Scams, message boards, and other worthless endeavors

[stylecounciler]

thanks for the heads-up, GC.

and here's a track i'll dedicate to my favorite penny stock posters...

[GlassCrasher]

ECSC Don't buy it!! You'll be sorry

[stylecounciler]

chat rooms, company web sites, message boards.

and we all are aware of all the hot ones out there, InvestorVillage, RagingBull, and the best one of them all, Investorshub, ...


but still you have to be aware of the hypeters that hit 'em up. even dominate some of these penny stock boards.

even various government agencies warn us.


http://www.nasaa.org/Investor_Education/Investor_Alerts___Tips/296.cfm

[stylecounciler]

The SEC is on the hunt.

http://www.cnbc.com/id/24293918

Who's next? Possibly the paid to pumpsters?

I'd guess that the SEC received a few complaints before the prosecutions of this latest scamster.

[stylecounciler]

Would anyone agree that one way to sus out a paid pumpster is when you see a poster with a handle like (insert stock symbol of your choice here) followed by the word, "long", or "2008", or something like this?

How about if posters with handles similar to the above do nothing but copy and paste, copy and paste, copy and paste?... ad nauseum.

And how about when said poster keeps posting responses to himself?

[stylecounciler]

MDVX's new hired hand. WAB Capital. We can search the QualityStocks.net disclaimer and see what they are getting paid to slam this one. But I wonder what they are paying these guys?

Ah yes, WAB Capital.

Rule number one. Tout the best, maybe people will forget the rest.

So much for their stock picking prowess.

http://www.businessweek.com/magazine/content/03_20/b3833165_mz027.htm

Hey, i'll bet they are good at road shows?


With all the hype, (and there is whole hell of a alot going on), my guess?

Modavox, like IDN, never shows a profit either.

I don't believe the hype.

[stylecounciler]

so today on the multiple MDVX boards, there are posts of a firm writing up, and beginning a road show for MDVX.

some are making comparisons, copy and pasting a write up, the only case study offered up by the road show firm on a company years ago, CEDC, using anecdotal evidence that this past success will lead to the same with shares of Modavox.

Don't forget, this WAB company is compensated by the companies that hire them to perform these road shows.

what these folks do not point out is the company that did the past road show on CEDC helped move the companies stock price from 5 to 10. not surprising that a road show to institutions moved the stock.

what one poster is doing, one that i know for a fact is an insider, is trying to imply that this road showie company was a holder of shares that ended up going up 1000%. far from the facts. but people will fall for this anecdotal technique.

again, a better look at this company, MDVX, would be to back test all companies who hired QualityStocks.net. who hired Mr. Assad, president of C&H Capital. i suggest googling them both.

this author has a nice comment, makes a fair observation on firms such as this QualityStocks.net, and who would hire them

http://seekingalpha.com/article/42096-global-resource-corp-unanswered-questions-about-management-persist

[stylecounciler]

F-heads. There are crawling all over the place. All over the net. And they never stop.

Be careful out there.

http://www.tradingmarkets.com/.site/news/Stock%20News//1222162/

[daviddodd]

MITD - something Ben Glison & Kenneth Lay would be mighty proud of.

From the 2007 10K filed 4/15/2007.

Page 25 of the SEC Filing:
"... the Company has a single receivable from a customer in the Dominican Republic for $2,416,500. Terms of the invoice are 25%-60/25%-90/25%-180/25%-360. The initial installment was due September 20, 2007. This receivable is included in our revenues for 2007, Nine thousand dollars has been received on this invoice. The Company is relying upon collection of the balance of this invoice to expand its international sales. As of December 31, 2007, this receivable remained uncollected.

This receivable, according to the 3Q Filing was invoiced on June 20, 2007. And according to that filing the $2.4 million in sales generated $1.5 million in Net Income!!!

In other words the reported $12.7 million in revenues was really more like $10.3 million and the net income of $79,890 includes the stated net income from the 3Q filing, page F-13 of $1,518,199. Resulting in a loss of $1.4 million.

Sounds like strike one and strike two.

Now look at this, also on Page 25 of the 2007 10K Filing.

"On April 4, 2008, we received a letter from Northern indicating that Northern considered MIT in default of its obligations under the credit agreement, and declaring all amounts under the credit agreement due and payable in full immediately. Subsequent to this letter, we received oral assurances from Northern that they would continue to fund MIT for an additional 60 days from April 4. We can make no assurances that Northern will continue to fund MIT for that period, no assurances we will be able to pay Northern at the end of that period, and no assurances that we will be able to find alternate funding on terms favorable to the Company or at all."

