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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: Kevin Podsiadlik who wrote (9105)	2/17/2003 2:05:28 PM
From: Bill Wexler	Read Replies (1) \| Respond to of 10293

I actually have no problem with companies going IPO while they are still in development stage. In fact - and much to the surprise of people like Dixon and Mike M(oron) - I don't have any trouble with companies obtaining public capital to fund the development of technologies of questionable value (such as REFR's SPD), "Homeopathic" drugs - otherwise known as placebos (such as MTXX's Zicam), etc. I think that anyone should have the right to toss their money down the toilet as they see fit. The problem I have is that these companies don't engage in full disclosure. They wrap their pseudoscience in a barrage of misleading press releases designed to sucker small investors into believing their products have real economic value. If you are in the business of developing perpetual-motion machines and you want to raise money through stock sale, then I will short your stock and I will call your technology fraudulent - no matter how many press releases you issue touting "licensees" and "imminent commercialization"...so unless you can somehow change the laws of physics, then you're going to have to face the fact that there are people out there who can't be fooled.

To: Kevin Podsiadlik who wrote (9105)	2/17/2003 6:35:34 PM
From: Mike M	Read Replies (3) \| Respond to of 10293

Kevin, you're smart and articulate. If you're going to respond to my comments, please at least try to understand what I said and speak to the issues. The capital markets allow companies to float equity and/or debt in a myriad of different ways. The way REFR chose was perfectly acceptable. But, you and I both know this issue isn't about REFR or MTXX or any other specific company. I'm talking about greed, manipulation and abusing the markets. I'm referring to organized efforts to smear companies while, at the same time, systematically and deliberately kicking the legs from under small companies just because a syndicate has the financial wherewithal to do it.