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Microcap & Penny Stocks : HITSGALORE.COM (HITT) -- Ignore unavailable to you. Want to Upgrade?

To: Q. who wrote (4965)	1/17/2000 11:00:00 AM
From: Jeffrey S. Mitchell	Respond to of 7056

You see, the people who do that kind of financing are interested in getting their money out in much less than a year. 90 days is the norm, maybe 60 in some cases. But you forget one thing: companies that do toxic (floorless) convertibles don't wait the full restriction period. They short against their stock from day one. Oh, excuse me, they allegedly short against the stock. The fact the stock rolls down a hill after that is just coincidence ;^). Furthermore, by the time the funding is announced to the public, the stock price has already taken a major hit. Given that, it truly is interesting that HITT hasn't found a suitor by now... or have they? - Jeff

To: Q. who wrote (4965)	1/17/2000 12:11:00 PM
From: Daniel Chisholm	Read Replies (1) \| Respond to of 7056

Dee-bar, would you give millions of dollars in cash to someone who served time in federal prison for fraud, and give it to him right now, on his assurance that in the future he will do certain things for you? You're pretty damning in your risk assessment - but I think you've hit the nail on the head. Even amoral vultures want their money back. Presumably they would do extremely careful DD before advancing money to a former (?) con man. - Daniel

To: Q. who wrote (4965)	1/19/2000 12:33:00 AM
From: Tom Terf	Respond to of 7056

D bar - the Foley Group was configured as a toxic floorless denbenture arrangement. But even these crooks didn't have the courage to muster up $ 10M of real cash to invest into this turd. Sure, $ 10M would get them about 50M shares in floorless stock. But with no liquity, the shorting process doesn't work...so the cash from the short sales are too low to lay off against the original investment. HITT was too far gone for them ..in other words. Interestingly enough, many people don't see what Dorian & Co gain when HITT finally falls to zilch. I suspect the last 9 months or so are just a cover. The real bucks were already made by him shorting this turd from $20 in early May 1999. He could always issue the PR about himself being an ex-con to kill the stock if it went higher after his shorting spree. Luckily, Bloomberg beat him to it -- or did they ? Perhaps he provided the leak ? If he's tired of issuing phoney press releases which is all the Company ever did, he can just let 'er go BK and retire. The opinion expressed above are the opinion of the author and may or not be 100 % accurate. Use your own judgement in deciding whether to invest in this garbage stock.