Strike three. In the red and hanging by a thread.

Caveat Empty.

[stylecounciler]

Stories like this are a daily drill.

http://www.nj.com/news/index.ssf/2008/03/lawyer_gets_7_years_in_nj_stoc.html

Too many people want to get rich quick thru penny stocks. Scammers know this.

And they are incognito, all over every penny stock message boards.

[daviddodd]

Another thing I did in the past but found it to be too time consuming - mailing list of Master Pumpsters.
What I have found helpful and profitable about spikes in posting activity:

1). When it first occurs I admit I have made some short term (1 to 3 or so day duration) trades. Decent profits, complete speculation - understand and can live with. Know nothing about fundamentals or even what the company does or doesn't do. Completely instinctual trading for me and I don't look back.

2). Check board activity before I really get into the research. What I see dictates what I do. Can amplify if you wish.

3). You are absolutely correct on the typical BB shareholder. At times I find it difficult to spend time on the boards because it is so unproductive. In addition, and I don't mean this to sound like the typical testosterone driven BB participant in the least, but frankly I know my companies as well if not better than anybody limited to public information. So I often ask myself, why bother?

Thanks for getting back to me.

[stylecounciler]

Great points, davidd. And these scamsters know their market very well. They understand that many people are susceptible to get rich quick schemes and or have the penchant for gambling. All we need to do is take a look at these barely capitalized penny stocks and their respective message boards and see how many posts they get a day compared to any good quality, highly profitable small, mid, or mega cap companies, which for the most part get few posts in a month.

It's an easy game, issue or invert a penny stock with minimal float. Pump it. Dump it. And make a nice piece of change without ever running an actual active business for the long term.

If one has the urge to buy into a penny stock, first check the many different message boards. Check to see the massive amounts of happy talk. The massive amounts of p.r. companies like these release. Back test the people who are the most prolific and see how their past performance has been with the previous penny stocks they have been so happy about in the past.

And look over the companies balance sheet. Read the notes in the 10-K and 10-Q's.

[daviddodd]

Would suggest there could be three similarities of BB scams. This comes from personal experience, etc.
1). Blind greed.
2). Great arrogance.
3). A little too, well, righteous acting.

Many scams can be uncovered by good financial analysis.

[daviddodd]

I would like to refine your well taken point. Investing in the fantasy land of Bulletin Board stocks one must recognize that by their nature, fantasies come in all shapes and sizes.

As one does their DD, to think that their potential investment is scam free because of size - big or small - is asking to get scammed.

[daviddodd]

My guess as to one of the problems is international sales. Third quarter only $9,000 of nearly $2 million had been realized. Back out those sales, as I have pointed out in other posts, 2007 sales are down to around $8 million versus $16 million two years earlier.

[stylecounciler]

"The SEC alleges Jason"....

Stuff like this is a daily occurrence.

http://www.dallasnews.com/sharedcontent/dws/bus/stories/031508dnbuspump.38c6bf1.html

be careful, people.

[stylecounciler]

"Whenever someone you don't know offers you a hot stock tip, ask yourself: Why me? Why is this stranger giving me a tip? How might he or she benefit if I trade?

http://www.sec.gov/investor/pubs/pump.htm

[stylecounciler]

Here's more from the State of Arizona, home to a whole heap of scamsters.

http://www.azinvestor.gov/ImportantTopics/MICROCAP%20FRAUD.pdf

[stylecounciler]

Many message board scamster will say that it's really great when a penny stock has a very small float and millions of shares closely held by insiders.

au contraire.

NASAA.org has a different opinion.

http://www.nasaa.org/Investor_Education/Investor_Alerts___Tips/296.cfm

[daviddodd]

A HARBINGER OF REALLY BAD NEWS AND AN UNFOLDING SCAM RIGHT BEFORE OUR EYES???????????

MITD filed a late notification for their 10K on March 31. Not unusual in and of itself but what was astonishing was the contact person named was a Steven W. Schuster. He is the Company's attorney and note he is co-chair of McLaughlin & Stern's corporate and securities department.

"Steven W. Schuster, Esq.

Mr. Schuster became a member of the Board of Directors of MIT in 2006. Mr. Schuster has been engaged in the practice of corporate law for over 25 years and is co-chair of McLaughlin & Stern LLP’s corporate and securities department, where he has worked since 1995. Since 1997, he has served as a member of the Board of Directors of Tower Group, Inc., a publicly traded holding company whose subsidiaries are providers of insurance. Mr. Schuster received his B.A. from Harvard University in 1976 and his J.D. from New York University in 1980."

