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***UPDATED DD ON METZINGER***
1. The CEO was sued for fraud by the SEC TWICE. (see below for lawsuit dockets). He "consented to issuance of permanent injunction and entry of judgment against Metzinger." Look at all the charges against him http://www.mary.cc/npct/7.htm
Here is the judgment. He showed the SEC that he was penniless then agreed to rat out his companies and associates in exchange for the injunction and judgment. If he breaks the settlement agreement, he consents to be tried as a criminal in criminal court. Here are the documents.
http://www.mary.cc/npct/NP1.JPG
http://www.mary.cc/npct/NP2.JPG
http://www.mary.cc/npct/NP3.JPG
http://www.mary.cc/npct/NP4.JPG
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Just say NO to stock fraud!
Agreed, muell
people should look at SEC documents, press releases, independent news items, the product, the industry and especially the management in order to do proper dd on an investment. The problem is that most people do not do this. They get a stock tip and run with it and lose all their money to hypesters. I don't want to see people get ripped off. I personally witnessed a super sweet older man who was way too trusting who lost his entire retirment on umcc because of the stock promoter, investor relations, lies from the ceo and the pump and dumpers. He believed what they said. They emailed him, posted on the board, called him up and made him by more shares at every dip. I don't want to see this happen to anyone else. I'm willing to take the abuse dished out by you people in order to protect others.
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Just say NO to stock fraud!
I posted info from SEC document
you see hal engel aka user willywizard.com, kathy knight aka user kknight, chad beemer aka user chad beemer in the SEC docs. You also see asiaonline in current SEC documents listed as investor relations. Kent Klook is listed as Kathy's partner in her site investortoinvestor.com which is all just paid promotion. You see joemoneyceo at marketreporter.com site with a disclaimer. They are being compensated either directly or independently through their own pump and dump actions.
Go to sec documents and you can see yourself. Current report shows asiaonline getting 2K plus a month. Go to older sec documents to see the rest of the hypesters. Search google for npct and you will see all the hype sites. One hypester even was sued by the SEC for his hyping. He predicted $9 a share. Just a bunch of lying promoters. more info here http://www.mary.cc/npct scroll down a little.
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Just say NO to stock fraud!
Negative messages are good
and memorable :-P
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Just say NO to stock fraud!
Negative posts are good
If you were deep into a stock which was actually a stock scam, what would you rather hear? "We're going to the moon!!!" or "They are going to do toxic funding which will make the price tank." If you heard the first one, you'd buy more of a losing company. If you heard the second one, you could get out before losing tons of money. I like hearing both sides of the story. Just hearing the positives will cause you to go broke very quickly. If there's something wrong with one of my investments, I want to know about it so I can make an enlightened investment decision.
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Just say NO to stock fraud!
the infamous double finger
http://www.mary.cc/images/finger2002a.jpg
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Just say NO to stock fraud!
sara is in love with me
It's tough being as cute as I am with all these ugly loonies out here
Enjoy!
http://www.mary.cc/images/finger2002.jpg
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Just say NO to stock fraud!
~*~UNPAID DD ON NPCT~*~
I will post this every time someone posts the paid DD.
1. The CEO was sued for fraud by the SEC TWICE. (see below for lawsuit dockets). He "consented to issuance of permanent injunction and entry of judgement against Metzinger." Look at all the charges against him http://www.mary.cc/npct/7.htm
2. The CEO was also sued for racketeering and was involved in a lawsuit over missing stock certificates.
3.The CEO's last company went bankrupt, i.e. Intercell. Other companies he was involved in went bankrupt also such as Faspaq. He also went bankrupt personally around 1989.
4. NPCT was started as a mining company then became a distributor of skylights symbol SUNY and now sells hitech? The assets of npct i.e. patents and patent applications were bought with printed shares from a division of Intercell. Intercell considered their value ZERO. CEO Paul Metzinger is also the CEO of Intercell. symbol IICP.OB http://finance.yahoo.com/q?s=IICP.OB&d=t As of 9/25 their stock is at .14
5. No direct revenue, no profits. They had a tiny tiny bit of income for consulting about something which had nothing to do with the company.
