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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: y2kfree_radical who wrote (51972)	6/20/2000 5:36:00 PM
From: StocksDATsoar	Read Replies (1) \| Respond to of 150070

INVT moving, picked some up, check out this article: Unbiased Reporting on Over-The-Counter Bulletin Board Companies Are Market Makers In Trouble With INTV Short Positions? By Jack Burney 06/16/2000 08:15 AM CST Investors charge that Market Maker tactics to profit greatly from shorting an OTCBB stock are backfiring. MMs may have short positions totaling 9-million shares they can?t cover, and have reportedly taken desperate steps to avoid financial catastrophe. The stock in question is InvestAmerica, Inc./Optica Communications (OTCBB: INTV), and Investor John Hight says MMs ?are holding this company hostage.? Certain MMs approached INTV last December, Hight said, ?to make a deal for INVT to sell them millions of shares directly to bail them out of their short position.? INTV got SEC permission and offered to issue MMs shares, but above the then-market price. ?Why dilute the float of his company to bail out crooked, stupid MMs?? Hight said. ?the MMs wanted shares at a big discount to bail themselves out, so a standoff ensued. The popular belief is that ever since March, MMs have been trying to strangle shares out of investors to cover their large short position (under $2) and to punish INVT.? Hight?s cursory review of trading activity in INVT -- especially over the last 30 days -- shows that MMs are not making a "market", they ARE the "market". The irony of it all: ?No matter how low they drive the price, new buying comes in to bury them deeper. There has never been a technical sell-off day in INVT that I'm aware of -- and I watch it daily,? Hight said. Here is a fiber optics networking company whose stock is being grossly manipulated downward by MMs who are naked-short some 9 million shares which they accumulated late last year. This short position, the company claims to anyone who telephones them, is responsible for the company's stock not trading on the Frankfurt Exchange despite having successfully listed there some 3 weeks ago. The company claims that MMs refuse to sell shares to Frankfurt because Frankfurt is prohibited from trading shorted shares. The sellers must, by law, possess certificates, and the MMs don?t have them. Some accuse MMs of deliberately trying to choke INTV to death. With the bizarre trading activities going on ? large buys at ask, sharp stock price drops ? manipulation is about the only explanation. Investor Michael McKay would like ?to throw INVT into the ring of severely manipulated stocks. This stock almost hit $12 and now rests at $1.40. A buy yesterday of 386,000 shares did not even move the ask price.? Investor Elaine Hill complained of bashers and blatant manipulation of INVT stock. ?Shareholders have been frightened into selling by false and misleading posts on message boards and price manipulation of this stock.? Investor William Henning says ?INVT is very heavily shorted and the stock is taking a dive.? There?s more to this story, and OTCNN will continue to pursue it. But one thought surfaces inevitably. With stupid tricks like this, the MM image of shrewd behind-the-scenes geniuses is rapidly fading. Are these guys so dumb they can?t make an honest buck? Private Placements About Us Letter To The Editor Contact Us Advertise SEC Filings Search by: company ticker symbol Corporate Contact Telephone Numbers InterVoice-Brite, Inc. World Headquarters 17811 Waterview Parkway Dallas, TX 75252 Corporate Headquarters Switchboard (972) 454-8000 Sales and Marketing (800) 700-0122 Investor Relations (972) 454-8950 RealCare Support (800) 955-4688 Sales Fax (972) 454-8676 Resume Fax (972) 454-8408 Executive Fax (972) 454-8781