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Microcap & Penny Stocks : Genesis Media Group, Inc (GNNX) -- Ignore unavailable to you. Want to Upgrade?

To: Y2k_fan who wrote (105)	4/17/1998 6:19:00 PM
From: ROY DEL	Read Replies (1) \| Respond to of 3129

Not to rain on the parade as I bought into this myself yesterday, but don't say you can't be lied to. Just go look at PCNI I'm still holding 2500 I bought at 4 5/8 and knowing I was lied to doesn't help a bit. Roy

To: Y2k_fan who wrote (105)	4/17/1998 6:39:00 PM
From: Charger	Read Replies (1) \| Respond to of 3129

However, this is a public company; no way they can lie about the 60 million dollar deal. They can go to jail if this is not true. It would be useless to steal shareholders' money and to spend them in the jail. Also, PR News and Dow Jones demanded a copy of the contract which named the Meyer Group before they would publish the news and upon verification of the contract, they then published the news release. It is my understanding that (for some reason?) the Meyer Company did not want their name to be public, the news release was OK'd at 10 pm, therefore no one was reachable and the news was published at 8 am EST, so they were apparently taken by surprise and just "being careful" in their responses. Mr. Goldberg has informed me that the Meyer Group is a private financial group, certainly capable, and that the financials in the 10K for ICSV have nothing to do with the Meyer Group, or this particular contract, as the deal between ICSV and the Meyer Group will not be concluded until this May. Charger

To: Y2k_fan who wrote (105)	4/17/1998 7:01:00 PM
From: Due Diligence	Read Replies (1) \| Respond to of 3129

Let's see. Yesterday one or two nays with "unfounded" scenarios. Today and this weekend the "shorters" will probably multiply. Most of us are used to the tactics and the strong GNNX finish speaks for itself. Companies that have solid releases do grow in value and "real world" investors do take notice.I'll shut up now. Jimbo

To: Y2k_fan who wrote (105)	4/17/1998 7:04:00 PM
From: Gutterball	Read Replies (1) \| Respond to of 3129

The fact Genesis Media Group was born out of a reverse merger is reason alone to be suspicious. More on this later. I've looked into GNNX, and what little is out there is confusing. E.G., The December PR #reply-4085240 indicated 10,990,000 shrs outstanding. Now, on their home page they show 19,346,000 shrs outstanding. This report can be viewed here #reply-4088841. My question is, how many shares are outstanding? Now for the reverse merger. Someone mentioned GNNX had 19,346,000 shrs restricted. Most of these shrs probably belong to the guy who provided the shell. When do these shares begin trading? The problem with reverse mergers is that they are usually accompanied by dilution, like those 19 million shrs. This dilution adds nothing to the company's assets. Its one hell of a cost the company pays to go public compared to the traditional IPO. So why pay it. Well, reverse mergers occur sometimes because a company can't go public any other way, and there in lies the reason for concern. Also, were owners of Media Group holding stock and options at the time of the merger and what ratio did these converted into GNNX? Anyway, folks here seem to be doing a good job reviewing GNNX. I just wanted to add more fuel to the fire.