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Mountee: If you're reading this board....
Mountee:
I'm sorry you feel hurt; however, everything and everyone is suspect to me. You just happened to be searching for epaylatina and found that info? Sorry, I don't buy it.
Andrew, I thought you would have learned your lesson from previous events. Do you think that you are any better than me that they won't lie to you? Come to reality Andy. These people don't give a damn about you or me. If they say otherwise, they're lying.
I'm only saying this because, as you say, we have met. Andy, come to your senses here... there is much that hasn't hit the boards. Just do me one favor... keep your finger on the trigger.
Remember this post Andrew, then come back on a dark day and tell me that I hurt you. I don't think you will.
Midas:
You brought up a good question about authorized shares. I went back through the filings, but I only found authorized shares of 20,000,000 and 80,000,000. Am I missing some info? Anyway, you brought up a good point regardless, as I couldn't find a DEFS14A, Definitive Proxy Statement; nor a PRES14A, Preliminary Proxy Statement for the additional shares.
It is also interesting to note the "burn rate." LOL
De ja vu????
From the 2/14/01 filing:
Common stock, $0.001 par value, 80,000,000 shares authorized; 42,833,552 shares issued and outstanding
From the 11/27/01 filing:
Common stock, $0.001 par value, 80,000,000 shares authorized; 19,650,250 issued and outstanding
From the 8/9/01 filing:
Common Stock, $0.001 par value, authorized 20,000,000 shares; issued and outstanding at
6/30/2000, 5,969,000 common shares
Issued and outstanding at
6/30/2001, 6,861,500 common shares
Scorp: True, only Mountee can answer for himself. However, he won't even answer the simple question of where he has used his pad from FSTI in which he stated that it worked great.
Why does he evade that question? It only makes his statement of use less credible.
Don't you agree?
Thanks Matt. It does work, but just doesn't show the entire link.
Ski
You are absolutely right. That is why I included that phrase. I totally understand what you are saying about Mountee getting in there early and how it looks.
Many people get word of reverse mergers and shells early on. I personally subscribe to a site that lists and evaluates shells and is very helpful for DD. And I'm just throwing that in as an aside ... not as any sort of evidence that anyone else keeps an eye on shells and reverse mergers.
I don't know the facts in regard to what he might or might not have known or how he knew it. Only mountee can answer for mountee.
Dang Scorp... with diplomatic posts like that I might have to nominate you along with Midas as Chairmen the board. LOL!
Scorp: Keywords there "if you KNEW where to look."
Scorp, no problem.... I think Ski's point regarding the filing dates and Mountee's creation of the site, is that
A.) Why did Mountee jump ship so darn fast?
B.) Someone had to lead him to that info. Who?
C.) Shortly after that, he "hid" his ecnc-dd site.
I think we can surmise that Mountee was paid in shares by Egan... Now, he can come here and say he wasn't, but until he does that, I will surmise that he was.
Midas
no need to apologize ... just trying to add another perspective or possible explanation. No one should have to apologize for putting question or even opinion out there. This is a stock board designed for information and the best way to gather is to throw things out there and see what sticks. If enough info is put out then a clearer picture emerges and everyone is better able to judge their investment and develop the style which best suits them under the circumstances.
The only time I might think that someone should apologize is when they've been personally disrespectful ... but that's just my own opinion ... It is obvious that others don't share that one and that's what makes the world go around. I would hope that anyone who took offense to anything I might post would let me know. I try not to put personally offensive comments on the boards. (in other words I wrestle with my human nature! lol)
Ski
I found this when I went through (very quickly) the FSTI filings ... check the dates. I'm not saying that he did or didn't have inside info ... but the info was available to the public if you knew where to look.
PS: notice the "Binding" LOI ... one word sure makes a big difference doesn't it?
;)
Form: 8-K Filing Date: 7/25/2001
On July 23, 2001, the Company entered into a Binding Letter of Intent under the terms of which ePaylatina, S.A.
Sheesh, It sure has been a busy day here. Scorp, I realize what you are saying, and you could be right, my apologies that I wasn't clearer on my post.
Are you cutting and pasting from the link, or another post?
If you are copying from the actual URL (website) it should work.
Mosey on over to the TEST board and try it out a few times...if not, I'll see what's wrong.
