THE RULES OF THE BOARD:
1. Nominate your favorite P.O.S. stock and its CEO in a post.
2. Give at least 3 facts as to why this stock is a P.O.S.
3. Each week the biggest P.O.S. stocks will be put in the iBOX.
4. Do not try and defend a stock.
5. Your post must identify a P.O.S. stock to be considered on-topic.
6. Only on-topic posts are allowed - all others will be deleted.
7. Follow TOU rules - especially regarding PERSONAL attacks.
8. Talk only about P.O.S. stocks.
9. The MODS will have final decision regarding what stock is a P.O.S.
10. Any stock that is not considered a P.O.S. by the MODS will be deleted.
11. If your upset that your stock nomination is deleted - start your own board. P.O.S. stocks are securities in a company that do some or all of the following:
- Creates bag holders
- Performs more than 2 R/S within a year diluting thereafter
- Changes business plans more than 2 times in a year
- Has a majorly declining PPS
- Misleads shareholders with pump and dump PR's
- Releases PR's regarding deals that never get mentioned again
- Has more than 1 paid promoter AND a majorly declining PPS
- Has shady management with shady pasts
- Trades on the pink sheets
- Has only 1 employee who only knows how to hit the SELL button
- Is located only in a foreign country with no US offices
- Mentions the word BILLIONS in a PR only to decline thereafter
- Has a CEO who goes missing .....FEEL FREE TO ADD TO THIS LIST BY POSTING YOUR THOUGHTS.
And if you have any doubt if your stock is a P.O.S read this post because it probably is: http://siliconinvestor.advfn.com/readmsg.aspx?msgid=13282288
Other Boards of Interest: http://investorshub.advfn.com/boards/board.asp?board_id=7251
- Scammy CEO's Links of Interest http://pennystock-fraud.info/news.php
Check this out on FCPG - a stock I MOD the board of and declared a POS scam a while ago!!! http://investorshub.advfn.com/boards/read_msg.asp?message_id=17790878 SEC Charges Software Firm with Stock Scam By Aaron Seward
September 6, 2007
The SEC has charged a Fresno, California-based software company and its CEO with running an illegal stock scheme that raised nearly $1.5 million.
FacePrint Global Solutions and its CEO Pierre Cote, sold millions of shares of stock to the public through nominee accounts, without registering the shares with the Commission. According to the complaint, Cote then funneled the proceeds of the sales back to FacePrint, a struggling start-up company purportedly in the business of developing facial recognition software for use in fighting crime and terrorism.
The Commission charged FacePrint and Cote with securities registration violations as well as violations of the rules governing the distribution of securities. The regulator also charged Cote with violations of stock ownership reporting requirements.
In its suit, the SEC seeks disgorgement and interest, and civil penalties from both FacePrint and Cote. The SEC also seeks an order barring Cote from participating in penny stock offerings, as well as permanent injunctions against future violations of the securities laws.
Cote began his scheme to circumvent stock registration regulations in 2004, according to the SEC. He allegedly entered into arrangements with two acquaintances to transfer FacePrint shares into brokerage accounts under their names. From those accounts, Cote sold the stock to the public and funnelled the proceeds back to the company.
The two acquaintances were FacePrint's graphics director and the 20-year-old niece of Cote's assistant. Cote allegedly agreed to pay those nominees percentages of the sales of FacePrint stock.
The SEC said that FacePrint registered its stock with Form S-8, which is for the registration of securities to be issued by a company to employees or consultants. Form S-8 is a short-form document that is not as detailed as registration forms required for a public offering of stock.
By those means, Cote conducted a public sale of FacePrint stock without informing the public about the company's true condition. Despite the company's claims that it is developing a facial recognition software called "EZ-FACE," said the SEC, FacePrint has yet to produce a software product or sell any software. In 2005 and 2006, FacePrint reported only $13,412 and $253 in revenue, all from selling playing cards showing the faces of wanted criminals.
The SEC also alleged that Cote timed some of the largest sell-offs from his nominees' accounts to coincide with company press releases and company-sponsored span email campaigns. In all, Cote sold more than nine million FacePrint shares through his nominees' accounts, which the SEC said was approximately 26.5% of all sales of FacePrint stock. He also purchased nearly 900,000 shares from the nominee accounts himself, said the SEC.
Cote also allegedly hired several stock promoters to tout FacePrint stock by email and other means. To compensate the promoters Cote issued them more S-8 shares, which the promoters then sold to the public.
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