To: Michael T Currie who wrote (18905 ) 3/9/1999 10:56:00 PM From: Jay Fisk Respond to of 122087
RE: JBOH - Found this on the 3Dfx thread, interesting behind-the-scenes price-propping ? To: Jeff Lins (11028 ) From: Sun Tzu Tuesday, Mar 9 1999 7:07PM ET Reply # of 11035 OT -- Oh, and add to my list NOVL. Defenitly a lot of potential there. On the short side, consider OMKT, SIEB, and JBOH. Incidently, JBOH shareholders deserve to lose their shirts and then some. As if it was not obvious enough that the it ran up from 3/8 to 25 only on hype and manipulation (they still think they'll surpass the old highs), A big shareholder of the company offers to sell his 470,000 shares back to the company for $1.25, instead of selling them in the open market at present price of $9. The company has agreed to the deal because the increase in the float would kill the stock price. The big holder also agreed because he knows that (a) the shares are not worth a $1 and (b) the market will not bare his excess supply. I can't think of a greater danger sign than when an insider offers to sell his $9+ shares at $1.25. Rather than questioning why the amazing generousity, the herd bought into the party line that ''This transaction is very beneficial to the company,'' said JB Oxford Holdings Chairman and Chief Executive Officer C.L. Jarratt. ''In exchange for relinquishing our right of first refusal on the Oeri holdings, we were able to effect the purchase of our stock at a significant discount to current trading levels and erase a substantial portion of the debt owed to Oeri Finance. This transaction marks one of the final and most significant steps toward ending JB Oxford's association with Felix Oeri and his investment firm.'' They actually bid the price up! Some people do not deserve to have money. They should just give it to me <VBG>. Sun Tzu