Matt:
When I cut and paste a link, why doesn't the whole thing show on a post.
I'm trying to put
http://www.freeedgar.com/search/ViewFilings.asp?CIK=1102301&Directory=1019687&Year=01&SE....
in a FSTI post.
Thanks in advance for your help.
Cheryl
(ski)
Complete link for 8K filing:
http://www.freeedgar.com/search/ViewFilings.asp?CIK=1102301&Directory=1019687&Year=01&SE...
DD on the "DD":
Mountee created the www.fsti-dd.com on 7/31/01:
http://www.netsol.com/cgi-bin/whois/whois?STRING=fsti-dd.com&SearchType=do&STRING2.x=29&...
domain: fsti-dd.com
status: production
origin-c: mr_andrew_slade@yahoo.com#0
organization: Andrew William Slade
email: mr_andrew_slade@yahoo.com#0
address: 12 Staffords Place
address: Horley
city: Surrey
postal-code: RH6 9GY
country: GB
admin-c: hostmaster@uk2.net#0
tech-c: hostmaster@uk2.net#0
billing-c: hostmaster@uk2.net#0
nserver: ultra19.uk2net.net
nserver: ultra20.uk2net.net
registrar: JORE-1
created: 2001-07-31 13:19:35 UTC JORE-1
expires: 2003-07-31 07:19:24 UTC
source: joker.com
db-updated: 2002-02-23 22:32:42 UTC
The previous information has been obtained either directly from the
registrant or a registrar of the domain name other than Network Solutions.
Network Solutions, therefore, does not guarantee its accuracy or
completeness.
HOWEVER, the 8K announcing the Freestar acquisition of ePaylatina was not signed until 8/10/01 and filed on 8/14/01.
http://www.freeedgar.com/search/ViewFilings.asp?CIK=1102301&Directory=1019687&Year=01&SE...
Item 2. Acquisition or Disposition of Assets
On Friday, August 10, 2001, Freestar Technologies [Freestar] purchased all of
the assets of Epaylatina, S.A.
Comments anyone???
Ski
Clean shells are hard to find ... that's why they go for top dollar. Takes a lot of DD to find a squeaky clean one.
As far as goforitagain saying the FSTI shell was clean you always have to consider the posters on the boards .. some are more reliable in their information than others.
Clean shell?????
ITEM 1. LEGAL PROCEEDINGS.
Other than as set forth below, the Registrant is not a party to
any material pending legal proceedings and, to the best of its
knowledge, no such action by or against the Registrant has been threatened.
By letter dated November 1, 2000, the staff of the Securities and
Exchange Commission has informed the Registrant that it has completed
its investigation, and intends to recommend to the Commission that a
civil action in federal court be taken against the Registrant alleging
violations of Section 17(a) of the Securities Act of 1933, Sections
10(b), 12(g) 13(a), 13(b)(2)(A) and 13(b)((2)(b) of the Securities
Exchange Act of 1934, and Rules 10b-5, 12b-20, 13a-1, 13a-11 and 13a-
13 thereunder. The staff believes that, among other things, the
Registrant made false or misleading statements in filings with the
Commission during calendar year 2000 that the Registrant had purchased
assets in Costa Rica worth $5.18 million and that later sold those
assets. The staff also plans to recommend that the Commission seek
injunctive relief, but not a civil penalty or other collateral
remedies. The Registrant and the staff are in discussions regarding
the foregoing. The Registrant anticipates that it will resolve the
foregoing proposed action by entering into a consent to an order,
without admitting or denying the allegations, that it be permanently
enjoined from violating any of the foregoing sections of the
Securities Act, and the Exchange Act and rules thereunder.
It should be noted that the foregoing allegations pertain to
conduct by former officers and directors of the Registrant. Current
management of the Registrant has retained counsel to vigorously pursue
state and federal legal action against those individuals and others
that it believes have caused damage to the Registrant.
Scorp.- That's the funny part. eCarib had NO revenues. They were paying out more than they were taking in. A college bookie knows how to turn a profit on a gambling enterprise, you balance your bets and the "juice" is profit. Revenues would be the "juice" and would be offset by costs of operations. I'd have to take Egan's side on the Ecarib. spin off. Just another bogus ECNC pr, and Egan was acting his part of the ECNC charade. Just like Yarter was paid at the shareholders show, it's just a game as most OTCBB's are.
