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Pastimes : Don't Ask Rambi -- Ignore unavailable to you. Want to Upgrade?

To: accountclosed who wrote (21584)	4/14/1999 7:53:00 AM
From: ColleenB	Read Replies (1) \| Respond to of 71178

Oh, good heavens I would be a fool to short a 1-2cent stock that had 1.1Billion shares issued. I'm not happy with PABN because I lost a boat load of money based on claims made in their PR's. Claims which declared that acquisitions were FINISHED/completed and that they had government backed mortgage loans to do business in Belize. All of these claims have turned out to be bogus. Claims that were kept alive for almost an entire year by company leaks, PR's, shareholders meetings, the company website and letters by the CEO. As it so happens, a company cannot do business in Belize without going through certain channels, which PABN never did. And the acquisition, it never happened. Only after 9 months of claiming this repeatedly as a done deal, the CEO issued a statement on the company website that the acquisition had been regrettably terminated. The real truth is it never happened. The stories continue and are all just as grand as any predecessor. There is a lot of arm waving by the company, essentially, nothing has been completed that they've claimed other than the opening up of two small trading offices. It appears to be a lot of hocus pocus to me, and people are basing their investment decisions on claims made by the company. However, they keep making more and more promises via leaks which keep people greedy and invested. And the longs keep these stories alive or continue to make excuses for the company's mishandling of the claims made because they are a young company and that one should expect a young company to make mistakes. IMO, mistakes are one thing, but claims that take people's money are another. The longs find it much more convenient to blame other investors who are speaking out rather than demand explanations from the company. I think the source for yesterday's movement was from coverage provided by 3 newsletters. This is a bit suspect to me because the company had been doing nothing and then all of a "sudden" they get coverage and a new set of touts on the various threads. The news that was released was nothing spectacular, in fact it was OLD news. And if you closely examine the charts for yesterday's trading activity, it appears that there was a lot of dumping going on (the CEO admitted last month that 144's were coming off of restrictions). Dumping has been going on for some time. I recently researched and discovered that the float had increased by 100Million shares in the last 8 months. The spike to 9cents lasted less than a minute and the price immediately fell to 3.8cents. The volume associated with that spike is also nothing spectacular. IMO, it could have been some market orders the MM's screwed people with. It will be interesting to watch and see what happens now that there's a new group of investors involved with the stock, and if the news is delivered today as was hinted at. With 1.1Billion shares, I'm looking for a RS to occur, a whopper of one as the company wants to get listed on the Nasdaq.