asia4sale," ZiaSun said in its SEC filing. The company also got an endorsement from Security Capital Trading, run by Ray Dirks, which issued a strong buy recommendation. Whether ZiaSun paid for the write up is not clear.
* price adjusted for 2-for-1 split on 5/24/99
ImaginOn IMON 2/26/99 $5.93 $3.22 -46%
The company filled two top management positions in November, but what effect they'll have on the bottom line is still unknown. Meanwhile, ImaginOn's flagship product, the WebZinger search engine, continues to seek an audience. The product's first ad campaign, targeted at college students, ended in mid-November. The company has not released information about its impact on sales, although it did say traffic to its site and free trial WebZinger downloads picked up during that time.
Millionaire.com MLRE 12/30/98 $21.63 $2.50 -88%
Lots brewing on the auction circuit, with Millionaire.com's founder facing a lawsuit, while the company pulled out of a merger agreement and appointed a new board of directors. Millionaire.com's founder, Robert L. White, is being sued by the Robb Report and Luxury Media Corp., which allege that White has misused the Robb Report name in solicitations and advertising for Millionaire.com. White founded the Robb report, but sold it in the mid-1980s. He still makes reference to his role as founder, but denies the lawsuit's allegations. Also in November, Millionaire.com decided to rescind a merger agreement signed in February with the Great Gatsby Auction House, after that firm failed to live up to certain terms of the deal. Finally, the company's new board of directors is heavy with in-house talent. Of the board's six members, at least four are also officers of the company.
PinkMonkey.com PMKY 12/03/98 $13.50 $2.00 -85%
Well, the new site is up, but it's still sorely lacking. As for content, we're not sure who is going to trust their final grade to this one. But some curious folks are bound to give it try since, for a limited time, membership and downloading of its crib notes are free.
Great White Marine Recreation Inc. JAWS 10/29/98 $2.22 $0.20 -91%
Great White's former president, Colin Smith, has disappeared, according to attorneys who have asked a judge to let them withdraw as Smith's counsel in a defamation lawsuit. Smith may be focusing on other legal issues. According to the SEC a federal judge in Texas has ordered Smith jailed for contempt until "(1) he provides the accounting of funds that Judge Smith had ordered previously and that is to detail, among other things, all funds received from investors or sales of stock and disbursed by Mr. Smith and the company, or (2) he posts a $100,000 bond." The SEC has accused Smith and Great White of selling unregistered securities "through false statements in press releases, in promotional brochures, in Internet website postings and in a Form 10-SB filed with the Commission." Great White and Smith are suspected of raising at least $10.8 million fraudulently. Smith also is accused of diverting $3.5 million to his own uses, while Great White allegedly used $1 million to keep a Ponzi scheme afloat.
DNA Medical Technologies DNAT 08/31/98 $1.03 $0.03 -97%
No word on whether a scheduled shareholders meeting was ever held. This company appears headed for empty shell status.
Rhombic Corp. NUKE 06/22/98 $0.94 $1.94 106%
Rhombic is getting some PR in Germany, where it recently received a "buy" recommendation from Stockreporter.de. Stockreporter says it is not paid for its recommendations, although it sometimes charges "administrative" fees to clients. Meanwhile, stateside, Rhombic has hired promoter StockProfiler.com to sing its praises. Rhombic paid 150,000 restricted shares, and 200,000 warrants (half exercisable at $0.50, the rest at $1) for a profile.
Platforms International PLFM 05/20/98 $0.92 $0.31 -66%
The rumored boot has been given to founder and former president/CEO, Howard Foote. Foote is now president emeritus, but remains as vp of technology operations and a member of the board. The new president says the company will refocus on its airborne relay communications system, rather than competing to build the next generation of Space Shuttle or meddling Defense Department issues.
ProNet Link PNLK 05/15/98 $6.37 $2.78 -56%
Well, if C-SPAN isn't boring enough, ProNet Link is promising some live coverage from the World Trade Organization summit in Seattle. Why time and resources are being devoted to a broadcast division for a company that says it's a data provider is hard to fathom.
Eventemp ETMP 05/06/98 $0.00 -100%
Delisted August 1998.
Zulu-tek ZULU 03/25/98 $5.40* $0.07 -99%
The deathwatch continues as investors left holding worthless shares begin a pool on when, exactly, Zulu will be considered empty enough to start the shell game all over again.
* price adjusted for 1-for-10 stock split effective Dec. 31, 1998
Saf-T-Lok LOCK 02/27/98 $3.66 $1.31 -64%
Sales have plummeted from a year ago, according to the company's most recent SEC filing. For the three months ended Sept. 20, Saf-T-Lok reported $14,435 in revenues, down from 145,243 during the same period in 1998. The company is still under investigation by the SEC for possible securities law violations.
B.A.T. International BAAT 02/07/98 $1.63 $0.06 -96%
You've got to hand it to B.A.T. president Joe LaStella, he never gives up, especially when it comes to generating hype. One of B.A.T.'s latest attempts to drum up interest was a press release trumpeting its valiant efforts to fight off "corporate raiders." However, since this is a company that manufactures bullet-proof vehicles with plastic windows, we're pretty sure we know the outcome of this "battle."
CopyTele COPY 02/06/98 $2.25 $1.00 -56%
After spending more than 25 years and $45 million developing and marketing the next generation of copier/fax/phone (none too successfully, we might add) CopyTele now says it has the low-cost answer to encryption for all of those devices.
--------------------------------------------------------------------------------
- |