Midas
Goforitagain2? Check his posts on other boards and you will see who it is.
By: goforitagain2
17 Oct 2001, 06:06 PM EDT Msg. 12 of 754
(This msg. is a reply to 11 by unforgiven60.)
Hey what up with the volume over here on this stock.....the great and powerfull "RICHE CUNINGHAM" has advised us to take a look at this baby.....
Ski
I absolutely agree that the Annilee could be someone privy to inside info. I was just putting forth a theory that it might not be Egan himself. Looking at the situation from different sides. It's just part of my nature.
Scorp
Pseeker
I tend to lean toward your viewpoint on why Egan was "allowed" to do the "Epaylatina thing". There are all sorts of unsubstantiated rumors about dirt on Tom and the DR just as there are on Egan. I wouldn't even presume to post such things. In this instance it is just my gut feeling on the situation.
I'm wondering if the whole Top Sports fiasco can be explained as being a duel screwing by both parties. Tom is known for staying on top of everything that goes on and you even stated that he sent accountants down there. I don't have the numbers on Top Sports and though Ski mentioned that she was told about the revenues. Well we do all know that revenues can be shown but then eaten up by expenses and the company will show a loss. I don't know if this is exactly what happened ... just speculating ... or another chance that Tom or Egan or Tom and Egan pocketed a LOT of money ... again just speculation.
Midas: Speaking of goforitagain2.....
Look at this post. He tells Mountee that FSTI is a "clean shell". Now, wasn't there something in the FSTI filings about SEC sanctions against former FSTI officers?
http://ragingbull.lycos.com/mboard/boards.cgi?board=FSTI&read=1264
Let's talk about the 25% shares.....
Here is the PR issued announcing the 25% shares in the eCaribbean spin off. The ECNC Camp (Tommies) says that Egan issued the PR; however, the FSTI Camp (Paulies) say Hughes issued the PR. Just who issued the PR? Notice the origin of the PR.....
Don't forget the 25% shares that Egan promised ECNC shareholders by the PR listed below.
eConnect Caribbean Signs Letter of Intent to Become a Separately Traded Public Company from eConnect Inc.
3/19/2001 8:08:00 AM
'Existing eConnect Shareholders to Receive Dividend Shares in Newly Traded Company,' Says Paul Egan, CEO
SANTO DOMINGO, Mar 19, 2001 /PRNewswire via COMTEX/ -- eConnect Caribbean, a subsidiary of eConnect Inc. (OTC Bulletin Board: ECNC), today announced the signing of a letter of intent to form a new entity to be publicly traded on the OTC Bulletin Board. e-Connect Inc. shareholders of record 30 days from the date of signing of the definitive agreement to divest eConnect Caribbean from eConnect Inc. will receive an amount of shares in the new entity equal to 25% of the number of eConnect Inc. shares that they own at that time. Upon issuance of shares by the new company for the benefit of eConnect Inc. shareholders, and achievement of a listing on the OTC Bulletin Board, public trading will then commence in shares of the new company.
With a focus on the development of full-service host processing centers for the Caribbean and Latin America, the new entity will concentrate on the deployment and processing of transactions generated by eCashPads, and the certification and processing of conventional POS devices thru its full-service Host Center in Santo Domingo.
Initial business will begin with the previously announced contract with Banco Nacional de Credito, S. A. and Enelpunto.net, who plan to offer to a wide range of consumers a new PC with modem, printer, uninterrupted power supply unit, speakers, eCashPad, and free Internet installation and telephone connection.
Known as Project 999, and beginning April 1, 2001, the initial target market includes approximately 30,000 new PC users. This marketing plan intends to stimulate e-commerce and general Internet access in Latin America, beginning with the Dominican Republic. Usage of the eCashPad to effect Internet ATM card with PIN instant cash payments is a particular focus of Project 999.
eConnect Inc. has begun shipping 1,000 eCashPads to EnElPuntoNet to begin Project 999 and will continue to share in revenues generated from transactions and eCashPad orders.