HOW CAN THIS BE ANYTHING OTHER THAN A HARBINGER OF REALLY BAD NEWS?

[TimetoStoptheBS]

NWWV is the most recent scam....

Look at their recent PR's. They havent done anything they said they would and now they are spending 200k on a supposid mining venture.

I see some dilution and then a R/S.

[eqtynt13]

I have reason to believe that Reginald Gilmour (individual) and a non-existent firm, Euro Atlantic Investment Management, LLC of Miami, FL is holding himself out to be an "investment manager" operating a "hedge fund". There is no record of "Euro Atlantic Investment Mgmt. LLC" - no registration with the SEC, Florida Divisions of Finance or Securities, or the NASAA. Nor is there a record of the purported LLC.

I am not sure if there is a connection with the "firm" and the now defunct Euro-Atlantic Securities, stripped of its registration in 2000 because of violations of the Securities Act, but my guess is there is. But other than both being in Florida, I cannot confirm this as fact.


I feel it is my duty to see that no other honest investment professionals, investors or companies fall prey to him and what looks to be a sham investment firm.

Randy Lewis, CFA, MBA

[Psionic Trader]

is this board still alive?

[Betababe]

Sputnik
do you think that plastistuff could replace aluminum.
this seems like a good use for the moldable plastic


http://www.ericisgreat.com/tinfoilhats/

[Betababe]

This guy dont know ZIp about money

Posted by TheCooler

I guess you didn't bother to read the entire article....

Try picking up the phone.....calling the company....and achieving 12 percent average annually......that's not going to happen....
The article clearly states that mutual fund managers who get 2-3 percent a year are considered financial geniuses*(he believes it).....these are the guys who get paid many millions of dollars a year to be the best at what they do......*12 percent is virtually impossible without some kind of priviledged information.....
Seasoned ecomomists will tell you that corporate insiders normally outperform the market by 6-7% annually......Insider trading is not a secret at all....it's a commonly known fact.....just because it happens all the time.....doesn't make it legal.....securities fraud is rarely prosecuted.....the fact that senators consistently outperform even the corporate insiders is considered impossible to do......legally....
How much proof do you need?....it seems to me that senators are the ultimate insiders....

You tell me that any experienced broker can get me 30% per year average on my money?.....point me in the direction of this broker.....please....I'll hire him now.....no questions asked....

You also tell me that ImClone......the company involved in the Martha Stewart case.....is not available to the public.....You're wrong there....It's traded on Nasdaq.....I can buy it tomorrow if I want for about 30 bucks a share.....Martha could not have owned it in the first place if it wasn't available to the public....
The founder of that company.....Sam Waksal....was sent to prison for over seven years on charges of bank fraud....securities fraud.....perjury....and conspiracy to obstruct justice....

The reason that they're going after Bill Frist is because he was too obvious in his crime......just like Martha.....High profile people like this....who have enemies that are looking to take them down.....need to be more careful than most people when breaking federal laws....

I hate to disagree with your assumptions....because I know that at the ripe old age of 23....you must have a wealth of investing knowledge under your belt.....

_______________________

My Reply


Once again insider selling is not a crime..get it
Insiders can buy and sell their stock as they please as long as the papers are filed ahead of time.

Being a senator doesnt make you an insider, Senators can be everyday investors like anyone else.

Monkeys throwing darts at a stock sheet on a wall could get 2-3 percent. Why would anyone invest in stocks for 2-3% when thet could get that from a bank with NO risk of losing their money.

I never told you Imclone was not availible to the public. I told you Martha sold her stock based on info the was not availible to the public, by the time it became availble to the public the stock dropped 30%. Martha was long gone by then..thats illegal insider selling

30% impossible??? thats Laughable.

Also untrue that you cant own stock in a company unless it is trading on a big board market like Nasdaq.... If little Suzy want to incorporate her lemonade stand, she has a right to sell stock in said corporation.

Bill Frist did nothing illegal, matter of fact I checked his transactions which are public info. He sold his stock at $45, the stock is now $48, So he lost money because he sold too soon. Is losing money a crime??

I dont make assumptions I only deal in facts. Yes I do have a wealth of investing experience, I could dwarf you with what I know about investing.

[Betababe]

Once again insider selling is not a crime..get it
Insiders can buy and sell their stock as they please as long as the papers are filed.

