Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Lyle Bean who wrote (37964)	5/3/1999 10:58:00 PM
From: TWICK	Read Replies (1) \| Respond to of 120523

Well, It's an OTC:BB. Why is it not a "listed" company on the NASDAQ big boards ? I always ask myself that question when I see a BB. If it's so good, why is it trading as a pink-slip on the OTC:BB board ? It did a 1 for 25 reverse stock split on March 19th. Even though they hired a former head of equities trading of Knight/Trimark, it still makes be very cautious. I'd be careful and only invest with risk capital. This is kinda scary: Tuesday March 30, 11:02 am Eastern Time Brokerage Alexander Wescott sells itself to Intrex NEW YORK, March 30 (Reuters) - Small brokerage Alexander Wescott & Co. Inc. on Monday said it sold itself to Intrex Inc. (OTC BB:INEX - news), a shell corporation with no operations, for about $28 million in stock. The reverse merger deal gives Alexander, which recently bought Intrex for $100,000, a public listing, albeit on the over-the-counter Bulletin Board for small stocks. Alexander, which posted an $85,000 loss on revenues of $7.1 million last year, sold itself for 13.5 million Intrex shares, or about $28 million at current prices. Intrex, which previously had real estate and travel service operations, had been an inactive company for some five years, said Carl Walston, Alexander's president. Alexander of Utica, N.Y., bought the empty shell earlier this month, injected $1 million in capital, and effected a one-for-25 reverse stock split. Intrex now has about 20 million shares outstanding, of which Alexander now holds around 15 million and the public some 5 million shares, Walston said. The company will likely keep the Intrex name and buy another brokerage soon, he added. Alexander, which employs 25 people, last year closed retail operations and now is focusing on stock trading for financial institutions and private placements for companies.