6. They have hired many, many stock promoters. One of them posted on the message boards that toxic funding is good and the funder was a good company when that was not the case. The company is currently suing the funder for stock manipulation and securities fraud.The funder Southridge Financial, Kernaghan are imfamous as corporate loan sharks who short stocks. More information on them here http://www.mary.cc/tk
7. They have an Open House every year which is basically just a stock promotion meeting. Here is a photo from it. They promote it heavily in Asia, Germany and the US yet they only had 35 people and I see at least five stock promoters in the audience. If this were a revolutionary product, how come more people weren't there? Why'd they even take a photo of such a small audience? http://www.nanopierce.com/daten/company/openhoeuse_event/oh_images/
Audience/Thumbnails/TN_the_audience1.jpg
8. Most of the DD on this company is paid promotion such as wallstreetreporter.com , investortoinvestor.com (Kathy Knight, Kent Klook), Investor Relations Worldwide Corporation asianinvestoronline.com , WillyWizard.com (Hal Engel) , marketreporter.com , ceocast.com, nanotechinvesting.com is company site, stockreporter.de, Charles Van Musscher of Gruenwald, Germany, The Geneva Group, Inc. of Ponte Vedra Beach, Florida and probably others. Check out their disclaimers on their sites. They have been paid to promote NPCT. Check out annual SEC reports and search/find for Investor Relations and you will see their names and compensation.
9. Paul Metzinger is also CEO of Intercell. They did a 1:20 reverse stock split and their stock is at .14 That means it is really worth less than a cent. He changed the stock symbol also. He wasn't even in any type of business. His words again "I am currently assessing with the Board of Directors various business opportunities, which could well form the basis for the future business activity of the Company. There are several opportunities which we find of particular interest and which are in markets of substantial size upon which to build a real operating company. We have no specific restrictions imposed upon our search. I invite any shareholder who may be aware of a technology or a business opportunity, which they think may be of interest to the Company, to please contact me."
10. Intercell also had problems with the SEC with their reports. They had to restate them. This straight from the CEO. "Our previously announced plan to restructure, recapitialize and refinance Intercell Corporation was, unfortunately, delayed because of a frustratingly long effort to accommodate the staff of the Securities and Exchange Commission on certain technical accounting issues relating to the audited financial statements for the fiscal year ended September 30, 1999."
11. The CEO begs shareholders not to verify contracts with other companies. This is very troubling and suspect.
http://www.nanopierce.com/daten/investor/press_archive/shletter14_09_01.html
"We are currently engaged in extremely sensitive discussions with many major global players in the microelectronics industry. These discussions and future business relationships can and will be jeopardized if shareholders make direct contacts with any of these companies in what may be a well intentioned effort to find out what is going on.
Recently executives of one company, at the highest levels, contacted us expressing extreme and troubling concern about calls received from inquisitive shareholders. These executives felt "compromised” being faced with answering questions about what they deemed to be inside material information, which obviously they could not disclose or even affirm or deny. These contacts must stop otherwise we may lose the opportunity to ever again deal with these companies. It destroys our reputation to be a trustworthy partner."
Then shareholders check out contracts as per SEC recommendation. Boeing said "Nanopierce who?" and Infineon clearly stated they are not doing business with Nanopierce. Others said no comment or did not respond at all.
Also, if you say you are in a related company and ask for a sample to try out, test, they say NO. What does that tell you?
Paul then states 10/2001 through his promoter Kathy that he will no longer be providing information to shareholders because of message board posters trying to verify his information. I personally believe he received a cease and desist letter from Boeing as Boeing told me they were going to find out what was up with Nanopierce.
12. NPCT stock promoter Stockreporter sued by the SEC for fraud in his promotions. Here is the npct stock promotion. Here is the SEC lawsuit against the Stockreporter. http://www.sec.gov/litigation/litreleases/lr16680.htm
13. Here Metzinger claims there are huge oil reserves for a company when there weren't. http://www.mary.cc/npct/1.htm
14. Here are some investors burned by Paul posting on Silicon Investors about him and his scams. http://www.mary.cc/npct/3.htm and yet another burned Intercell Investor, same scam over and over again. http://www.mary.cc/npct/4.htm
15. A recent unbiased article about NPCT. http://www.mary.cc/npct/5.htm This is the only honest article ever written about the company I believe. He did some good DD.
