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To: Jeffrey S. Mitchell who wrote (395)	6/29/2000 11:23:38 PM
From: StockDung	Respond to of 12465

Article on Ziasun->INTERNET COMPANIES Losing Momentum An increasing number of Asian Internet firms are falling through the gap between hype and reality. Here's one -------------------------------------------------------------------------------- By Bruce Gilley/HONG KONG Issue cover-dated May 18, 2000 -------------------------------------------------------------------------------- IT'S EVERY INVESTOR'S New Economy nightmare: You put your savings into a small Internet company that you've heard and read will be the next big thing in cyber space. Six months later, your shares are worth a third of what you paid for them. And the company's planned listing on a major stock exchange is being delayed indefinitely. That's the story of Ziasun Technologies, a little-known American company that's listed on the lightly regulated, over-the-counter Bulletin Board of the Nasdaq stock exchange. Since late 1998, when Ziasun acquired two Internet start-ups in Hong Kong and the Philippines, the company and its paid stock promoters have pitched it as Asia's next Internet giant. But the gap between hype and reality has steadily widened. Ziasun's business unit for Asia, Hong Kong-based Momentum Internet, has yet to come up with a successful e-business. Its assorted ventures remain nascent at best, turning in an operating loss of $600,000 last year on revenue of $3.5 million. They include an on-line brokerage, a companies directory, a portal for business people and a Web-site hosting and design service. Few industry analysts or venture capitalists in Hong Kong have heard of Momentum or its Internet ventures. Since investors, prompted by sceptical stock analysts, began taking a harder look at Ziasun late last year, its stock price has fallen fast, from a peak of $16 in January to today's $6, putting its market value at around $160 million. The company's falling share price--and questions by regulators seeking more details about its disclosure statements--are holding up its planned listing on the American Stock Exchange. Ziasun is just one of the cautionary tales emerging from the New Economy in Asia. Plenty of other Internet firms are also struggling to draw up business plans, even as they absorb investors' money and hype their prospects to keep the funds flowing in. Ill-informed investors outside Asia are more easily impressed by the claims of self-promoting Asian Internet plays--and are certain to be dismayed as more Ziasun-like stories get told. "It's easy to be critical of Ziasun and its business model, but it's no different from any other Internet company," says Terrence Annamunthodo, executive director of Hong Kong-based fund manager Long-Term Partners, which has invested in Momentum's business portal. "I'm sure their listing will be hit by the market correction. But that's just the risk you take." The man behind Ziasun in Asia is Anthony Tobin, a 55-year-old Briton who started out as a journalist on small newspapers in Australia. In the early 1970s, he worked in the Middle East and Europe, where his posts included night editor at the Tehran Journal in Iran and editor of Dutch airline KLM's in-flight magazine. Later, Tobin worked stints at government information departments in Hong Kong and Singapore. In between, he set up a firm publishing travel guides in the Philippines. Tobin was running his own advertising agency in Hong Kong as the territory's 1997 return to China neared. Fearing the possible impact on his business, he turned to the Internet as insurance. PLANS FOR 'TIGER TOOTH' PORTAL "It was a way to internationalize my business to protect myself in case anything went wrong," he says. The result was a company offering Web-site hosting and design, and another providing e-mail services. They became Momentum Internet. Tobin soon steered Momentum into a series of other Internet businesses. Swiftrade is an on-line securities-trading site. Momentum Finance is a financial-information service. Search Dragon is an on-line directory of Asian companies. Momentum Asia, an affiliate in the Philippines, handles Web design and a call-centre business. Asia4Sale helps people open on-line stores. And AsiaENet is building a portal targeted at Asian executives; called Tiger Tooth, it will launch in the middle of this year, Tobin says. Those ventures came out just as the Internet began to take off in Asia. In early 1998, Tobin was approached by a group of investors in the United States led by stock promoter Bryant Cragun and marketing man Allen Hardman. Their company's investment in a device that refills soda bottles at supermarkets had just failed. They decided to transform the company, called BestWay U.S.A., into an Asian Internet player before listing it on a major U.S. exchange. "For them, it was part of the dotcom thing. For me, it seemed like a way to get listed simply and easily," says Tobin. In October 1998, the investors group bought Momentum Internet and Momentum Asia for 5.1 million shares in BestWay, which was renamed Ziasun Technologies. Ziasun's sales pitch became its focus on the Internet in Asia. "Originally we were thinking more international. But then everyone got excited about Asia. So we did a reversal," says Tobin, now Ziasun's chief operating officer for Asia. Press releases by the company and reports by stock promoters last year and early this year said Ziasun had "a dominant position in the exploding Asian Internet market," that it was "the portal of choice" in Asian countries and that it was "a recognized leader" in the region's Internet world. But as the company failed to live up to the billing, plans for a quick listing faltered. Swiftrade's partner is a small Hong Kong broker called United Mok Ying Kie, which hasn't generated much business, Tobin says. Asia4Sale "is not yet producing substantial revenues for us," he adds. Advertising on the other sites is negligible. In the Hong Kong office, about 10 people click away in silence. The 40 staff in the Philippines are housed partly in a disused building on a former air-force base. Tobin also promotes the acting career of his eldest son and the treasure-hunting operation of a Philippine friend among the "Internet businesses" on the Momentum Web site. The company has designed and hosts the Web sites of only two clients--mutual-fund retailer Barclays International Funds Asia and executive-search firm Bennett Associates. Ziasun's bottom line in 1999 showed a small profit. But that was only because it booked a $5 million gain from a last-day-of-the-year sale to Taiwan investors of 83% of Asia4Sale; plus there was a $6 million operating profit from an American subsidiary that runs seminars on day-trading. "Tony's group has suffered from not having significant local players as partners," says Annamunthodo of Long-Term Partners. "You need salesmen with connections in this region to make an Internet company boom." Instead of well-connected salesmen, Ziasun engaged several stock-promotion agencies to issue glowing reports on it, but when quoting them didn't disclose it had paid for the service. Among the latest was Hamburg-based World of Internet, whose tip sheet Stockreporter in April put Ziasun's target price at $28.50 a share this year--implying a market capitalization of $770 million--rising to $80 longer term. World of Internet was partly paid with 5,682 Ziasun shares valued at $11 each, of which "a certain amount compensates Stockreporter for dissemination of the research report," the tip sheet said in a disclaimer. Such efforts have made Ziasun the target of stock analysts, fund managers and investors, who have posted their attacks on financial Web sites. In April 1999, an analyst at FinancialWeb.com criticized the way Ziasun had portrayed Momentum's businesses, concluding: "What's behind this upstart? Not much, so far as we can tell, besides a slew of press releases and some pretty outrageous hype." A year later, the criticism has continued: "Ziasun is an unproven entity that talks big but comes up short on facts and figures," analysts at StockDetective.com wrote. CRITICS ARE 'FANATICS' Ziasun has sought but failed to get court injunctions against some of its harshest critics. Tobin says they're short-selling the stock--claims that the critics deny--hoping to earn a profit by driving the price down. "Those people are fanatics. You cannot win a debate with them." Indeed, the critics seem to be winning: Ziasun's listing has been delayed, Tobin says, because the U.S. Securities and Exchange Commission has "made a few comments" on its disclosure statements. With the stock price languishing, it's questionable whether Ziasun will go public in the foreseeable future. Tobin still hopes that bundling his various Internet interests together on the business portal, Tiger Tooth, will finally create synergy through a one-stop shop for Asian executives. Long-Term Partners' $1 million investment for a 10% stake in the portal will cover costs for this year, he says. The events of the past year have left Tobin disillusioned with the stockmarket game. If the company can't list, it won't matter, he says. "I'm not out for a major stock play. I'm here to build a business." google.com

