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To: scion who wrote (4166)	1/29/2003 7:32:38 PM
From: scion	Respond to of 12465

AOL Time Warner Posts Biggest U.S. Loss, Turner Quits (Update5) 01/29 18:54 By Kim Chipman New York, Jan. 29 (Bloomberg) -- AOL Time Warner Inc. posted a $98.7 billion annual loss, the biggest in U.S. history, and said Ted Turner will step down as vice chairman of the world's largest media company. Turner, 64, the company's largest individual shareholder, will step down in May, Chief Executive Officer Richard Parsons told investors on a conference call. Parsons expects Turner to remain on the board, said spokeswoman Tricia Primrose. Turner hasn't made his decision public yet, she said. AOL Time Warner reported a $45.5 billion writedown to reflect a decline in the value of its America Online unit and cable systems. The charge led to a loss of $44.9 billion in the fourth quarter. ``Overall it looks like a terrible earnings report,'' said Doug Kass, a hedge fund manager at Seabreeze Partners LP. Kass said the fund has a ``small short'' position in AOL Time Warner, meaning it's betting the stock will decline. The fourth-quarter net loss widened to $10.04 a share, from $1.83 billion, or 41 cents, a year earlier, AOL Time Warner said in a statement. Sales rose 10 percent to $11.4 billion from $10.4 billion. AOL Time Warner shares fell as much as $1.39, or 10 percent, to $12.57 in extended trading after the earnings announcement. The shares rose 30 cents to $13.96 in New York Stock Exchange composite trading. The New York-based company released the results after the close of U.S. markets. Debt Covenants The company said today that the writedowns don't affect its liquidity or put it in violation of any debt covenants. Still, some investors said they're concerned. ``The fear is that there is a debt covenant'' requiring the company to maintain a minimum net worth of $50 billion, said David Joyce, an analyst at Guzman & Co. who has a ``perform-in-line'' rating on AOL Time Warner. He doesn't personally own the stock. Profit before the writedown, amortization and other non-cash expenses was 28 cents a share, above the average forecast of 26 cents from analysts polled by Thomson First Call. The America Online Internet division was the only one of the company's six units to report lower earnings before interest, taxes, depreciation and amortization, or Ebitda, in the fourth quarter. Of the $45.5 billion writedown, $33.5 billion was for America Online, the New York-based company said. AOL Time Warner wrote down the value of its cable-television systems by $10.5 billion in the fourth quarter. The company's stock has fallen 78 percent since America Online announced its $124 billion purchase of Time Warner in January 2000. Resignations Earlier this month, Chairman Stephen Case, formerly head of America Online, said he would resign in May because of investor anger over the acquisition. The New York Times reported last year that Turner was pushing to remove Case. CEO Parsons will replace Case as chairman. Turner told Parsons last night that he would resign, the CEO and chairman-elect said. ``I have not come to this decision lightly,'' Turner said in a statement. ``As you know, this company has been a significant part of my life for over 50 years.'' Turner, 64, founded Turner Broadcasting, parent of the CNN and TBS cable channels. He became vice chairman when Time Warner acquired his company in 1996. Turner approved the AOL Time Warner merger when it was announced, then became a critic of the deal. ``He probably decided he was getting bored with the whole thing,'' said Harold Vogel of Vogel Capital Inc. ``He wasn't able to move the company in the direction he wanted. Clearly, he was very unhappy with the whole AOL deal from day one.'' AOL Time Warner today picked Bear Stearns Cos., Citigroup Inc.'s Salomon Smith Barney and Deutsche Bank AG to arrange the sale of a stake in Time Warner Cable, people familiar with the situation said. The sale would be the sixth-biggest U.S. initial public offering ever, assuming it reaches the $4 billion that some analysts expect. (AOL Time Warner began a conference call to discuss the results at 4:45 p.m. New York time. To listen from within the U.S., call 1-800-857-7465. From outside the U.S., call 1-630-395- 0175 and use pass code 2128.) quote.bloomberg.com

To: scion who wrote (4166)	1/29/2003 10:55:33 PM
From: Jeffrey S. Mitchell	Read Replies (4) \| Respond to of 12465