16. Metzinger rips off his business partners as well.
Paul shouldn't have a law license.
http://ragingbull.lycos.com/mboard/boards.cgi?board=NPCT&read=59053
Paul doesn't keep promises to his partners.
http://ragingbull.lycos.com/mboard/boards.cgi?board=NPCT&read=59052
http://ragingbull.lycos.com/mboard/boards.cgi?board=NPCT&read=59050
Louis wins his appeal
http://www.courts.state.co.us/ctappeals/caseann/12-6-01.htm
Article about Paul and Louis
http://www.mary.cc/npct/6.htm
Here are lawsuit dockets
105 METZINGER, PAUL codc 1:1989cv00227 02/08/1989 850 02/23/1989
SECURITIES & EXCHANGE vs. PAUL METZINGER
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Just say NO to stock fraud!
klook is paid stock promotion
His partner is kathy knight who is listed as investor relations in npct sec documents. Where is his disclaimer in that post?
Look at all these promoters. beemer, engel, knight have all posted on these message boards hyping npct. They are paid to post here.
DATE TITLE OF SECURITIES # OF SHARES CONSIDERATION PURCHASER
---- ------------------- ----------- ------------- ---------
7/1/98 . Common Stock 186,500 Investor Relations Putter Consulting
7/1/98 Common Stock 24,500 Investor Relations Kathy Knight-
McConnell
7/1/98 Common Stock 6,250 Investor Relations Hans Kast
7/1/98 Common Stock 6,250 Investor Relations Roger L. Smothers
Series B Preferred Stock 500 $ 500,000 Hirsch
8/19/98 Common Stock 17,730 Series B Conversion Hirsch
Series B Preferred Stock 250 $ 250,000 Hirsch
9/8/99 Common Stock 134,146 Series B Conversion Hirsch
10/26/98 Common Stock 71,023 Series B Conversion Hirsch
11/3/98 Common Stock 90,992 Series B Conversion Hirsch
11/4/98 Common Stock 94,697 Series B Conversion Hirsch
12/18/98 Common Stock 252,016 Series B Conversion Hirsch
6/3/99 Common Stock 70,000 $ 50,000 Investors
6/3/99 Common Stock 100,000 Investor Relations Harold Engel, Jr.
6/17/99 Common Stock 52,500 Exercise Option Thomas Vander Stel
6/30/99 Common Stock 6,235,000 Series A Conversion Intercell Corporation
6/30/99 Common Stock 4,650,000 Repayment of Loan Intercell Corporation
Shares
6/30/99 Common Stock 752,550 Dividend Shares on Intercell Corporation
Series A Preferred
Shares
6/30/99 Common Stock 144,000 Investor Relations Stock Enterprises
6/30/99 Common Stock 250,000 Consulting Services Bert Roosen
6/30/99 Common Stock 30,000 Investors Relations Chad Beemer
6/30/99 Common Stock 10,000 Interest on Rose & Richard Gram
Promissory Note
6/30/99 Common Stock 5,000 Interest on SBR Partnership
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Just say NO to stock fraud!
sara removed a post which you restored
THAT is my point. It was pure honest dd with links, nothing more.
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Just say NO to stock fraud!
sarals removed pmcy post of mine twice
sorry to have to correct you, matt.
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Just say NO to stock fraud!
Any people in electronics here?
Please contact the company and ask for a sample product to independently verify yourself. They will not send you a sample because they don't want people to see that it doesn't work the way they say it does. There must be something wrong with it. Theoretically it sounds great though most stock scams do. That's how they make the money. It must either cost too much to make, not work well, impossible to build, falls apart easily, doesn't transfer the information properly or have some other problem. Why are people not buying it?
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Just say NO to stock fraud!
NPCT hasn't made anything!
There are no connectors, just an idea for one. What are you talking about? They have no real revenue, no profits, no contracts, nothing, nada, zip.
Read the press releases and news articles.
Also, the two lawsuits don't have much to do with the actual scam. Sure, only scams or desperate loser companies take toxic funding but that's not the real scam. The scam is that the product has been in the developmental stage for years. They've been saying contracts, any day since 1999 yet they have none. They finally showed that the product is "real" at a company open house. There has been no independent verification that it's real or can be profitable. This product supposedly will revolutionize the entire world if you've read any press releases. If it's so hot, how come they couldn't even get a regular loan? Why hasn't anyone offered to buy it? Why did the patents have a value of zero for years on Intercell books? Why have they show cased their product supposedly at different events and in press releases everywhere for years but no one's bought it? Because it probably doesn't exist the way they say it does.
Do some DD. Here's a good place to start http://www.mary.cc/npct
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Just say NO to stock fraud!