Mr. Paul Egan, President/CEO of the new entity previously called eConnect Caribbean, stated, "together with our strategic partners, the newly formed entity will concentrate on the Latin American region to provide e-commerce solutions to a wide range of applications, including eCashPads, point of sale (POS), money transfer and bill payments. Our technology has been quickly adapted by both merchants and financial institutions to allow us to offer 'Card Present' solutions as an alternative to the present payment system. Also our technology has been embraced by merchants and clients as it has proven to greatly reduce fraud when processing online purchases. We will concentrate on increasing and forming new alliances with companies directly targeting our core business and utilizing our strategic partners to penetrate the Latin American market."
Mr. Thomas Hughes, President and CEO of eConnect Inc., stated: "We are actively working towards completion and signing of the definitive divestiture agreement. We are focused on the two key goals of establishing value for eConnect shareholders and launching the Personal Encrypted Remote Financial Electronic Card Technology industry. We believe that the divestiture of eConnect Caribbean as a publicly traded company separate from eConnect Inc. accomplishes both goals."
SAFE HARBOR: Certain statements in this release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities and Exchange Act of 1934 and are subject to the safe harbor created under those sections. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove accurate and actual results and future events could differ materially from those anticipated in such statements.
SOURCE eConnect Caribbean
More on Annielee02:
Annielee02 just happened to do a search on network solutions for this "amazing find."
Here is Annielee02's first post:
http://ragingbull.lycos.com/mboard/boards.cgi?board=ECNC&read=324181
By: annielee_02 $$$$$
20 Feb 2001, 01:05 PM EST Msg. 324181 of 534060
OT: Check this out, I'm new to this board, I have been lurking for quite a while, this board is turning into playground for children, I hope some serious discussions can come out of this finding. While doing my own DD I searched network solutions and I found this amazing find??????? www.econnectlatina.com If this is real this company is going to explode.. Check it out for yourselves.
Now, here is the domain registration for econnectlatina.com. Notice the name in bold. That was the new COO working under Egan. If not Egan, what a good Paulie! LOL
http://www.netsol.com/cgi-bin/whois/whois?STRING=www.econnectlatina.com&SearchType=do&STRING....
Registrant:
ECONNECT CARIBBEAN (ECONNECTLATINA-DOM)
Av. 27 de Febrero esq Tiradentes
SANTO DOMINGO, DN 1234
DO
Domain Name: ECONNECTLATINA.COM
Administrative Contact, Billing Contact:
ECONNECT CARIBBEAN (L6419-OR) esuero@econnectcaribb.com
ECONNECT CARIBBEAN
Av. 27 de Febrero esq Tiradentes
SANTO DOMINGO, DN 1234
DO
809 732 5911 fax: 809 472 2377
Technical Contact:
ECONNECT CARIBBEAN (G9330-OR) esuero@econnectcaribb.com
ECONNECT CARIBBEAN
Av. 27 de Febrero esq Tiradentes
SANTO DOMINGO, DN 1234
DO
809 732 5911 fax: 809 472 2377
Record last updated on 30-Dec-2001.
Record expires on 19-Dec-2001.
Record created on 19-Dec-2000.
Database last updated on 23-Feb-2002 00:13:00 EST.
Domain servers in listed order:
NS1.ECONNECTCARIBB.COM 200.50.18.162
NS1.THUNDERGO.COM 64.60.204.161
Scorp and Midas:
Scorp's theory could be correct; however, Annielee02 knew that Top Sports was no longer with eConnect Caribbean per this post:
http://ragingbull.lycos.com/mboard/boards.cgi?board=ECNC&read=338357
Now, with that being said, if Annielee02 is not Egan himself, then Annielee02 was privy to inside information (not known by public ECNC shareholders).
Conclusion:
Annielee02 is Egan, or
Annielee02 was fed inside information from Egan.
Thoughts?
Midas
Just to present a balanced view on the Annilee scenerio,
I have on a number of occasions used someone else’s computer to compose documents and even though I myself composed them the documents read as the other persons document. So while the fact that the document read as Annilee's document it is possible that Annilee was someone say "in the office" but not necessarily Egan himself ... just a thought. I really have no absolute information in regard to the Annilee situation.