Re: 1/29/03 - [ACPL] FinancialWire: Prevention Plus Minuses World Record Ticker Spam; PR: Accident Prevention Plus, Inc. Rebuts Release Put out by Integrity Securities LLC and Their Alleged Attempt to Induce Short Selling Prevention Plus Minuses World Record Ticker Spam January 29, 2003. (FinancialWire) Guinness Book of World Records, take note. A January 17 press release by Integrity Securities on behalf of their clients FreeStar (OTCBB: FSTI) and Sionix (OTCBB: SINX).apparently was coded in such a way as to ticker spam somewhere between 4,200 and 5,300 OTC Bulletin Board companies – all in a first paragraph that was 23 printed pages long, perhaps itself a dubious achievement of sorts. This release’s timing coincided with another effort for a large number of companies that have been linked with various efforts to combat naked shorting – GeneMax (OTCBB: GMXX), Ten Stix Inc. (OTCBB: TNTI), BlueBook International Holding Co. (OTCBB: BBIC), MidasTrade.com (OTCBB: MIDS), MSM Jewelry Corp. (OTCBB: MSMJ) and Make Your Move Inc. (OTCBB: MKMV), all of which have alreaded exited the DTC, and companies that have said that they are or are considering exiting DTC: Reeds Holdings Corp. (OTCBB: RDHC). Nutra Pharma Corp. (OTCBB: NPHC), Critical Home Care Inc. (OTCBB: CCLH), Hadro Resources Inc. (OTCBB: HDRS), Jag Media Holdings Inc. (OTCBB: JGMHA), InternationalBioChemical Industries Inc. (OTCBB: IBCL), SunComm Technologies Inc. (OTCBB: STEH), Bentley Communications Corp. (OTCBB: BTLY), Nutek Inc. (OTCBB: NUTK), ITIS Holding (OTCBB: ITHH), Environmental Products & Technologies (OTC: EPTC) and Edgetech Services (OTCBB: EDGH). In any event, exception was taken by at least one of the companies in the 24-page release, Accident Prevention Plus, Inc. (OTCBB: ACPL) which has now issued a press release to deny any association with Integrity or its author, Matthew Marcus, or that it “was attempting to become or already is a ‘certificate only’ company and was denied by DTC.” Jennifer Swanson, CFO, said, “This is just another attempt to induce short selling against our and many other companies. These statements made referring to our company were inaccurate and I have contacted the author to demand a retraction and apology. “Our management has always believed that the road to fighting the short sellers is not through smoke and mirrors but by the development and marketing of our products and increasing our revenues, which from our last release the investors can see we have made great strides and our direction is prosperous. Unfortunately, it seems to be impossible to monitor and analyze all information that is put out on various OTCBB companies by these individuals, but, as in this case, when we are able to catch it we intend to fight it and use any and all resources to rectify these situations. We will never get rid of the short sellers but we will fight them tooth and nail." investrend.com ===== Accident Prevention Plus, Inc. Rebuts Release Put out by Integrity Securities LLC and Their Alleged Attempt to Induce Short Selling PALM BEACH GARDENS, Fla., Jan 27, 2003 (BUSINESS WIRE) -- Accident Prevention Plus, Inc. (OTCBB:ACPL). In an article and release put out by Integrity Securities LLC and written by Matthew Marcus, it was stated that Accident Prevention Plus, Inc. was attempting to become or already is a "certificate only" Company and was denied by DTC. Accident Prevention Plus, Inc. (ACPL) was mentioned in the article as a "certificate only" Company. Jennifer Swanson, CFO and Executive Vice President stated the following: "This is just another attempt to induce short selling against our and many other Companies. These statements made referring to our company were inaccurate and I have contacted the author to demand a retraction and apology. Our management has always believed that the road to fighting the short sellers is not through smoke and mirrors but by the development and marketing of our products and increasing our revenues, which from our last release the investors can see we have made great strides and our direction is prosperous. Unfortunately, it seems to be impossible to monitor and analyze all information that is put out on various OTCBB companies by these individuals, but, as in this case, when we are able to catch it we intend to fight it and use any and all resources to rectify these situations. We will never get rid of the short sellers but we will fight them tooth and nail. "To all shareholders and possible investors, we suggest that you contact the Company directly for truthful, honest and accurate information. As you can see by our filings and our press releases, we are strong and moving in a positive direction. Management has taken a `no tolerance' stance against false information being put out to the public." Accident Prevention Plus, Inc. (ACPL), located in Palm Beach Gardens, FL, is a technology company which designs, manufactures and distributes On Board Recorders for all types of vehicles. The Company specializes in the safety, economic enhancement and security for vehicles, drivers and cargo. Our products are sold worldwide. Our engineers design all our software and firmware, as well as any hardware we require. Accident Prevention Plus, Inc. owns all of its intellectual properties. For IR package call 561/721-2220. This press release contains certain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management's current expectations of beliefs and are subject to a number of factors and uncertainties that could cause actual results, levels of activity, performance or achievements to differ materially from those described. CONTACT: Accident Prevention Plus, Inc., Palm Beach Gardens Jennifer Swanson, 561/721-2220 Jswanson@APPlus.com (c) 2003 Business Wire. All reproduction, other than for an individual user`s reference, is prohibited without prior written permission. pinksheets.com