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Microcap & Penny Stocks : IELSF-Flight to Fortune Or? -- Ignore unavailable to you. Want to Upgrade?

To: Carl R. who wrote (456)	10/30/1998 12:41:00 AM
From: Intrepid1	Read Replies (1) \| Respond to of 520

Carl, what these bandits are doing is using a long account to sell on a downtick; and then shorting on any uptick. If they sense the stock price getting away they hit the bids, and go heavy on the offer. Since they can convert at a discount to the prevailing market price they make money at any price. These guys are very sophisticated, know all the tricks and have been doing it for years with many other unfortunate (stupid) companies. Your argument is not sound because you leave out the discount conversion factor,[edit] the fact that floorless means there really is no set conversion price so there is no price to protect; and the knowledge that heavy shorting combined with selective downticking can break the back of most stocks. Floorless bandits are sociopaths who will drive a stock down to a fraction of a penny if there is a profit in it for them. The IELSF Board who okayed this financing is either completely incompetent or in bed with the bandits. I personally do not believe the Board is in bed with the bandits but it has happened in other floorless situations. best wishes purething