Not ALL otcbb companies are scams
I've never said that nor do I believe it. In general otcbb's are startups, smaller companies and/or companies that have slid off naz and amex. There are also a lot of total and partial scams thrown in there. There are scams in there because otcbb companies have less scrutiny, fewer eyes on them and they're easier to manipulate, just like the article I posted said. When you get some startup, developmental and some dying companies in there, you are going to have a lot of bankruptcies. In general quite a few new companies fail anyway. That's the nature of capitalism. In sales I remember that 20% of the agents did 80% of the biz. The failure rate for new agents was 60% the first year and 80% the second year. That's like a bk rate of 80%. That's just the way it goes. How many companies that started five or ten years ago are still around? Only the real successful ones.
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Just say NO to stock fraud!
Muelhead, please take a look at npct
The ceo paul metzinger released a PR stating that they're in talks with infineon, philips, texas, ibm and boeing. I contacted all those entities and they said they were not in business, never heard of them or no comment. Boeing even said they would contact npct about the matter and they were not pleased. Then the ceo of npct sends a letter stating that because of a certain message board poster he will no longer be able to inform the shareholders about the company's doing. Does that sound like an honest ceo to you? He's a liar.
If you are going to be in charge of this board, you need to do some dd on the company so you can tell if posts are correct or not.
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Just say NO to stock fraud!
Penny stock scams 2
Penny stock scams
By Jay Perlman (TMF Jay)
February 23, 2000
As shown in the last article, the microcap market has some characteristics that make it an effective forum for fraud. OK, but exactly what kind of scams take place in this market, and how do you recognize them?
Microcap, or penny stock fraud first became popular in the 1940s and 1950s when worthless shares of uranium mining companies were bought and sold over the counter of a Salt Lake City coffee shop. In the 1980s, precious metals mining companies and oil and gas companies promised investors a pot of gold at the end of the rainbow. Additionally, "blind pool offerings" became a popular vehicle of microcap or penny stock fraud. Blind pool companies had no assets, earnings, employees, or any sort of business plan. Promoters simply told investors "we don't have a plan or a product, but give us your money anyway, and we'll use our expertise to find the right opportunity for you. Just trust us, we'll make a lot of money for you." Blind pools were effective because investors were so hungry for a quick return that they'd rely on the representations made by the promoters.
By the 1980s microcap fraud was being promoted from boiler rooms in Denver, Salt Lake City, Spokane, and Boca Raton. They employed thousands of cold callers who read from scripts designed to prey on investors' desire to "get in on a ground floor opportunity," and the callers simply refused to take no for an answer. A typical cold calling script said:
"Stop right there! You're a businessman and you make decisions every day. You didn't get where you are by being stupid... Let's confirm the order now. OK?"
Cold callers were expected to follow the scripts to the letter and were also discouraged from doing any outside research.
As we move into the 21st century, microcap fraud has taken on a new look. The Internet has allowed the creation of a cyber-boiler room, a quicker, more efficient, and cheaper alternative to the traditional boiler room. With the Internet, a fraudster no longer has to incur rent, salary, and telephone costs. Mining and extractor programs allow pitches to be more targeted and more personalized. Finally, investors seem to lend an air of credibility to information they see on the Internet.
Whatever the medium, the scheme, known as the "pump and dump," is always the same. Microcap stocks are great targets for pump-and-dump schemes because they are low-priced and thinly traded, and it's easy to gain control of the company. For example, if a company has 1,000,000 shares outstanding and trades at $0.10 per share, anyone can gain control of the company for as little as $60,000 ($0.10 multiplied by 600,000 shares). Once a fraudster and some of his associates have control of the company, the price manipulation begins. Dissemination of bogus press releases and choreographed buying and selling give the appearance of legitimate investor interest, so the price begins to rise. Investors, not wanting to be left behind, begin buying, which leads to further price increases. When the price gets to a certain level, the fraudster and his buddies dump their holdings for a handsome profit. The "dump" causes the price to collapse, leaving innocent investors holding the bag.
As mentioned in the previous article, The Motley Fool hates penny stocks. But, if you're going to buy penny stocks, you need to know how to avoid a scam. If you do take our advice and decide to stay away from penny stocks, you should find this information helpful in avoiding other types of scams.
