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Microcap & Penny Stocks : ASK: "THE LAST DON" OF MOMENTUM TRADES -- Ignore unavailable to you. Want to Upgrade?

To: Dr. Harvey who wrote (2221)	1/4/1999 8:46:00 PM
From: MoneyMade	Read Replies (3) \| Respond to of 15987

AFRI News...(released after the bell)Monday January 4, 3:32 pm Eastern Time Company Press Release African Resources, Inc. - Micro Cap Company Litigating Against Nations's Third Largest Bank for Unauthorized Trading of Corporate Securities TORONTO--(BUSINESS WIRE)--Jan. 4, 1999--AFRICAN RESOURCES, INC. (OTC BB: AFRI) (AFRI) - a natural resource development company - with gold and diamond concessions located in the Republic of Guinea and gold mining operations in the State of Arizona - announced today, that it is preparing legal action against Chase Manhattan Bank - the nation's third largest bank for sustained damages as a result of unauthorized trading of the company's securities. On April 28, 1998, the company alleges that Chase Manhattan Bank engaged in unauthorized trading of 1,000,000 common shares of AFRI wherein the bank's securities division sold the stock into the open market within a 30 minute period - and depressed the trading value of the shares from $0.60/share to $0.01/share. At the time of the incident, the Company's tradable float was less than 600,000 common shares. The alleged unauthorized traded shares had been entrusted to the legal counsel of a credit facilitator that agreed to maintain the shares in escrow at Chase Manhattan Bank. The Bank allegedly executed the trade without receiving authorization from the account holder. Chase Manhattan Bank executives have failed to return the shares to the account holder, in spite of demands and refusal by the account holder to access the proceeds placed in the account from the sale of the 1,000,000 shares. Over 200 pages of supportive documentation, which the company and account holder believe clearly establishes the facts of this unauthorized transaction, have been reported to the Securities Exchange Commission. The account holder has made a formal demand for the return of the 1,000,000 shares. In the event of non-compliance by Chase Manhattan Bank, the account holder's attorneys intend to seek immediate relief from National Association of Securities Dealers (NASD) arbitration and the Initiation of a law suit against Chase Manhattan Bank. Mr. Rick Brodzik, president of AFRICAN RESOURCES, INC., stated: ''The Company and its shareholders have incurred severe harm by the alleged unauthorized trading action conducted by Chase Manhattan Bank and intends to file appropriate litigation in the courts - in support of the account holder - while seeking monetary restitution for loss of revenues and other damages caused by this irresponsible action.'' Mr. Brodzik went on to state, ''The Company's funding programs sustained a temporary set-back as a result of the trading price of the company's securities being plunged to an all-time low of $0.01/share. However, the Company is in the process of fiscal recovery via the completion of requisite funding programs to implement its gold and diamond mining operations - scheduled to go on-line in the near future. -------------------------------------------------------------------------------- Contact: African Resources, Inc. Anthony Leone, 516/505-5880 --------------------------------------------------------------------------------

To: Dr. Harvey who wrote (2221)	1/5/1999 1:41:00 AM
From: Dave Gore	Respond to of 15987

Well, then continued volume will overcome supply. It is just a matter of time. That can be an advantage....this company is not a good one to short. With $6 mil in new revenue from Millenium and the entre into the MDU, I have to believe if there is a supplier of stock, they are almost done. Why would they not have waited for it to run to over $1.00 before shorting if what you say is true? Let's see what happens at CES and the news coming?