Scorp
Actually Ski, we know who annilee_02 is. It is Paul Egan... Paul Egan sent a threatening email to Jlee, if you remember correctly. Well, he composed it in a word program. We opened the file, and checked the properties of the file... The creator of the file was none other than annielee. That's how we know who. Now, we know for a fact that Paul egan was posting information on message boards. However, he was not the one who initially leaked the information. It was poster goforitagain2. Who posted the info almost a full week before the SEC filing.
Midas: I have to honestly say I don't positively know for sure who Annielee02 is. However, the timing of epaylatina and freestar and Annielee02's birth on the RB board would lend one to believe that Annielee02 is an insider of both companies. Remember Annielee02 posted info prior to public knowledge. Now who would know that?
Ski, let's start from the very beginning as we know it. Could you please tell the board who annielee02 is?
Midas and Pseeker:
If there was cash infusion, then where did it go? It certainly wasn't there when the 10Q was filed shortly after my office visit with Egan in the DR. Which, by the way, contradicted what we were told by Egan ... "shareholders will be happy with revenues" (in my office visit post). That quote was directly from Egan to my husband and I. Off record, we were told Tops Sports took in $6 million in revenues.
Who's on first, what's on second, and where the heck did the money go is on third.
Something isn't right...
Pseeker, I do have the links to Ski's posts regarding her visit to the DR. Please note that she was lied to and reiterate that Egan and his (then) attorneys reviewed every post prior to posting. She wants it made clear that these posts were not her "interpretation" of his words. Each word was reviewed prior to posting
Pseeker, 2 things I know for a fact:
1.) Huey sent an accountan from California to the DR to inspect Paulies books.
2.) Huey wanted cash flow to show up on TopSports books.... So, how do you do that? Cash infusion?
Good job Matt. We wouldn't want another SEVU fiasco over here. As far as Egan goes the questions might be: Did he steal the cash from ECNC/TopSports? Did Huey let him take it? Was he a complete moron and really did lose the $$. Or as I believe, he had so much dirt on Huey that ECNC was powerless to do a thing and he took whatever he wanted and said adios. Now if you read the ecnc filings there is a little clause in there that adresses this exact scenario, consultants/employees walking away with the goods.
I would like to thank Matt for stepping up and into the forray. I am here to discuss the pros and cons of this stock, I would prefer all name calling, mudslinging and childish attacks cease and desist. Let's debate the merits of this company as adults. Make this an informative forum. Let's start from the very beginning shall we. Now, in order for us to do that, we must go back to Egans beginning with econnect. I might also add, that there is a good discussion going on in the ECNC informative board, re: the corporate opportunity doctorine... this evolved out of a discussion regarding 3pea, but I also believe it is worth discussing here. Shall we start the discussion at the very beginning?
Paris, board:
I got midas' message the other day. I looked into and saw only three deleted posts.
I see things broke loose today.
Let me explain how this thing works and who did what wrong.
1) No board on this site is for "Longs only" -- we are here to discuss pros/cons of the company, in a civil discussion. I know RB has no chance of conducting a civil discussion with both sides being heard, but here, it happens and will continue to happen. With that in mind, the relevant posts to the topic that were deleted have been restored.
2) Yes, messages get removed, until I review them. I either leave them removed or restore them. In this case, they weren't deleted for the right reasons or the reasons given, so they have been restored.
3) One thing that the flip side did wrong is complain about deletions. I am your man. Please don't post on the board "Why was my posts deleted? What's going on?!" All it does is add to the confusion. Point your guns at me. I am the *only* person who can delete a message. It looks like there were about 20+ posts complaining about deletions and other worthless garbage. Those remain deleted.
With that in mind, Paris, you are welcome to have the board back, since you started it, but with the concept in mind that we will be discussing both sides of the issue.
And finally, to both sides. This is not RagingBull. Drop the attitude and lice off at the door. Quality posts and discussions rule here.
MB
Paris, If I own stock in this company, does that make me a long? Yes it does.... And If I were a long and were disgruntled I would not be able to post on this board? Is that correct?
Please note that this thread/board has some restrictions:
This was their most recent NR:
http://biz.yahoo.com/prnews/020117/mxth002_1.html
This Thread is for longs of FSTI. Those that are disgruntled/paid bashers etc...will be removed.
