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Microcap & Penny Stocks : JAWS;A P/E of 2 with 150%/yr Erngs Growth!! -- Ignore unavailable to you. Want to Upgrade?

To: FingerLakes who wrote (2931)	9/24/1998 4:49:00 PM
From: Doug T.	Read Replies (2) \| Respond to of 4230

Just found this! (REUTERS) Internet chat leads SEC to probe boat distributor Internet chat leads SEC to probe boat distributor By Ilaina Jonas WACO, Texas, Sept 24 (Reuters) - Great White Marine & Recreation Inc.<JAWS.OB>, a distributor of powerboats and other marine equipment, said Thursday it is being investigated by federal regulators in the wake of an Internet chatroom participant's accusations of wrongdoing against the company. The chatroom talker accused the company of failing to disclose that it had paid for articles about it that were published in certain investment newsletters. A company representative told Reuters the accusations are false, and said Great White is cooperating with the U.S. Securities and Exchange Commission (SEC). "Great White has gotten an extreme amount of attention in (chatrooms)," Jeff Brummer, an investor relations representative told Reuters. "There have been false rumors and accusations by an individual on the company. There had been some bashing on Yahoo," he added. The rumors have hurt the company's stock with enough frequency to make Great White suspect its shares may be at the mercy of short sellers. The company's shares sold off sharply after news of the SEC investigation was released Thursday, falling $1 to $2.40625. Its high for the year was $4.50, and its low was $0.50. For its part, the SEC has subpoenaed copies of several newsletters and other information from investment consultants for Great White, which, until May, was known as Tigershark Inc. <TGSK.OB>. The company distributes products ranging from big cabin-cruiser style power boats, to outboard motors and even all-terrain vehicles. Among those newsletters that the SEC wants to review, is S.A. Advisory, which recommended what was at that time Tigershark, said Scott Citra, another Great White investor relations representative. Brummer did not deny that the company paid for some newsletter articles, but said, in such cases, a disclosure always appeared with the story. Brummer and Sitra said they too have received subpoenas requesting their personal information about the company. Regarding the possibility of concerted short selling, both Sitra and Brummer said the company has complained to its congressional representatives about the possibility of illegal short selling on false rumors about Great White on the Internet. "He ends up hurting the small investor, while he thinks he's a white Knight," Brummer said. "For some reason this person has an ax to grind with the company." Neither Brummer nor Sitra would identify the man, even though he is well known to the company. But Sitra did say the man uses his own name as well as aliases in the chatroom. ((-- New York Equity News 212 859-1700, fax 212-859-1717 or nyc.equities.newsroom@reuters.com)) REUTERS * end of story *