Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Auric Goldfinger's Short List -- Ignore unavailable to you. Want to Upgrade?

To: reverendquincy who wrote (9562)	4/3/2002 11:10:26 AM
From: reverendquincy	Respond to of 19428

LMLP - Is MOORE back in business, now that his suspension has been lifted? LML recovers from Barron's suspension disclosure David Baines August 22, 2000, The share price of Vancouver-based LML Payment Systems Inc. has nearly recovered since a Barron's article halved it two weeks ago, even though the company has reported more losses. LML shares, which trade on Nasdaq, plunged $5.15 to $5.84 US on Aug. 7 after Barron's writer Bill Alpert reported in his ''Plugged In'' column that two of LML's major shareholders, Robert Emerson and Don Choquer, were suspended in March 1997 for securities violations relating to a previous Vancouver promotion, Cam-Net Communications Network Inc. Choquer's suspension expired in March of 1999, but Moore's remains in effect until March 2002. The Barron's article piggybacked on earlier Vancouver Sun stories detailing Moore's and Emerson's continued involvement in the company's affairs despite their stock market suspensions. LML's business -- providing cheque authorization and collection services to retail merchants -- has been a money-loser, but its stock has performed well. It jumped from a low of $3 US last year to a high of $73 by March 27. At that price, Moore's stock holdings were worth $365 million and Choquer's $145 million. The high stock price attracted short sellers, and the stock nose-dived to $20, then to $10, then to $5 after the Barron's article. On Friday, the company reported a net loss of $850,187 during the fourth quarter ending March 31, slightly less than the $1.1 million it lost during the same quarter the previous year. For the whole year, revenues were $3 million, up from $234,284 the previous year, and the net loss was $2.3 million, nearly the same as the previous year. Despite the company's continuing losses, the stock has regained nearly all the ground it lost after the Barron's article. On Monday, it closed at $9.12 US, up 50 cents on the day. Meanwhile, Choquer has been trading large chunks of stock. According to insider trading reports, he acquired 210,000 shares at $30.12 on April 4 and another 92,000 at $20.44 on July 11. Within a week, he sold 400,000 shares at $11.75 and 25,000 at $10.50. Emerson, still under a trading suspension, has not filed any insider trading reports in recent months.