Stock Scams (SCAMMED)

[dovidrich]

there are a few stocks

that i have been scamed....i wont mention them ,but give an example.... i buy a stock at .26 cents they do 10 million in revenue a year today three years later doing 50 million in revenue the current price .0055 thats less then a penny why always more shares being issued... and there is nothing we can do about it...we post on the board this and that there selling this and that.. they hired this one and that .....they just sold this...and at the end of the year ..more and more shares were added and nobody made any money... can someone comment on that.

[IsARealPro]

MGGV.pk and VPFI.pk

[Papagaio]

CSHD - need I say more?

[amoneymakernow]

Great idea for a board.
My biggest clunker ever.
SUNNCOMM - SCMI and their cell company MEDIAXAX TECH - MMXT
The two were to merge over a year ago, and used investor dividends to fund stated merger. The didvidends were used as carrots to lure newbies to purchase SUNNCOMM. This has gone to sub-penny, yet the SCMI board moderators (I.E insiders) continue to pump this up with absurd optimistic posts, while deleting all that question the integrity of the company and it's officers.

[homer321]

http://www.investorshub.com/boards/board.asp?board_id=7070

[homer321]

http://www.investorshub.com/boards/board.asp?board_id=7251

[inxy]

WNCP - have nothing - doing nothing. Read the last 50 or so posts in particular "Crissy Lucky7".

[ruddidust]

My worst one to date is GFYD, which used to be GFYO,GFYF,GFYS, etc, etc. I bought only 700 dollars worth, thank god!!! It was cheap enough that 700 got me a half million shares. Shortly after I bought it it had a reverse split 2500 to 1, and then shortly after that it had another R/S for 2500 to 1 which left me with one share that dropped to well under one cent. They are a food company (GFY foods) that semed to be doing OK as far as buying up stores and restaurants, but it seems that the CEO was more interested in raising capital than about the stock price or the stockholders.

[Papagaio]

How about IDCN - Indocan Resources - which is still operating. www.indocan.com if you want to have a look. Not sure if it's a scam or just an extremely incompetent CEO (who appears to be the only employee). All I know is I invested about six months ago when they were buying a portion of a series of oil wells. They struck oil and expected a huge BPD count (barrels per day) in the remaining three wells. Needless to say, didn't happen. Instead, the company that IDCN purchased a percent interest in, Sunray Oil, went under. The SEC jumped in and filed litigation. Then it turns out that the contract IDCN secured with Sunray was suddenly missing. Missing. Gone. In other words, they paid out 1/4 of the company's cash ($250K) for nothing in return. IDCN responded by stating they would follow the SEC litigation closely (and briefly posted updates on indocan.com) but now all information about Sunray and those wells is gone. They have since purchased interest in Flying A Petroleum in Canada, which is digging for natural gas. It looks like the same thing all over again.

Like I said, not sure if it's a scam, it could be incompetence (prior to the oil well, the company had a long history of failed endeavors in oil, gems, and precious metals, among others). But if anyone who invests in IDCN happens to read this, beware of its past. If this is a scam, the drilling that is supposedly occurring right now is likely fake or the "contract" doesn't exist.

Tread lightly.

As usual, all of the above is IMO.

[wackyone]

Lets start my story about a stock called CPCO.

http://www.cengrouppetroleumcorp.com/

Over the summer this stock was being so pumped up, like a teenage boy trying to get laid at the homecoming dance.
They made it sound so good, even had a number to a guy called Rick who really was pushing this CAMEL. Many people have made efforts to contact people in this company and found many dead ends. And if you look at how it's been trading the last week or two, raises many red flags.

IMHO

[wackyone]

O.K., let me be the first to welcome everybody to this new board. Anybody that wants to vent, complain, post the truth when other boards just delete it, feel free to do so in my forum. This is a place for investors to speak their minds. The only thing that won't be tolerated is name calling at other people on this board and those posts will be deleted. I think we can rip on these scam artists without attacking each other.