To: TokyoMex who wrote (46853 ) 1/25/1999 6:56:00 PM From: manny t Read Replies (1) | Respond to of 119973
CENL, Does anyone remember Centennial Technologies,CENL? Centennial Technologies,traded in 1997 as CTN on the NYSE,was the highest percentage gainer in that year,only to be de-listed in 1998 for fraud perpetrated by it's Chairman a Mr. Pinez,who I think is still in jail awaiting trial. Remarkably, the company has just settled it's lawsuit with it's stockholders,with the payment in cash and CENL stock to be distributed by the first quarter of this year.The last 2 quarters have been profitable for this company,with this quarter's earnings coming out the first week of February(next week). Something is going on!!! The stock has gone up in increments of approximately 20 cents each trading day for the last 3 days.It finished today at 1.31 up 23 cents. The volume has gone up as well,with Friday's volume at slightly less than 500,000 shares and today's volume at 733,500 shares. The reason why this stock is interesting,is that all that stays in the way of this company's relisting is that it's price stay at 5 or above for a certain period of time.(it already has had 2 profitable quarters,which is one of the other requirements.)Centennial was a profitable company before the fraud was perpetrated.The problem is that Mr. Pinez wanted CENL to be the premiere company in PC cards. It is alleged that he arranged to ship empty boxes to companies,and created fake invoices of over 6,000,000,for which he paid for with his money.He figured that he would be more than compensated for his outlay with the appreciation of his CENL stock.This is exactly what happened, until his fraud was uncovered.Before the fraud was uncovered,the stock went from under 10 dollars pre-split to over 200 dollars pre split.The stock is now 1.31 post-split. My interest in posting this item is obvious.I do own many shares of this stock.Unfortunately my average cost is around 8 dollars,only after averaging down with a SUBSTANTIAL purchase of stock.My interest is to recover my costs as fast as possible. Since I know that on this thread reside some of the sharpest traders, I will give you the telephone number of Centennial so you can do your own DD. The number is 1-978-988-8848.Their web address is www.cent-tech.com. You can access a recorded message tonight from their Investor Relations, if you call the above number and press the number 3. I have absolutely no other information on this company,other than what I have just elaborated.The downside is 1.31.The upside will depend on the earnings next week,and the desire of those like me who have or will average down on CENL once they are sure that Centennial Technologies is here to stay.The new purchasers of this stock will profit handsomely if the stock continues to rise. I will appreciate if you will post to me if you have any information,or thoughts on this stock. TIA, Manny T.