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Strategies & Market Trends : Conversion Solutions Holdings Corp. - A Scam? -- Ignore unavailable to you. Want to Upgrade?

To: JudgeRoyBean who wrote (601)	8/27/2006 4:06:13 PM
From: scion	Read Replies (1) \| Respond to of 4624

Thanks Judge. Yes, I was scion on WELU. What a stinker that was. What alias were you using on RB?

To: JudgeRoyBean who wrote (601)	8/27/2006 4:18:46 PM
From: scion	Respond to of 4624

OT: WELU Memory lane - my favorite PR was the one that described the long-deceased Dr Norman Vincent Peale as an "early subscriber" to the Synpan credit card. SEC: Wellness Universe Ran Internet 'Pump-And-Dump' Scheme By COLLEEN DEBAISE NEW YORK -- Days after suspending trading in Wellness Universe Corp. (WELU), the Securites and Exchange Commission sued the Minneapolis company for allegedly running a "pump and dump" scheme over the Internet. The suit, filed Wednesday in Manhattan federal court, contends that Wellness and its chief executive, George Pappas, tried to inflate Wellness' stock price by posting phony press releases on the Internet about a related entity, Synpan Corp. Among other things, the press releases claimed that Synpan planned to conduct a $1 billion initial public offering of its stock; to buy an Internet business for $500 million; and to hire an experienced executive to operate its Internet business, according to the suit. The agency said the press releases, posted on Synpan's corporate Web site, Yahoo! Inc. (YHOO) and PR Newswire, had been "designed to convince potential investors that Synpan and Wellness will soon be combined in a billion-dollar, Internet-based, health-related business." Those false claims caused Wellness' bulletin board stock to rise from 10 cents a share in December to over $1 earlier this month, the SEC contends. The agency, which has suspended trading in Wellness' stock until Feb. 25, seeks a court order freezing the company's assets and requiring the defendants to turn over ill-gotten profits. Besides Wellness, Synpan and Pappas, the suit also names various members of the Pappas family and others involved in the business. The SEC said Pappas and his family control at least 82.9 million Wellness shares. A phone call to Pappas' New York office wasn't immediately returned. Several Synpan press releases distributed by PR Newswire in the past few weeks depict Pappas as sort of a New Age guru-turned-chief executive. In one release announcing the launch of a poetic guide, Pappas is quoted as saying "Challenged by my vision to reclaim our creative power to construct or destruct, I invite you to join my quest to heal ourselves and the planet and amplify my message, 'God is the only pharmacy in town."' -Colleen DeBaise, Dow Jones Newswires, 212-227-2017,

To: JudgeRoyBean who wrote (601)	8/27/2006 4:58:02 PM
From: scion	Respond to of 4624

The world of penny stocks rarely fails to astound. New York Post On Line Edition August 20, 2006 nypost.com While tall promises and diminutive delivery are hardly anything new, a Georgia company called Conversions Solutions Inc. may well take the prize in this arena. Conversion Solutions, which claims to be in many businesses, including asset- finance, has a chief executive named Rufus Paul Harris who makes Over stock's Patrick Byrne seem soft-spoken by comparison. Last week, Harris - who has promised that shares, trading at near a buck, could soon be worth $15 - was touting that the company had access to more than $500 million in capital from a se cretive Atlanta-based group called the Humanitarian & Scientific World Foundation, reports The Post's Roddy Boyd. Why the investment? Because Conversion Solutions approached the group with a United Nations- backed plan by which "many lives will be saved," according to Stephen Canaday, a trustee at the Humanitarian & Scientific World Foundation. No more information could be divulged "due to matters of national security," Canaday said. StockLemon, a research Web site run by a short-seller, quotes Harris as promising, "Our target range for three months' trading was in excess of $100 a share." Also, he pledged "a billion dollars in profits over the next 10 years" - an astonishing claim given that Conversion Solutions lost $758,000 on $143,000 in revenue for the quarter ended in March, according to SEC filings. Harris issued a press release Friday saying the company had signed a funding agreement with Humanitarian & Scientific World Foundation that provides it with access to a $579 million note guaranteed by Lehman Brothers. Conversion Solutions' Harris and several other company executives did not respond to requests for comment. nypost.com