For those that need to spew their bile...I suggest you start your own thread.
FSTI RULES!!!!
Options: Subscribe to 'Freestar Technologies ' (FSTI) E-Mail List
Excellent read with link:
Message Boards
There's no question that message boards can be a great resource. But they can be dangerous places, and investors have lost fortunes by trading on information they read on the boards. Securities regulators say they are troubled by the fact that so many investors seem to believe the message boards are full of hot "sure-thing" stock tips.
Message boards shouldn't be viewed as any different from a crowded room full of strangers. Trading on advice there is akin to trading on stock tips you receive from a stranger's conversation you overhear at a party. Still, people do it all the time. In fairness, message-board users have at times come up with quality "scoops" about companies -- catching wind of a merger before it happens, or learning that the company has secured a patent on a new technology. But often the information on the boards is pure speculation.
It's important to understand that just about everyone who posts messages has a motive, and it may be different from yours. When money is at stake -- as it is with any investment -- there's really no such thing as a completely objective discussion. People don't want to hear bad news about companies they invest in, and even the best-intentioned debates often end up in mudslinging. Likewise, it's important to remember that short sellers -- those who bet that the price of a stock will decline -- can profit by stirring up panic on a message board. People also can profit by stirring up excitement on the boards about stocks they own.
All these things point to the importance of not relying on information you read on the boards. "You should assume everything you read online is false until you can confirm it somewhere else," said John Stark, chief of the SEC's Office of Internet Enforcement. "People know not to believe everything they read, but think that somehow the Internet makes things more legitimate, and it certainly does not."
Here are some things to watch out for, and ignore, on the boards:
Blatant hyping, Ypo're probbaly heading to the boards to find a thoughtful discussion on investments, but it's far more likely you'll find scores of messages from people cheerleading their favorite stocks. But that hyping can be dangerous, and contagious. When members of a message board get in the habit of explaining away bad news with statements like "I think things will get better soon," it's time for a reality check. Remember that a stock's performance has nothing to do with how much you -- or anyone else -- want the price to go up.
Claims of inside information. It's not uncommon to find users claiming to know the inner workings of companies -- when press releases are coming out, the status of development of new products, whether the company will meet earnings expectations. Some users even claim to know when particularly large purchases are about to be made in a stock. Such a purchase, if large enough, could push a stock's price higher. But, as with all claims of this sort, you should question the likelihood of anonymous message-board posters having such potentially lucrative inside information (and you should also wonder why, if they do have inside information, they're so eager to share it with so many strangers).
Stock promoters. Message boards have become favorite hangouts for stock promoters, individuals who are paid to hype a company's stock. Such people are often paid in stock rather than cash, meaning they make more money if they're able to get the stock price to rise. You should beware of message-board users who seem to repeat the company line a little too closely and know such things as when the next press release is expected. They may be on the company's payroll, in which case you should be skeptical of anything they have to say.
Stock promoters are required by law to disclose whether or not they're being paid, exactly how much, and the nature of the compensation -- even when they make postings on a message board. Still, the SEC has brought many cases against promoters who disguised the fact that they were paid, and it continues to track down offenders.
Bashers. Just as stock promoters and other hypesters profit by pumping a stock, bashers, or those critical of a company, can profit by getting a stock's price to fall. Message-board participants who are positive on a stock are always quick to suggest that anyone who bashes the stock must be a short seller -- someone betting the stock's price will fall. Most of the time, that's just plain wrong. But the SEC says it is becoming more and more concerned that some people on the boards who appear to be critical observers are actually slamming a company so that they can profit from a short sale. It's irresponsible to dismiss anyone with a negative comment as a short seller, but it would also be a mistake to think that anyone bashing a stock is just trying to save you from a bad investment. Do your own research.
Call in your certs! This is a strange one, but stranger still is how often you see this phrase pop up in message boards. "Certs" here refers to stock certificates, and the notion of "calling them in" means asking your broker to send you the actual paper certificates, rather than allowing the stock to be held for you in your brokerage account. The idea here is to prevent short selling in a stock. Short sellers make money by betting a stock's price will fall. Essentially, they borrow shares of stock in a company from a broker, paying a small fee for the service, and immediately sell those shares on the open market. Then, they hope, the company's stock falls in price, so that when it comes time for them to buy back shares to repay the ones they borrowed from their broker, they can buy them for significantly less than they sold the original shares for. The difference is their profit.
