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Microcap & Penny Stocks : Amazon Natural (AZNT) -- Ignore unavailable to you. Want to Upgrade?

To: bmart who wrote (6377)	9/19/1998 3:16:00 PM
From: Janice Shell	Read Replies (1) \| Respond to of 26163

I stand by my diligence 100%. Really? Does this mean that you still contend that Dr Daaboul plans to begin experimenting with ToN on his diabetic patients? And that Rick Marchese, formerly of Power Securities, is the person who took over Andy Mann's short position? You're really dumb, bmart, and it just may get you into trouble.

To: bmart who wrote (6377)	9/19/1998 3:16:00 PM
From: zonkie	Respond to of 26163

oag.state.ny.us >>>J.B. Oxford Search Warrant J. B. Oxford ("Oxford") is a licensed broker-dealer based in Beverly Hills, California that provides clearing for penny stock firms. Irving Kott, a convicted Canadian securities swindler, has long been identified as the unregistered control person of the firm.(113) Oxford was the clearing firm for the notorious Stratton Oakmont when the NASDR forced it to cease operations.(114) On August 19, 1997 federal law enforcement agents made Oxford its target, executing a search warrant at both its headquarters in California and its Basel, Switzerland office.(115) The alleged presence of an undisclosed criminal element in the clearing business demonstrates some of the difficulties faced by law enforcement in connection with the micro-cap stock industry. <<<<<< >>>>>Sterling completed the public offering of 1,000,000 shares of Advanced Voice Technologies, Inc., ("AVTI") on February 7, 1995 and opened the stock for trading on the NASDAQ Small Cap market at noon. By the end of the day Sterling was short 2,120,560 AVTI -- thus, they were obligated to deliver shares they did not own in an amount almost double the company's public float. Nevertheless, the 958 public customers received confirmations(issued by and payable to Bear Stearns) that their orders were "filled" on February 7th at prices of $12.25 to $12.75 per share. At the day's closing price of $13.50 per AVTI share the firm's short position was valued at $28,627,560. The firm's net capital as of January 31, 1995 was only $2,666,000. The NASDR charged that the president and owner of Sterling had "a prearrangement or preconceived scheme to release the lock-up agreements" on shares of AVTI insiders to cover this short position, as the firm subsequently purchased 2,014,756 shares @ $2.00 per share from such insiders. Sterling Foster thus obtained a profit of over $20,000,000. Could this profit have been obtained without the knowledge and forbearance of Bear Stearns that the $28.6 million short position would be satisfied in the manner described? Further, Bear Stearns is reported to have "put up $1.1 million of its own capital to float Baron back up to minimum levels," in the fall of 1995.(123) Bear Stearns maintains that this mischaracterizes the transaction.(124) <<<<