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Microcap & Penny Stocks : Zia Sun(zsun) -- Ignore unavailable to you. Want to Upgrade?

To: afrayem onigwecher who wrote (355)	4/11/1999 9:56:00 PM
From: afrayem onigwecher	Respond to of 10354

Bloomberg Exposes GARD quote.bloomberg.com The company's press release about its new technology received wide attention because it included the names and stock tickers of 17 of the largest Internet and computer companies, including Microsoft Corp., America Online Inc. and Dell Computer Corp. The release introduced the list by stating that GS Telecom is ''standing on the shoulders of such giants.'' The presence of those well-known names automatically sent GS Telecom's release onto the computer screens of investors who were conducting searches for information about those companies. The practice is known as ticker spamming in the business of disseminating press releases electronically. Hands Off Kathy Baron Tamraz, a spokeswoman in New York for Business Wire, which distributed GS Telecom's release, said her service doesn't strip out company names or their stock ticker symbols from releases. ''We're not journalists or reporters,'' she said. John Evans, a spokesman at PR Newswire, said the rival press release distributor banned ticker spamming because it created ''the illusion of a relation that didn't exist.'' He said the practice angered investors, exchanges and the non-associated companies mentioned in releases. ''We only include tickers that are relevant to the news being announced,'' he said. Company spokeswoman Lori Chittenden acknowledged that playing up prominent industry names -- even though GS Telecom has no relationship with them -- could have contributed to investors' sudden enthusiasm for GS Telecom stock. She said including the names was ''just for decoration.'' GS Telecom has a San Francisco office, Chittenden said, though she didn't know its precise location or telephone number. GS Telecom officials in London weren't immediately available 'The company has been in (research and development) status since 1984,'' said Theodore Brandon, an analyst at Barrington Financial Securities, which he said has worked as the company's underwriter. As of Dec. 31, GS Telecom ''had no substantial product, services or properties and required significant additional funding to satisfy outstanding obligations and to commence operations,'' it noted in a filing with the Securities and Exchange Commission on Friday. GS Telecom had $32 in the bank on Dec. 31, the date of its most recent balance sheet. Its current liabilities exceeded current assets by $1.7 million as of that date, and it was in technical default on $212,400 of demand notes, according to its SEC filing.