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As many of you might know, legitimate brokerage firms publish research on stocks. These firms have brokers that are licensed, and are strictly regulated. Nothing even remotely resembling an opinion of a particular issue or stock goes out of the firm without intense scrutiny. These brokerage firms, as a rule, adhere to the law. They are not paid for their work, because it would constitute what they feel might be a conflict of interest. They might be accused of accepting compensation for a positive statement about some particular stock. Then we have things that look like they came from a brokerage firm, but maybe they didn't. Sometimes, these things can be slick. They can be designed to look like they are opinions from people who have nothing to gain, when the truth is that the positive comments are being paid for, and that might just be the only reason the positive comments even exist. You can make up your own mind. I'll just point out some facts. First, there just happens to be a law about this stuff: It shall be unlawful for any person, by the use of any means or instruments of transportation or communication in interstate commerce or by the use of the mails, to publish, give publicity to, or circulate any notice, circular, advertisement, newspaper, article, letter, investment service, or communication which, though not purporting to offer a security for sale, describes such security for a consideration received or to be received, directly or indirectly, from an issuer, underwriter, or dealer, without fully disclosing the receipt, whether past or prospective, of such consideration and the amount thereof. law.uc.edu That's pretty clear cut, don't you think? That's pretty simple to grasp. "...unlawful..." it says there. You do these things and you are BREAKING THE LAW. That means you could get arrested, right? You could go to jail, right? That's what that means, right? Now, here is a new thread on SI: Subject 30859 I want to say right up front here that I know nothing about "Valentis Inc." For all I know, it's a great company. I have nothing against it. And here is the person that created the thread, "BridgeTech": Member 4968659 I know nothing about "BridgeTech", he or she might be a fine person for all I know, I have nothing against him or her personally. It seems that BridgeTech is interested in the same exact stocks as this site that he or she keeps putting a link to, I can see that. Now back to the thread. #Subject-30859. There are some interesting things about this thread. First, the word "buy" is capitalized. That seems like maybe uh...whoever wrote it wants me to buy the stock, eh? I don't know for sure, I'm thinking out loud here. It doesn't SAY I should buy the stock, it just has the word "buy" capitalized. Next, it mentions a "release". Not a press release, a "release". That's interesting. Good thing I didn't get confused and think BridgeTech was talking about a press release. I see no mention that BridgeTech or this site he has a link to are getting paid to promote this stock, so that's good. He is posting the thread out of the goodness of his heart, I assume, to help me in my investment objectives. He obviously doesn't know me personally or he would know I never buy Bulletin Board stocks. I wonder if this stock he has started the thread for is a Bulletin Board Stock. There is no mention of the exchange on his thread title, so maybe it is a New York Stock Exchange Stock. I like that. So I check out this site he has linked for the "release" on www.smallcapsonline.com Cool! There is a little story about the stock! It mentions "buy" again. and there is a link to the "release". It looks kinda like a press release link. And they "initiated coverage" with a "buy". This really sounds like a brokerage firm, you know? I wonder if this is a brokerage firm. No mention of the exchange the stock is listed on, but there's a mention of Glaxo Wellcome, Eli Lilly, and Roche! Bitchin'! I know those companies! They trade on the New York Stock Exchange! I'm liking this, this is sounding pretty good! Click on that link to see the release, and WAY DOWN AT THE BOTTOM I SEE THIS: The information in this report has been obtained from sources that we believe to be reliable, but we do not guarantee its accuracy or completeness. Neither the information nor any opinion expressed constitutes a constitutes a solicitation by SmallCaps Online Online LLC for the purchase or sale of any securities. SmallCaps Online LLC or its affiliates has performed investment banking, consulting or other services for or may solicit investment banking, consulting or other business from, any company mentioned in this report. SmallCaps Online LLC or its affiliates or persons associated with SmallCaps Online LLC or its affiliates may at anytime be long or short any of the securities referred to herein and may make purchases or sales thereof while this report is in circulation or posted on the SmallCaps Online LLC website at www.SmallCapsOnline.com. This material, or any portion thereof, may not be reproduced without prior permission from SmallCaps Online LLC SmallCaps Online LLC is not responsible for the contents of this document that is intended for electronic transmission and could be thus subjected to tampering or alteration. Copyright © 1999 by SmallCaps Online LLC. All rights reserved What is this? What is this deal here? Let's see if I have this straight. This BridgeTech dude makes a thread on SI but it is not soliciting sales. Except this BridgeTech dude seems to also work for this company called Bridge Technology. I wonder if THEY get paid for their "research" and "reports" too? And this SmallCaps Online deal is "not responsible" for the contents of this document"? Except they may take compensation or buy or sell at any time? Right. Ruh...ruh...ruh...RIGHT. Gotcha. What is that? Eh? Am I crazy? My understanding was that if you are getting paid to hype a stock, and you do not disclose your *exact* compensation...uh...on Silicon Investor...in every transmission that you make...then uh....you are uh.... It shall be unlawful for any person, by the use of any means or instruments of transportation or communication in interstate commerce or by the use of the mails, to publish, give publicity to, or circulate any notice, circular, advertisement, newspaper, article, letter, investment service, or communication which, though not purporting to offer a security for sale, describes such security for a consideration received or to be received, directly or indirectly, from an issuer, underwriter, or dealer, without fully disclosing the receipt, whether past or prospective, of such consideration and the amount thereof. law.uc.edu Why is this stuff on Silicon Investor? Are there other people like this? You tell me. I don't get it. I'm just thinking out loud. I am not responsible for this since it might be altered. Thanks, TLC | ||||||||||||
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