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Microcap & Penny Stocks : SPDE (nee CVUS)-- the scammiest Internet stock -- Ignore unavailable to you. Want to Upgrade?

To: sydney who wrote (110)	4/12/2000 7:08:00 PM
From: SBHX	Read Replies (1) \| Respond to of 114

sydney, I want to be very careful here. The statements below are just my personal opinion based on materials I have in front of me. It is a description of my experience as a brief investor in SPDE. Use for entertainment purposes only. ----- I don't profess to be an insider. I am not an insider, perhaps a cynical skittish investor who is very careful about his bets. I came across spde as part of my regular 'scan' of stocks --- the low P/E in wireless stuck out like a beacon. I happened to look for wireless stocks with low P/E, and there was SPDE. In my first phase, I get my toes wet by buying a small chunk of the few stocks that I like. I do this roughly every month. But as it was at a busy time in my schedule, I did not have time to do any actual DD on SPDE, but the stake was small, so it was no big deal. This has worked well for me for a while, and is my preferred strategy. Then the big runup after the barron's mention happened and I bought more, (my SOP is to buy more if a stock goes up). With that increased level of exposure, this started phase2, I'd sit down and do some more detailed DD on why I should buy this stock, as you can see from the CANSLIM I did with my 1st posting here, the financials are not as healthy as a brief look indicates : they come from sale of old assets and Bandwidth. The revenue and earnings in the financials are perhaps the most damaging items in the analysis. From the original news release (I can't find it anymore), SPDE CEO, Shant Hovnanian spoke in glowing terms how SPDE was a partner with PALM, and I believed him, that was the one thing that almost made me stick it out. (It was logical, since PALM with a competing OS can't possibly work with mobile.msn.com on the PALM.) Almost. At the last moment, I decided to get out and sit this one out. However, the rapid drop in spde made me look closely at it, hoping for an indication of the pending PALM tie-in. It never happened, and never will as far as I can tell (I could be wrong here, I'm just saying this is the facts in front of me right now), it appears that PALM does not have any partnership agreement with spde other than as a registered developer, which anyone could do. I was of course relieved that I trusted my initial instincts, but in my own mind, I thought of myself as a somewhat experienced investor, and I felt silly and angry to have been misled (IMHO) by the PALM news release by SPDE. That is the motivation for my post. In case you're wondering, I have never shorted any stocks, and don't see any reason to do so. In fact, I scanned for any info on hovnanian on the net, and came across several references to how the Hovnanian family started in real estate and was very active in the armenian community, with a school named after them. I did not find any references to involvements in any banks or other financial institutions, like some of their detractors claimed. I did all this only because I try very hard to understand the companies I invest in. That's as much as I know. Sorry if you think I was claiming to be an insider. I am not. This should clear it up. Anything below this is not written by SbH ------------