To: Jeffrey S. Mitchell who wrote (395)	6/30/2000 3:15:47 AM
From: StockDung	Respond to of 12465

Ziasun8HypeBusters! If there's something strange in your message board neighborhood. Who you gonna call? Ziasun8HypeBusters! If there's something weird and a strong buy report don't look good. Who you gonna call? Ziasun8HypeBusters! I ain't afraid of no hypster I ain't afraid of no Touts If you're seeing things like a stock running that used to be dead. Who can you call? Ziasun8HypeBusters! An invisible Ray Dirks/Meatloaf/Tom Heysek analyst Touting in your message thread Oh, who you gonna call? Ziasun8HypeBusters! I ain't afraid of no hypsters I ain't afraid of no touts Who you gonna call? Ziasun8HypeBusters! If you're all alone, pick up the phone And call. Ziasun8HypeBusters! I ain't afraid of no hypsters I ain't afraid of no Touts Yeah, yeah, yeah, yeah Who you gonna call? Ziasun8HypeBusters! If you've had a dose of a freaky Touts You'd better call Ziasun8HypeBusters! Let me tell you something Bustin' makes me feel good I ain't afraid of no hypsters I ain't afraid of no Touts Don't get caught alone, oh no Ziasun8HypeBusters! When unscrupulous brokers comes through your door Unless you just want some more I think you better call Ziasun8HypeBusters! Ow!Who you gonna call? Ziasun8HypeBusters! Who you gonna call? Ziasun8HypeBusters!

