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Microcap & Penny Stocks : Spa Faucet (DRIP) -- Ignore unavailable to you. Want to Upgrade?

To: Gregory Seward who wrote (130)	11/13/1998 9:04:00 PM
From: Mahatmabenfoo	Respond to of 141

the absence of news is what happening when a pump house stops pumping. DRIPS faucets pumped more hype than water. anyway the company appears to have done designs, not manufacturing, and whatever they did lead them to bankruptcy if I am reading this correctly. - Charles ==== DRIP the trading symbol for faucet seller Spa Faucet was once the great hope of ECO2 shareholders, in that ECO2 once claimed (when there were still people around to claim things) that to own 51% of it. It's stock soared, split, announced an imminent plan to be listed on AMEX... and many ECO2 investors were swindled again by being encouraged to invest also into DRIP. DRIP dropped long ago -- after ECO2 somehow sold its interest back to DRIP's principal shareholder for almost no money. The real crash came after an aborted merger with a company trading symbol HMAT which was perhaps part of the ECO2/DRIP peas under a walnut shell of illusions. As recently as July DRIP had some value (around 40 cents / share), but has since dropped to nothing. Apparently, DRIP entered backrupcy Aug 31st, at least if I am reading this report correctly CALIFORNIA SPA FAUCETS, INC. 8/31/98 Plumbing faucet wholesaler, Chatsworth, CA ASSETS: 2,240,000 No. 98-22101 LIABILITIES: 7,017,794 CHAPTER 11 PRINCIPAL: Leonard Sudman CONTACT: Steven M. Spector, 2049 Century Park East, 34th Fl. I love post-scrips don't you? Charlie Ledford sailing off into the sunset on a powerglider fueled by old tires.... are you making a film of your adventure? I'd buy a ticket....

To: Gregory Seward who wrote (130)	12/22/1998 2:16:00 AM
From: Mahatmabenfoo	Read Replies (1) \| Respond to of 141

One of the little ironies in the ECO2 affair was the way that SPA FAUCET, its once 51% owned subsidiary, became a founding member of a organization dedicating itself to "full disclosure" to investors. Perhaps the old ECO2 hands here will be interested to know that SPA has been suspended, although that fact doesn't make me any more confident that the organization does not have as its real purpose to encourage confidence where none is deserved. Here's some recent correspondence about it between me and the organization. - Charles ========================================= >And now SPA is bankrupt -- so I was right. > >Your "standards" organization is the fraud I said it was. Nasty business. > > - Charles > >============ >>>SPA FAUCET has a right to use your seal? Are you joking? Do >>> you know what a laughing target this makes your organization, >>> or are all of your members as tainted by self-dealing and >>>fraud as DRIP is? ======= REPLY ============== Subj: Re: SPA FAUCET Date: 12/21/98 10:01:30 PM Pacific Standard Time From: iri@investorsresearch.org (IRI) To: CBKNYC@aol.com Solvency is not a standard. Accessibility, disclosure and scrutiny are the standards. As noted before, our responsibility, once our website is established for this purpose, is to note the progress or lack of it for companies pledging to adhere to the 'seal'. Anyone may join our organization and/or participate in the annual hearings which establish the 'Seal's' requirements. A company must pledge to adhere to the standards listed at our website at investorsresearch.org . If they are not meeting the standards set there, DRIP may be placed on our "watchlist", "temporarily suspended" or "suspended". Due to the company's failure to respond to our inquiries about its solvency, or to report that to the public, it has been temporarily suspended.