The reason message-board users try to organize a "call in your certs" campaign is that when the actual physical shares of a stock are in a client's possession, they can't be loaned to short sellers. Brokers who loan stock to short sellers are actually loaning out the shares that other customers keep in their accounts -- the same way a bank lends money that it is holding in other customer's savings accounts. In theory, if a group of investors could buy up the available stock in a company, and then get hold of the actual stock certificates, they could absolutely guarantee that there was no short selling because they would own every piece of stock, and there wouldn't be any available for brokers to lend to short sellers.
The flaws in such a plan are, hopefully, obvious. It's not uncommon for companies to have many millions of shares available for trading, and it would be virtually impossible for a group of investors on a message board to manage to control all those shares.
Oh, those market makers ... "The market makers don't want to let this baby run!" Market makers, or MMs, are the most evil people on the planet next to short sellers, according to message-board users. These are the professional traders who are responsible for organizing the buying and selling of stocks that trade on the Nasdaq Stock Market. They do this by posting a "bid" price at which they are willing to buy a stock, and an "ask" price at which they are willing to sell a stock. Nasdaq requires market makers to buy and sell at the bid and ask prices they post, and that helps to ensure that investors can buy and sell a stock if they need to. In the language of Wall Street, market makers are required to maintain an orderly market in the stocks they trade. One way market makers earn money is from the difference -- or spread -- between their bid and ask prices: If they are willing to buy for $10 and sell for $10.25, the 25-cent difference is their profit.
Many message-board users -- you'll find this most often on penny-stock boards -- believe that market makers conspire to keep the prices of some stocks down. Some go so far as to suggest that market makers themselves short stocks and then conspire to keep the price low so they can reap profits. Market makers do indeed short stocks. For instance, if an investor puts in an order to buy a stock and the market maker doesn't own any shares and can't find any other willing sellers, he or she will use a short sale to fill the buyer's order.
But the notion that market makers are involved in a plot to manipulate stocks in order to wring profits from their short-sale positions is a bit
far-fetched -- even for an industry that did face regulators' allegations of price fixing in the 1990s (market makers were accused of conspiring to bolster their profits by secretly agreeing to keep their spreads wide, and they ended up paying a huge settlement to resolve the matter). The idea that market makers would hold back the price of a stock that was in high demand is illogical. When faced with strong demand and lots of "buy" orders, surely the market marker could make much more money by buying shares, then selling them at higher and higher prices, than by trying to hold back a popular stock on which the market maker happens to be short. Indeed, market makers tend to avoid holding big positions in stocks, and they certainly don't try to get in the way of a moving market: At least when it comes to a stock that is listed on a major market, one market maker doesn't have enough money to stand in the way of all other investors in the market. There is a saying on Wall Street: "You can't fight the tape."
Price predictions. Message boards are full of predictions (many of them ridiculous) about where a stock's price will be in the near future. No one, including Wall Street analysts who do this for a living, can say with certainty where a stock is headed. Price predictions can quickly give way to hype -- if a dozen people on a message board seem certain a $5 stock is headed to $25, you may start to believe it. But wanting a stock to go up doesn't make it happen.
http://investing.wsj.com/tools-body4.html
Here's an email that I sent to Egan... Go figure, he didn't want to respond, but WOW, all of a sudden he wanted to talk to me on the phone? Why do you suppose that is?
First of all, let me thank you for your time in answering my questions. I hope I don't take up too much of your time, but Riche told me you were anticipating my email.
1.) Regarding your qualifications to Run FSTI and make it profitable.
A.) Tenerue College --- Since this college is in a different country, could you please explain its comparisons to U.S. Colleges i.e. Is it the equivalent of a UCLA?
B.) According to SEC filings, you have a background in Construction Management --- How does one who is involved in Construction, make such a drastic career change?
C.) Why did you leave ENGEN?
D.) What is inter-leisure? Who are the principles involved in that? What is their core business?
2.) How did you get involved in betting parlors?
3.) Did Tom H. pursue a relationship with you, or vice versa?
