> I'm curious about which penny stock scam companies you're aware of that were incorporated in Nevada? - post 4304
> Let's see. Home Link Corp, NovaTek, Mountain Energy, Alliance
Industries, Twenty First Century Health, Combined Companies
International, Eventemp Corporation,Sky Scientific. I'll stop there because it looks like I just crashed the state of nevada's search engine. In fact it would appear to me that over 50% of all corporations that were halted by the SEC were incorporated in the state of Nevada.
You've named seven. If you don't have statistical, verifiable evidence, then that last statement is unwarranted.
> I'm really curious. It's my honest suspicion that you heard somewhere to watch out for Nevada corporations because only scammers incorporate in Nevada. I would expect you to be able to come up with a couple scam penny stocks off the top of your head, if you truly know Nevada to be a haven for scam penny stocks. - post 4310
> Some reasons why Nevada is attractive to penny scams: Officers and Directors can not be sued for the activities of the Corporation. No
"information sharing agreement" with the IRS, the only state to do this. Officers have the most control. They can authorized more shares and issue those shares without bringing it to a shareholder vote. They
change directors at the drop of at hat. They can do all of that you
never notify you. A Nevada corporation basically makes up the rules as they go. They don't have to disclose any information ont he Directors other than their name and address.
References, please.
> Hi Cliff, You seem to have all this negative stuff lined up and well
orchestrated. What's your goal in doing this ? - post 4355
> My goal is to educate the uneducated on the world of BB stocks. Some of you here are experienced but most or not. Don't get caught up in the hype. People that call their relatives to invest in a stock are hyping as well. You wouldn't want your relatives thanking you for losing their money would you?
Well, aren't we the egotistical one? How do you know what the experience level is on this thread? Did you or did you not recently get caught up in theMTEI scam? Was this the action of an `experienced' BB investor? You've really lost it on this one.
> You being a Canadian Cliff, are you shorting this stock? - post 4356
> When did I become Canadian? That's my favourite thing to hear!
Oh, now this is really good! You have just used the British spelling of
`favorite'. If you are not Canadian, which British colony are you from??? By the way, you didn't answer the question with a yes or no.
> Have you spoken with either MS or her directly about some of your
questions and concerns????? - post 4371
> I answered that already. But to be complete the answer is no. I have not yet talking to MS about any of my concerns. Am I the only one who wants to know the answers to these questions? Or is everyone just want to be left alone in they Happy Place?
Yes, you did. And no one can understand why you don't go directly to the source of your concerns if your true mission is to get at the truth rather than simply create unrest on this thread for some nefarious reason.
> CALL AND ASK. Do you ever do any of your own legwork? - post 4383
> I answered this as well. Calling the company is not the best DD in the world people. You will never hear them tell you anything negative. You will get the good version of the business. How come MS can't tell
anything about the authorized shares and outstanding? I think it's
because those numbers are getting ready to grow.
See below regarding `believing the management'. The question is not
whether the shares will continue to grow. It's if they grow, what are thosenew shares being used for? And that, my friend, is something that neither you nor I know just now. It seems apparent that FNTN is acquisition minded. They have very little currency at this point other than their own stock. Call me if the number of authorized shares increases without explanation.
> Why don't you call the company and ask them why they made the hardware purchasing decisions that they did, and make your suggestions. Maybe they'll hire you. You apprear to have plenty of free time.- post 4385
> Again they will justify way they chose to do this whether they think it
was right or wrong. I don't have plenty of free time. The hype here is
keeping me plenty busy these days. As soon as the heat comes the head cheerleader (Bill Fortune) is ready to move to another thread.
I won't even comment on the irony in the first and second sentences other than to say `get a life'. I am curious why you picked FNTN as your target, though. This is a company that seems far more on the level than the vast majorityof BB stocks. There are a lot of MTEI types around. No challenge for you?
> I'll add one of my own. What company do you work for and in what
capacity? Now, you may think that this is off topic, but I do not. It's
a question of credibility, doncha see, old pal?
> I do think that is off topic. But I will tell you it's worth about 8 billion dollars. And it's listed on the NAZ.
So you say. However, I sort of like to be able to call up the company
switchboard and ask for the person in question. Otherwise, you could
be anyone, understand?
> You have said that you would not trust anything that FNTN management tells you (I'm paraphrasing, but the sense is there). It is obvious that you certainly would not believe most of the posts provided by the members of this thread. So, is your entire evaluation of FNTN as an investment based on a comparison of news releases versus apparent results? Because if so, old sport, you are not telling us anything new.