Monkeys throwing darts at a stock sheet on a wall could get 2-3 percent. Why would anyone invest in stocks for 2-3% when thet could get that from a bank with NO risk of losing their money. I never told you Imclone was not availible to the public. I told you Martha sold her stock based on info the was not availible to the public, by the time it became availble to the public the stock dropped 30%. Martha was long gone by then..thats illegal insider selling

30% impossible??? thats Laughable.

Bill Frist did nothing illegal, matter of fact I checked his transactions which are public info. He sold his stock at $45, the stock is now $48, So he lost money because he sold too soon. Is losing money a crime??

I dont make assumptions I only deal in facts. Yes I do have a wealth of investing experience, I could dwarf you with what I know about investing.

[Betababe]

Posted by TheCooler

I guess you didn't bother to read the entire article....

Try picking up the phone.....calling the company....and achieving 12 percent average annually......that's not going to happen....
The article clearly states that mutual fund managers who get 2-3 percent a year are considered financial geniuses.....these are the guys who get paid many millions of dollars a year to be the best at what they do......12 percent is virtually impossible without some kind of priviledged information.....
Seasoned ecomomists will tell you that corporate insiders normally outperform the market by 6-7% annually......Insider trading is not a secret at all....it's a commonly known fact.....just because it happens all the time.....doesn't make it legal.....securities fraud is rarely prosecuted.....the fact that senators consistently outperform even the corporate insiders is considered impossible to do......legally....
How much proof do you need?....it seems to me that senators are the ultimate insiders....

You tell me that any experienced broker can get me 30% per year average on my money?.....point me in the direction of this broker.....please....I'll hire him now.....no questions asked....

You also tell me that ImClone......the company involved in the Martha Stewart case.....is not available to the public.....You're wrong there....It's traded on Nasdaq.....I can buy it tomorrow if I want for about 30 bucks a share.....Martha could not have owned it in the first place if it wasn't available to the public....
The founder of that company.....Sam Waksal....was sent to prison for over seven years on charges of bank fraud....securities fraud.....perjury....and conspiracy to obstruct justice....

The reason that they're going after Bill Frist is because he was too obvious in his crime......just like Martha.....High profile people like this....who have enemies that are looking to take them down.....need to be more careful than most people when breaking federal laws....

I hate to disagree with your assumptions....because I know that at the ripe old age of 23....you must have a wealth of investing knowledge under your belt.....

[Viking65]

BetaBabe, no offense. Thanks for the reply. Sorry about the mistake.

[Betababe]

WTF is thisPoor little ipygenia (aka djstarzki)

Lets talk Facts
You have had at least 5-6 aliases removed from MF for attacks on others.
Kahginet.........profile deleted
djstarzki........profile deleted
notyourbusiness..profile deleted
lilacsandroses...profile deleted
theoldcrone......profile deleted
thats just off the top of my head.

How many of my aliases have been removed.....?

ZERO

You are most likely the most obnoxious, distruptive, confrontational posters who has EVER posted on MF.

My attacks???
remember when you attacked Raven ....that was low.
***********
by notyourbusiness(aka iphyginia)
Raven, I truly feel sorry for you. You will one day get back what you sow threefold. Sadly, I'm afraid, you will end up in an abusive relationship as you do not see fit to look at reality

Oh, and finally, don't believe Raven's wonderful mother act. I know from talking to some mutual chatters, that she does chat... very often. Or at least she did. And I also know a few other things... So, take it for what it is worth, but just don't always believe everything anyone says on these places. It is way too easy to lie, isn't it Raven and Phan?
******************

Like I said you get back what you give.
I have NEVER attacked anyone unless first attacked by them.
and 90% of the time I just ignore you're ilk.

poor little thing you..if anyone wants to see facts they can click on that little link on you're messages that says "ALL POSTS" to see how you go from board to board being obnoxious.

You never learn your lesson do you?

MODERATOR AND ########## staff
I am sorry for wasting bandwidth on your forum..But Iphygenia has been stalking and harrassing me for years.
I have asked her politely not to address me, however her OBSESSION with me wont allow that. As you can see by the name calling and bickering she has been doing on this forum.

[Betababe]

Sorry to disappoint you..
But No I am not the paid basher and naked shorter who was known as Yart.

[Viking65]

BetaBabe is that you Yart?