4.) Why did Top Sports lose money? I believe you stated in an interview once, that we had substantial profits, why did that not come to fruition?
5.) Per the SEC filings, you stated that you created epaylatina in 2000. Where is it incorporated? Who are the principles of epaylatina?
6.) What ever happened to Dan Spence? Thundergo? I see that some of the servers for your webpresence are still registered to him. Could you please explain how he still relates to all of this ..... Even since he his now with 3pea ( Erin & Mark Newcomer )?
7.) What caused the falling out between you and Tom H? Is Tom H, affiliated with FSTI in any way, shape or form?
8.) Did Igor and Dmitri write all of the code for your transactions?
9.) How does FSTI's tech differ from ECNC's?
10.) How did you finance epaylatina from startup?
11.) What kind of financing is currently in place to ensure that FSTI stay's afloat?
12.) Who let poster "goforitagain2" leak information re: FSTI to the RB message boards --- days before the deal was finalized?
13.) What happened to the Econnect Carribbean Spinoff?
14.) Your statements per the pr's regarding the spinoff, led ECNC investors to believe that this was the real deal. Why no pr regarding this? Is there still something in the works?
15.) The Barnett Bank of Jacaranda? How does that fit into the whole picture?
16.) What do you anticipate for the future of FSTI? ECNC?
17.) The registrant for www.epaylatina.com is econnectcarribbean. That tells me that econnectcarribean owns epaylatinas website. Is this correct, or just a paperwork snafu?
18.) How many employee's do you currently have? Contractors?
19.) What is the address of FSTI in the DR?
20.) Who is the Chairman of the Board? You, or Dennis Johnson esq?
21.) Mr. Ciaran Egan, seems like a highly qualified individual for acquiring accounts, and setting them up. Could you shed anymore light on him?
Mr. Egan, I have many more questions, but I wanted to get this off to you, as I know it's late in the day, your time. Please be assured, that I am not attacking FSTI, rather investigating as a possible investment.
Again, thank you for your time and consideration in this matter. It is greatly appreciated.
Dave
Let's talk about ETSS, shall we? Who wrote the code??? Ivan? Dmitry? Who was paying them? How long did it take them to write the code? Is it copyrighted? What are current copyright laws in the D.R.? What happened with Dennis Johnson?
So Paris, you only want posts that show your point of view??? You are not even willing to debate the stock??? Tell me what the results of your patent search were? I'll be waiting? While your at it... Tell the board when epaylatina S.A. was formed... Do you know that? Let's get to the facts.... In FSTI's last filing the went from 40 mill auth shares to 82 mill.... How did that happen? Were shareholders notified? C'mon Paris, I have more DD on this company than anyone. Let's talk about it.
FSTI had a great day today!...Lets hope good news comes soon. Is nice to know that the company owns all the patents etc. Go FSTI!!
Bullrider, Thanks, but Matt's got plenty of other things going on, that he doesn't need to be babysitting... I initially contacted him yesterday, but I don't want IHUB turning into another RB.... So, I'll just keep posting DD and questions, and if Paris keeps deleting, I'll keep reposting.
midas,
et al,
If you think any of your posts were unfairly deleted, contact Matt. If they were unfairly deleted, he will restore them.
Have fun,
Phil
Let's discuss Freestar as an entity for a moment:
How many employees?
What is Egans Fixed OVH?
Own or lease the building?
How many consultants?
Servers? Where did he get them, and what kind?
How about the phenomenal communication platform in the D.R.?
How about all of Mountee's alleged purchases that he won't back up??? Furthermore, He's the only one?
Next?
Paris, why don't you share with the good people of this board, how good old Clinton Wongs company was started and who paid for it?
Paris, Let's discuss Clinton Wong, and the amazing case of the dissappearing Porsche. Shall we?
First off, Where's MY Porsche?
Second; Where is he at with a USB version of the good ol pad?
Third; Where can you use his pad
Let's discuss the facts. Anyone?
How about the current price of project999? Let's discuss that.... Almost double what it was originally advertised at
How about Amer Fermin??? Pauls future father in-law? Is that why Haydee was let go? Has Paul been putting away the necessary funds 10% I believe of gross revenues -- for his employees per the labor laws of the DR?
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