On behalf of BFN, I would like to respond to rumors last week that BFN was responsible for some or all of the selling of MGVN shares late last week. Like much of the information people on threads claim to "hear," this is a rumor...and a false one at that. BFN has been compensated with 10,000 free trading shares of MGVN, all of which are currently being held in a corporate account. Neither BFN nor the principles of BFN yet to sell a single share of MGVN. BFN is approached by many, many companies seeking our investor relations and profiling services. Yet, do to our desire to not overwhelm readers, we only profile a select group of companies and attempt to limit the number we present to subscribers. BFN and the principles at our company believe very strongly in the companies we provide services for and have very high hopes for the long term gains of the shares of these companies. Thus we are unwilling to settle for a small in shares price and instead tend to hold our shares for a longer period of time in hopes of seeing the share price appreciate over time. If BFN were interested in immediate cash, we would simply not accept compensation in the form of shares, and would instead take cash. However, for those companies we truly believe in (which is any and all profiled on our sites), we often prefer and take compensation in the form of shares and additionally the principles oftentimes purchase shares in the open market. BFN believes in standing behind the companies brought to subscribers, and what better way to do so than be shareholders ourselves. Thus BFN has no problem holding shares over a period of time and certainly refrains from selling shares immediately following compensation.
This said, BFN does from time to time liquidate positions in these companies over a long period of time in order to raise cash to pay for the day to day operations of the company. Although we would prefer to hold onto all of the shares with which we're compensated, the fact of the matter is that we're running a business and are in need of cash for salaries, marketing, web site design/management, and sub-contract fees. As BFN is predominately compensated with shares, it is clear that from time to time these shares will be sold off in small blocks in order to raise funds for those typical business costs. This should come as no surprise to any of you.
I hope this has cleared up any questions pertaining to BFN's compensation, interest in MGVN, and trading habits. Please contact me if you have any other questions that need clearing up. Please also be advised of our disclaimer below. None of the above should be construed as advise in any way or form. Investors should not base their investment decisions upon those of BFN or the principles of BFN.
Ian Wyatt
President
Business Financial Network, Inc.
Web: bizfn.com
E-Mail: iwyatt@bizfn.com
DISCLAIMER
© Copyright 1999, Business Financial Network, Inc. All rights reserved.
Business Financial Network, Inc. is not a Registered Investment Advisor or a
Broker / Dealer. This communication reflects opinions from Magnum Ventures
Inc.
(the Company). Readers are advised that this electronic publication is
issued solely for information purposes and is not to be construed as an offer
to sell or the solicitation of an offer to buy.
The opinions and analysis included herein are based on sources believed to
be reliable and in good faith but no representation or warranty, expressed
or implied, is made as to their accuracy, completeness or correctness. This
information is not intended to be used as the sole basis of any investment
decisions, nor should it be construed as advice designed to meet the
investment needs of any particular investor. The foregoing discussion
contains forward-looking statements which are based on current expectations
and differences can be expected.
The information contained herein has been provided by the Company to
Business Financial Network, Inc. for information purposes only; in
addition, the information contained in this report is not intended to be a
complete discussion of information regarding some of the current and/or
intended business activities of the Company.
Readers are urged to consult with independent financial advisors with
respect to an investment in the shares mentioned herein. Investors should
review a complete information package on the Company, which should include,
but not be limited to, the Company's annual report, quarterly report, press
releases, as well as all regulatory filings. All information contained in
this report should be independently verified with the Company mentioned
herein. Any opinions expressed in this report are statements of judgment as
of the date of publication and are subject to change without further
notice, and may not necessarily be reprinted in future publications or
elsewhere. Neither Business Financial Network, Inc. nor its officers,
directors, partners or employees / consultants accept liability whatsoever
for any direct or consequential loss arising from any use of this report
or its contents.
Business Financial Network, Inc. has been paid a fee of 10,000 free trading
shares of Magnum Ventures Inc. (Pink Sheets: MGVN) by Tech Equities Inc. for
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The Company. Employees and/or principals of Business Financial Network,
Inc. may purchase shares on a voluntary basis in the open market and may buy
or sell shares in this company or others without prior notification
depending on market conditions and personal financial circumstances.
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THE READER SHOULD VERIFY ALL CLAIMS AND DO THEIR OWN DUE DILIGENCE BEFORE
INVESTING IN ANY SECURITIES MENTIONED. INVESTING IN SECURITIES IS
SPECULATIVE AND CARRIES A HIGH DEGREE OF RISK.
We encourage the reader to review the investing information available with
the Securities and Exchange Commission ("SEC") at sec.gov and /
or the National Association of Securities Dealers ("NASD") at
nasdr.com. Readers can review all public filings by the Company
at the SEC's EDGAR page. The NASD has published information on how to
invest carefully at its web site. |
