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Technology Stocks : SFLK SOFTLINK INC. Should the SEC halt this one? -- Ignore unavailable to you. Want to Upgrade?

To: azdays who wrote (36)	2/12/1999 12:02:00 PM
From: StockDung	Read Replies (1) \| Respond to of 48

Hey did you guys see USAT. I do not lie!!!!! USA Talks.com Shares Tumble After Two-Week Halt by SEC San Diego, Feb. 12 (Bloomberg) -- USA Talks.com Inc., which plans to offer unlimited long-distance telephone service over the Internet for a flat fee, tumbled as much as 89 percent when it resumed trading after a two-week halt by U.S. regulators. The U.S. Securities and Exchange Commission suspended trading of the San Diego-based company's shares on Jan. 29 because of questions ''about the accuracy and adequacy of public information on USA Talks.com.'' The securities watchdog said it questioned the status and extent of the company's business. USA Talks.com fell 9 5/8 to 3 1/2 in early trading, after sinking as low as 1 1/2. The last traded Jan. 28 at 52 1/4, a 21- fold increase from their low of 2 1/2 on Oct. 14. The company has since split its stock 4 for 1, so its stock price would have been 13 1/16, based on the last trade. ''We're in full compliance with the SEC,'' Maggie Yates, the company's marketing director, said in an interview Tuesday. Since the halt, USA Talks has denied that it publicly predicted rapidly growing earnings and revenue. In promotional materials it distributed last month, USA Talks.com projected earnings of $16 million on revenue of $85 million this year. It also said profit would rise to $43 million on revenue of $227 million in 2000. President William Ervine made similar estimates in an interview. On Tuesday, the company's attorney said the estimates didn't come from USA Talks.com or Ervine. USA Talks also delayed plans to begin charging customers for long-distance service until March 1. It wants to offer telephone service for between $20 and $60 a month. Customers place calls using an ordinary telephone, and the calls are transmitted over the Internet. The company had planned to start charging Feb. 1. USA Talks on Feb. 2 fired Trendmark Inc., its marketing company, because ''their sales didn't meet our expectations,'' Yates said. It also canceled plans to buy the Memphis, Tennessee- based company. Trendmark had sold the long-distance service through its network of 15,000 distributors. As of two weeks ago, all USA Talks.com customers were Trendmark distributors who set up the service for their own use, Trendmark Chief Executive Robert Gates said last month, before his firm was dropped by the phone company. USA Talks.com, on Sept. 14, agreed to purchase Trendmark for shares worth $144 million as of the trading halt. On Sept. 23, the Federal Trade Commission accused Trendmark of misleading consumers with false claims about its ''Thin-Thin'' diet program. The company settled by agreeing not to lie about the products in the future. Ervine, an attorney, said he wasn't aware of the FTC's action until after he signed the letter of intent to buy Trendmark. Gates disagreed, and said USA Talks was aware of the FTC action. USA Talks had no revenue and lost $1.4 million in the first nine months of 1998, according to SEC filings. Ervine said the company had sales through Jan. 27 of about $230,000. 09:58:40 02/12/1999

To: azdays who wrote (36)	2/12/1999 12:06:00 PM
From: StockDung	Respond to of 48

Maybe we can have tea and biscuts and chat about old times. floyd

To: azdays who wrote (36)	2/12/1999 12:06:00 PM
From: StockDung	Respond to of 48

Maybe we can have tea and biscuits and chat about old times. floyd