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To: Blitz who wrote (10870)10/28/1998 1:04:00 AM
From: ~Owl  Respond to of 11684
 
Although others had heard of it before, I hadn't known about the similar shareholder unfriendly experiences of CVST, courtesy some familiar names . . . with author's permission, as posted on YaHOO!

~Owl

>>Message to the SEC regarding Gort/Christensen

To whom it may concern,
Recent activities of the stock CVST, now known as cvstd, have led
me to send in this complaint. I want to know how a group of
individuals like John Christensen, CEO of CVSTD, and Joe Gort,
investor relations rep for CVSTD, can get away with what they are
doing. The stock recently did a reverse split after trading hours, 75
to 1, at which time the stock became valued at over $200 a share.
Before the market opened the next day, the price was already back to
the $5 dollar level. In the after hours time frame shares were dumped,
presumably by insiders, and this left the average investor holding
roughly 12% of his/her original value the day before. How do companies
keep getting away with this? why is the OTC market so loosely
regulated? This is exactly the same methodology that was used by HCCA
when it reversed and became HCCAD. No notice was given of the reverse,
and the simultaneous symbol change made it nearly impossible for an
investor to get out of the stock early enough to cut losses. By the
time they figure out the new ticker symbol and check it out, they have
lost it all. This needs to stop!

mickf99 <<



To: Blitz who wrote (10870)10/28/1998 1:34:00 AM
From: Patricia Trinchero  Read Replies (2) | Respond to of 11684
 
It would have been very convenient for Gort to have issued that sloppy press release ( the last PR about the additional land purchase)while he was shorting the stock through a Canadian company he owned. That's a Convenient Concept if I ever heard of one!! The PR guy releases obviously dubious PR while shorting his own company through Canada!! Do we all remember how Jack was irate and supposedly fired Gort as a result of this PR? Gort must have been laughing all the way to the bank!!!!

Pat T.