To: TokyoMex who wrote (36972 ) 12/30/1998 9:42:00 PM From: MoneyMade Read Replies (1) | Respond to of 119973
IFLY,SEC NEWS...I can't seem to find you dude!! Beware IFLY MSNBC article: Here are some excerts followed by the URL link: "So I doubt anyone at the SEC or Nasdaq or anywhere else will be rushing to ask why it was that an obscure Nasdaq SmallCap stock named 800 Travel Systems Inc. (IFLY) sold for $6.75 last Wednesday yet by 4 p.m. Monday was selling for $16.12. This company, which went public last spring at around $5 per share, quickly sank to barely $1 in the after-market, and was still selling for barely $4 as recently as Thanksgiving week. Then came Monday when, for no apparent reason, the stock nearly tripled in a day, on roughly 70 times normal volume. Here's the good part: "Why? One good place to start looking for answers would be the co-underwriter of the Company's IPO: First Liberty Investment Group Inc. The SEC investigated an employee and a consultant of the firm, a microcrap underwriter, as part of a 1997 probe of penny stock swindlesk. If that avenue leads nowhere, then investigators might ask questions of at least one IFLY board member: Pasquale Guadagno. Guadagno may be pure as the driven snow in all this, and no evidence is known to suggest otherwise. But he might have some helpful suggestions for investigators since prior to joining IFLY's board he served as a senior vice president of a now-defunct Boca Raton swindle-shop, Euro-Atlantic Securities, that was expelled from the National Assocition of Securities Dealers for market manipulation and deceptive sales practices. Maybe Pasquale has some thoughts on how IFLY got from $6.50 to $16.12 in a day." Source: msnbc.com