> I never said that. But as a good measure, believe none of what you see and half of what you hear. My entire evaluation is based on new releases and past performance. So far there has been no product and shares are being printed every quarter. Did they ever put out a press release or notify it's shareholders that they were going to do that? Thanks to the Nevada Corporation laws they don't have to tell you jack.
First, you really need to stop saying `printing shares every quarter'. Yes, total shares have increased quite a lot, but you don't know when. This is another example of your completely negative spin on every subject. Second, `new releases and past performance' limits you tremendously. For that matter, you don't know what the past - or present - performance really is. Use all of the available information and separate the wheat from the chaff
> You seem to know a bit about comms issues, yet you also have no
conception about the difficulty in implementing a completely secure,
complex intranet with (presumably) state of the art capabilities.
> I do understand those complex issues. Every day I work on design and implementation of a world wide backbone of terrabyte speeds. Voice over IP, Fax over IP, SS7. You name it with the Internet and I'm working on it.
Very interesting. Why can't you spell `terabyte' correctly? Most professionalscan manage to write the jargon of their own trades accurately.
> You seem to have a serious problem with the number of shares that have been issued. Certainly that number has grown. It has been suggested that the stock has been and is being used as currency for acquisitions. Let's face it, what else have they got? This is not a large number in the penny stock universe. For my part, the authorized share number of 25MM gives me a great deal of comfort. I believe I'll be giving the transfer agent a call on a regular basis from this point on. If that number increases suddenly without notice to the shareholders, then I'll start to worry.
> Again, they have increased the oustanding shares from 4,000,000 to 19,000,000 in less than a year. Guess what? They never consulted anyone. Nevada corp is great! IMHO MS will not comment on the share issue because it's getting ready to change.
As far as I am aware, a nonreporting company is not required to provide any sort of notification to shareholders, regardless of the state of incorporation. Whether they should have notified investors is a different matter. I think they should have done so. Get off the Nevada thing.
> Until then, I am content to wait semi-patiently for hard news. By the
way, your misunderstanding of the float issue was definitely not
impressive. I know I shouldn't drag that up and I'm certainly not going
to address it again, but as before, credibility is at stake.
> How so? Lurker's corner seems to think you guys (the public) own over 8,000,000 shares. And there is only 19,000,000 outstanding? I just find it hard to believe that over 50% of the total oustanding shares are sitting in a public float. Don't you?
I absolutely do not believe that the Lurker's Corner figures are accurate. I think that they are misleading I posted a message stating same some time back. Just yesterday, Harry said that he thought it was inaccurate. So go find a person who actually believes those figures. I findyour terminology (`sitting in a public float `) somewhat curious. It seems certain that more than 50% of the shares are in the float. 13+ million is the quoted number. Do you really not understand what the definition of float is?
> One more question for you. Do you see anything at all positive about FNTN, present or future?
> The picture management paints is a nice picture. But the same applies to all companies. It's anyone's goal to come up with a grand idea. It may sound like a good idea but actually implementing it is a different story. More companies stay private, prove the concept, secure venture capital and IPO.
You didn't answer the question. And, you might be interested to know that FNTN was private and went through an IPO. They did not execute their business plan in a timely manner, which is why the stock price was at $0.25 a while back. Here's a little comparison for you. The high for the stock was about $7. There were 4 million shares out, giving the company a market cap of $28 million. Today, there are 19 million shares out and a stock price of $1.20 or so, so market cap is $22.8 million. So, the market cap is actually smaller at present when the company seems to be on the verge of
(finally) getting their act together than it was when the plan was nothing but a hope and a prayer. We don't know all of the details yet, but some of those additional shares may have been used for acquisitions and presumably further increasing the value of the company above and beyond what was conceived at IPO. Given all of that, and taking all of the inherent risks into account, I think that this thing may still be well undervalued.
After reading your answers these questions, there are a few too many holes in your story for my taste. I can't figure out whether 1) you are just upset about the MTEI debacle and are on some sort of crusade, or 2) trying to pick on something where you have the opportunity
to throw a little jargon around, or 3) are actually short. Regardless of which of these is the real answer - or another that I haven't listed or thought of - I basically do not trust your motives. I will not spend any more time on this.
Since you apparently want folks to recognize you as a sage investor and as an internet expert, I'll leave you with a quote: `But as a good measure, believe none of what you see and half of what you hear.' Sound familiar???
Mike
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