To: Jeffrey S. Mitchell who wrote (395)	7/1/2000 9:31:14 PM
From: StockDung	Read Replies (1) \| Respond to of 12465

Gray Cary Obtains First-of-its-Kind Retraction Order Against Cybersmearing Defendant (SAN DIEGO, CA) February 7, 2000***Sounding the warning bell to internet market manipulators, Gray Cary successfully obtained a first of its kind restraining and retraction order from a San Diego Court against defendant Floyd D. Schneider (aka The Trusthseeker, Crims Thieves, and Floydie). Schneider had been sued by plaintiff Bryant Cragun in San Diego Superior Court for unfair, deceptive, and unlawful business practices. Cragun alleges that Schneider has embarked on an extensive campaign of false and derogatory internet postings against Cragun, his family, and several companies with which he is affiliated. According to Cragun’s application for a restraining order, Schneider recently escalated his practices by issuing a series of false press releases designed to deceive investors into avoiding stocks affiliated with Cragun. Bryant Cragun is represented by Daniel T. Pascucci and Timothy S. Blackford of Gray Cary. google.com

To: Jeffrey S. Mitchell who wrote (395)	7/2/2000 12:11:09 AM
From: StockDung	Respond to of 12465

By: Francois_Goelo $$$$Reply To: 3351 by AlpineSleuth $$$ Thursday, 10 Jun 1999 at 4:48 PM EDT Post # of 23368 A.Sloth, Let's review your post in ZSUN's light, not any other type of stock we're not interested in, since we're no farm hands taking care of "stables". ragingbull.com ACCORDING TO YOU: "all the Companies in Cragun's stable have been used in much the same manner. Stock is issued pursuant Regulation S, with "International Asset Management" doing the underwriting..." 1) Supply proof of Mr Cragun controlling the above Company. 2) Supply proof of the number of Regulation S shares allegedly issued by ZSUN. 3) Supply the identity of the alleged purchasers of Reg S shares and date of the purchases. 4) Supply proof of time and sales of these shares allegedly sold, to ascertain the size of the discrepancy with market prices at the time. 5)** CONCLUSION: Of course, you realize that you have made some grave accusations that you will have to fully substantiate to retain any remaining shred of credibility on this Board and perhaps to avoid a potential action in DEFAMATION by the injured party. Don't keep us waiting too long for the answers or I'll repost this every few hours. F. Goelo + + + ragingbull.com Re [ZSUN] New lawsuit filed against Cragun, Briggs, Tobin, Ziasun, et al James A. Shalvoy SBN 129503 1201 Morningside Drive Suite 215 Manhattan Beach, CA 90266 Tel 310-796-0447 Fax 310-796-0277 Attorney for Defendant George Joakimidis SUPERIOR COURT FOR THE STATE OF CALIFORNIA COUNTY OF SAN DIEGO GEORGE JOAKIMIDIS ) Case No. 730826 ) CROSS COMPLAINT OF GEORGE Cross-Claimant ) JOAKIMIDIS FOR: ) vs. ) 1. UNFAIR BUSINESS PRACTICES IN BRYANT CRAGUN, LYNN BRIGGS, ) VIOLATION OF CORPORATIONS CODE ANTHONY TOBIN, ZIASUN ) SECTION 17200, ET SEQ TECHNOLOGIES, INC., TITAN ) 2. FRAUD MOTORCYCLES OF AMERICA, INC., ) 3. BREACH OF CONTRACT BEVEX INC., P.T. DOLOK PERMAI, dba ) 4. BREACH OF FIDUCIARY DUTY INTERNATIONAL ASSET ) (FILED CONCURRENTLY WITH MANAGEMENT, JONES, JENSEN & ) ANSWER) ASSOCIATES, and DOES 1 through 100, ) inclusive ) Case assigned to Hon. Janis Sammartino ) Department 71 Cross-Defendants ) ------------------------------------ etc. Dated: April 25, 2000 ================================= By: AlpineSleuth $$$ Reply To: 3350 by Francois_Goelo $$$$ Thursday, 10 Jun 1999 at 2:38 PM EDT Post # of 23368 Here is the truth you should be telling your followers Francois. You do know about Regulations S do you not? You know how IAM/Amber operates do you not Francois? Read my posts Francois! ZSUN, its predecessor Best Way USA Inc. (BTTF), and all the companies in Cragun's stable have been used in much the same manner. Stock is issued pursuant Regulation S, with International Asset Management doing the underwriting. Investors are charged artificially high prices for these thinly traded obscure microcaps, but only a fraction of the proceeds raised by International Asset Management finds its way to the companies. And the balance? Colossal illicit profits Francois. In the international arena, microcap fraud has unfortunately not attracted the desired scrutiny from the foreign financial regulators and law enforcement agencies. The reasons for this are obvious. With the multitude of jurisdictions involved, the aggrieved investor runs into a brick wall and the vast majority of cases go unreported. By focusing only on non-US investors, up until now IAM/Amber has largely managed to escape the scrutiny of the US authorities. ZSUN however, is set to change all this Francois. With a slew of press releases and touting on various forums, ZSUN has attracted many unsuspecting US investors. You can only fool the people some of the time Francois. Sooner or later Cragun's entire operation will be exposed. And I believe it will be sooner rather than later. AlpineSleuth ragingbull.com

