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Non-Tech : LOCK (Saf-T-Lok) -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Stress who wrote (484)	2/18/1998 12:19:00 AM
From: Tekktrader	Read Replies (1) \| Respond to of 1039

Dave, I'm going to tell you my motivation straight up. No, I am not short this stock (an individual investor has not been able to short LOCK for a week or more according to what I've heard) and I am not being paid anything by anyone, let alone the short players out there. I found out about this stock when I was asked to comment on a story being developed for a business publication about the use of the Internet to hype various stocks. I've been involved with the development and commercialization of the Web since 1993 when I was fortunate enough to participate in the startup of what is now one of the largest ISPs in the country. When I looked into LOCK in connection with the story, I was taken aback by the arrogance of the promoters behind this thing. Its not just that its another (in my opinion) hype job where company insiders (and external public relations firms) hype the hell out of the value of a startup company with no sales and no revenue and no operating history and then sell their equity interests to an unsuspecting public. That happens every day in this business. Wht really PISSES ME OFF is that these guys are one of the new breed that are taking the old "pump and dump" scam to new and higher levels by making effective use of the awesome channels of communication opened up by the Net! The scammers are adopting to new media faster than the regulators can keep up. And in this case, they are not even bothering to cover their tracks. Its the height of arrogance! Can I ask you whether you have read the SEC filings for LOCK for the past 6 months? Its an amazing story of hyped news, insider sales, offshore financings, no sales (until the latest alleged sales to complete novices in the gun industry and under terms that completely defy logic or common sense), hundreds of thousands of dollars going to PR firms and "business consultants" (while the company spends virtually nothing to develop a sales channel through legitimate dealers), and on and on. The "buy recommendation" that came today was the biggest fraud I've ever seen in connection with supposed "independent analysis". Not only that, but there were people on various stock message boards A WEEK IN ADVANCE OF TODAY'S NEWS telling people to buy more stock because "good news was coming" in the form of a "strong buy" recommendation. As small independent investors, we should all be outraged by what these guys are doing. Thats it. I've been a "watcher" on SI telecom AND isp boards for years, but I was finally motivated to join just to make sure people here got some alternative views of whats going on with LOCK. By the way, I have no doubt that more "good news" is coming and that the stock will probably go up again, at least a little. The LOCK shills on other boards have already told us all that! But sooner or later this thing will come crashing down. Have you done the math to see what the fully diluted valuation is on this company at these prices? For a company that has never sold more than $135,000 product in its entire history?