To: dumbmoney who wrote (131 ) 4/12/1999 9:42:00 PM From: afrayem onigwecher Read Replies (1) | Respond to of 148
Stocks that set off red lightscbs.marketwatch.com Stock Detective's Web site is running a regular column called Red Light District in which its writers try to ferret out stocks that set off alarms for any one of a number of reasons; volatility, outrageous claims or wild price swings. And on the latest Red Light list is a company called Shopping Sherlock, Inc (sslk: news, msgs). Stock Detective says the company's stock suddenly spiked recently and the only apparent reason was a company news release announcing a reverse merger into an empty shell. The company, says Stock Detective, says it plans to develop an Internet based shopping mall, but with what, Stock Detective isn't sure. It says the company has almost no cash and no apparent operating business. Its Web site offers an investor relations kit download that Stock Detective says was empty. And it says to top it off, investor relations are run out of the Caribbean and there's a zero in the financial information column. Enough, says Stock Detective, to stop investors dead in their tracks. Read the full story. Also on the Red Light List is GS Telecom Ltd (gard: news, msgs). The company's prospectus posted on its Web site says it plans to develop and sell things like the ultimate debit card and a computer that fits on a credit card, and it will have more than $1 billion in sales by 2004. But Stock Detective says the company doesn't have a penny in the bank and there's no evidence it has sold a single unit of its technologies. It also says GS Telecom reversed itself into a shell last fall and the number of shares outstanding has grown from 16 million to 72 million. Stock Detective quotes one of its readers who says, "No patents, no products, no customers, no R&D, no earnings, no capital, no cash, no revenue, no employees, no office..." and Stock Detective says "No Way." Jeff Clabaugh writes for CBS MarketWatch from Washington. For more breaking news, visit our Front Page. Also, search our news archives: Ticker Keyword (For more options use our Advanced Search) CBSMW MarketPlace • Want the best mortgage rate around? Check out our loan center New! • Best Flower and Online Gift Shop: JustFlowers.com • Discover all kinds of fun, innovative gifts @ sharperimage.com • MarketWatch MarketPlace: Click to shop for great deals. Free Products/Trials • FREE 2 week AUDIO subscription to The Wall Street Journal! New! • Check out Baseline's free Company Report of the week. • Free trial subscriptions to investment newsletters. • Free annual reports for hundreds of companies. News Front Page • News Index • Headlines • NewsGuide • Search • Newsroom Staff Data & Tools Market Data • Market Monitor • Charting • Portfolios • Discussion • Trading Center Topics Mutual Funds • Personal Finance Company Company Information • Advertising • Media Kit • Feedback • Jobs Services MarketWatch RT • MarketWatch Live © 1997-1999 MarketWatch.com, Inc. All rights reserved. Disclaimer. CBS and the CBS "eye device" are registered trademarks of CBS Inc.