[Alex Chory]

here's a good one, been locked in this for 14months now

even after talking to the Pres. Shane Lowry where he said all money was accruing in the bank for another well or more
property....so where is he now, no news or peep for almost a year now, gotta give these guys credit for knowing how to draw the thin line..........and you know where Im coming from...
along the way this Joarcam well was supposedly sold to Fidelis
energy and the only way anyone would have known it is if they
had followed FDEI like I am,(btw, the deal was rescinded months later) who by the way is in cahoots with
Slverstar energy-SVSE who just sold all their Joarcam interest
to a big Canadian firm, now my my, why doesn't Dixon oil do the
same since the properties are adjacent? and the game of musical
chairs keeps playing on, only problem is, the investor is the
one that doesnt get any chair. go ahead, look at all their
long term charts:

http://stockcharts.com/def/servlet/SC.web?c=SVSE,uu[w,a]daclnyay[dd][pb18!d20,2][vc60][iUe12,26,9!Uf...

http://stockcharts.com/def/servlet/SC.web?c=fdei,uu[w,a]daclnyay[dd][pb18!d20,2][vc60][iUe12,26,9!Uf...

http://stockcharts.com/def/servlet/SC.web?c=DXNL,uu[w,a]daclnyay[de][pb18!d20,2][vc60][iUe12,26,9!Uf...

do they look like companys that are pumping oil and gas or
are they just pumping a lot of bullsh!t? my guess is the
latter.................of course

that JMHO
good luck to all
$$$$$


Dixon Oil and Gas Inc. Reports Cash Flow Positive on Joarcam Project "4-27" Oil and Gas Well

Tuesday , November 23, 2004 14:36 ET

VANCOUVER, Nov 23, 2004 /PRNewswire-FirstCall via COMTEX/ --Dixon Oil and Gas Inc. (OTC.PK: DXNL) has been in production on the Joarcam Property 4-27 well since January 2004. The company has recently paid in full all of the costs incurred during drill completion and tie in of the well. There are now full tank facilities and a pipeline in place on the property.

As mentioned in previous press releases, the 4-27 well is producing between 35 and 40 barrels of oil per day of high quality light crude oil. A quote price for West Edmonton Light may be found at www.petroassist.com.

The Joarcam property is a 40 acre parcel and remaining options on the property are being pursued. Currently the company has been getting third party engineering on oil reserves under the 4-27 well. When engineering is completed, Dixon will be able to make a qualified statement of proven reserves.

The companies website has experienced technical difficulties and is expected to be rectified immediately and a new investor relations company has been engaged.

Dixon Oil and Gas is a development stage company whose primary operating philosophy is to develop low risk, high yield, under developed oil and gas reserves in the United States and Canada utilizing the most current technology available

[kenco]

You should check out SCMI, they have been "just about finished" with their 2 year financial audit for over 3 years now, even better, they are about to merge into a reporting company that the CEO told investors, 3 years ago, that they were already merged into, you would think he would know wouldnt you????????????

[Sputnik]

Thanks babe, you to.

Did you see Natch's post over at RB? What a hoot! Everyone must be at the Salmonfest.

[Betababe]

Dunk tank or drunk tank?

Thats it...thats how they keep the PR guy sober.
I should have fiqured it out.

Take care sput

[Sputnik]

Dunk tank or drunk tank?

[Sputnik]

I wouldn't miss it. nysepk, Irish, jedi-sal, soslo, winkers, 2 X 2, jehe, gktignol, as well as many others. I remember natch saying that the plastenna material had corn in it at the last salmonfest. LOL!!

[Betababe]

Sputnik what gives????

Those are not recipes, I need some recipes for the salmonfest this weekend.
This is a good oportunity to get together with chief, quackdaddy, michmed, PK, danlboone, cpim, and all the other loyal longs.
I hope BillR brings some plas-a-ma-what-cha-call-it.

Its a shame that poor bill cooper always has to be in the dunk tank. though.

PS you are going to be there right?

[Sputnik]

Babe, I just had to!

By: honeste1
07 Mar 2003, 09:57 AM EST
Msg. 29803 of 46617
Jump to msg. #
Chief;
I don't think LAB is trying to say that you lost money on those other issues. I think he is saying that while you talk a lot about being "long" and all the advantages associated with a long strategy, None of the previous companies you owned and touted here were good long term plays.. so, since they are all at zero now, and you were just invested in them a couple of years ago, are you saying you have played ALL of the others short term, but that you think This one should be held long?? I am sure you can see the inconsistency of your history, can't you?? Oh well, I guess it would be different with this one except when you were holding the other ones that you sold, you were saying the same things about them that you are saying now about this one!!! It makes me wonder what your exit strategy is HERE!!! Did you let those folks that were following your comments know you were going to sell?? Or were they left with the impression that you still believed?? I guess that is the problem with giving daily, biased, opinions here. You will pick up folks along the way that will follow you and believe you are holding the stock when in fact you are long gone..