To: Jeffrey S. Mitchell who wrote (395)	7/2/2000 9:07:06 PM
From: StockDung	Respond to of 12465

"Let us revisit another misleading press release on May 17, 2000:" By: frisky $$$ Reply To: None Sunday, 2 Jul 2000 at 8:58 PM EDT Post # of 23399 Let us revisit another misleading press release on May 17, 2000: Wednesday May 17, 4:03 pm Eastern Time ZiaSun Reports Record Sales and Profits for the Three-Month Period Ending March 31, 2000 (Q1-2000) Record sales of $14.5 million in Q1-2000 with $4.2 million in pre-tax profit and $0.20 EPS EBITDA. Q1-2000 sales increased more than 15 times over Q1-1999 SOLANA BEACH, Calif. -- May 17, 2000 -- ZiaSun Technologies, Inc. (OTC BB: ZSUN) (www.ziasun.com), a diversified Internet holding company, today reported exceptional operating results for the quarter ended March 31, 2000. The Company also announced it cleared comments with the SEC on its Form 10-SB Filing On May 12, 2000, and will now submit its application for listing on the American Stock Exchange. ZiaSun's net sales for Q1-2000 increased more than 1536% to $14,498,361 from $885,871 in Q1-1999. First-quarter gross profit increased 1326% year-over-year to $7,023,447 with a solid 48% gross margin. Q1-2000 fiscal results were very profitable with income before taxes of $4,244,450, or $0.20 EPS EBITDA, compared to $0.01 EPS EBITDA in Q1-1999. The large increase in Q1-2000 net sales over Q1-1999 net sales was primarily due to the acquisition of OIA, which was not a subsidiary of the Company in Q1-1999. As of March 31, 2000, the Company had $16,801,667 in cash and receivables, total current assets of $18,497,113 and $136,897,395 in total assets. The increase in current assets at March 31, 2000, over March 31, 1999, is primarily due to the increase in cash from $886,812 to $15,734,397, an increase of $14,847,585 or 1674%. ZiaSun also reported no long-term debt and $124,880,579 in total stockholders' equity at the close of Q1-2000. ... Comment: (1) According to the 10q statement, the weighted-average shares for basic EPS was 22,219,148 and 22,269,148 for the diluted EPS. If you divide $4,244,450 by 22,219,148, you will obtain $.19. ZSUN inflated EBITDA by a penny. (2) Again, ZSUN did not include the contingent shares in calculating EBITDA. At the time of the press release, ZSUN knew that it was going to issue 9,820,125 shares to OIA shareholders plus $6,000,000. They did not put any portion of the contingent shares in the denominator. Again, OIA is the sole profit contributor and 85% to 90% of revenue contributor. The other shareholders get the phantom share of profit while the former OIA shareholders enjoy $6,000,000 reward. The EBITDA therefore was over-inflated further. (3) ZSUN did not indicate that it had paid $6,000,000 to former OIA shareholders to settle 12,000,000 contingent shares. ZSUN made the public that $16,000,000 was free and clear. (4) The increase of total assets to $136,897,395 and shareholder equity to $124,880,159 was mainly from booking the reward to former OIA shareholders of $112,000,000. Only a few shareholders enjoy the benefit. This is a badwill to other shareholders. However, the shameless management dared to brag about the significant increase of assets and shareholders' equity without telling the public that it was simple an accounting game. The gullible longs are fooled. They will carry the stigma of goodwill amortization for the next 10 years. ragingbull.com