Beware of high-pressure sales tactics. Don't succumb to a sales pitch pressuring you to invest in a "once-in-a-lifetime opportunity" before you've had the chance to fully analyze it. Be wary of repeated solicitations for the same investment. If the investment returns sound too good to be true, they probably are. Any discussion of a product that will "revolutionize the industry" should give you pause. If a previously dormant company begins issuing press releases every day, it may be a sign that the stock price is being manipulated. Be especially wary when the press releases discuss "imminent" regulatory approval or talk about new contracts with "undisclosed" parties or "certain government agencies." Any press release that can't be easily verified should make you think twice about investing. Mergers with shell companies (public companies that have no assets or operations and are simply used as merger partners to facilitate public trading) or sudden, dramatic shifts in business are also potential warning signs.
If the investment is being promoted by an online newsletter, be suspicious if it does not specifically disclose these items: who paid them, the amount, and the type of payment. You should also be suspicious if the compensation is disclosed, but the disclosure is buried someplace in typeface that would be impossible to read without a magnifying glass. Legitimate online newsletters that have been paid to tout stocks will clearly and specifically tell investors who paid them, the amount, and the type of payment. At least with clear disclosure, you'll know that the promoter's advice may be biased. Should you invest then? Who's to say? But at least you'll have the information you need so you can make your decision.
In 1996, a company named Uniprime Capital Acceptance incorporated in Nevada and began its business of acquiring automobile dealerships. Uniprime also provided auto financing and in 1999 began branching out into auto insurance. As recently as June of 1999, Uniprime's stock was trading at about $0.50 on an average daily volume of 10,000 shares. Deciding that the car business was not the business that would make the company's stock price take off, Uniprime issued a press release stating that one of its subsidiaries, led by Dr. Alfred Flores, had made a "major breakthrough" in treating HIV. Several additional press releases touting the discovery and Dr. Flores' background were issued in the subsequent weeks. Additionally, online message boards were flooded with conversations about these disclosures. This drove Uniprime's stock price to $7.95 on volume of five million shares in a few days.
Turns out that at the time of Flores' supposed discovery, he was in jail for conspiracy to commit murder. Furthermore, the closest Mr. Flores had ever come to the medical community was the time he spent as a janitor at a nursing home. Information regarding his background, the purported cure, and its effectiveness were completely fabricated. When this was revealed, Uniprime's stock price collapsed. Mr. Flores is currently in jail and a federal investigation continues.
Sounds ridiculous, but it's true. The lack of unbiased information about Uniprime, the effective use of the Internet to promote the stock, and its low price made this a textbook example of microcap fraud. Investors got sucked in by the lure of quick riches and failed to heed the warning signs.
Back in 1994, as an April Fool's prank, The Motley Fool created Zeigletics, a penny stock that was purportedly traded on the Halifax Exchange. Even though the company, its product, and the exchange were complete fabrications, financial message boards on America Online and Prodigy were filled with lively discussions about the company. People actually tried to purchase Zeigletics stock based solely on what they read on the message boards! What it proved was that people are so eager to make a quick buck that they neglect to do their homework. Our view of microcap stocks is nicely summed up by the following posting on the Zeigletics message board:
The point Joey Roman is making is pretty clear (by the way, Joey Roman was the name given to the fictional person who was hyping Zeigletics stock): It is so easy for a fast-talking hypester to establish a position in a low-volume stock, rattle off a bunch of crap that sounds plausible enough to convince a novice, let the price pop due to uninformed amateurs flying in, and sell into the rise, laughing all the way to the bank.
Dear people, learn to evaluate and think for yourselves. There are some legit stock pickers on this board, and good ones at that, but please check their records and do your own research before buying.
The full story of Zieglitics can be found here.
Our advice: Stay away from microcap stocks.
Warning Signs
Pitches that say you can get in on the ground floor of the next big thing
Companies that make sudden shifts in their business
Mergers with companies that nave no assets, operations, or products
Press releases with information you can't verify
A sudden unexplained increase in the company's assets or stock
Promoters who bury the fact that they've been compensated for promoting the stock
Sudden increase in traffic on financial message boards
What to do if you get scammed
While the Internet is a quick, easy, and efficient way for fraudsters to target investors, the Internet is an equally effective way for aggrieved investors to seek justice. One of the most impressive characteristics about the Internet is the "vigilante" attitude toward securities fraud. For the most part, people want to keep the cyber-streets free of crime and set up their own "neighborhood watch" programs. There are websites, newsgroups, chatrooms, and bulletin boards devoted to exposing securities fraud. Visit these websites, send e-mails, post on message boards, and discuss the problem in chatrooms. Organize campaigns among defrauded investors and complain en masse. The more people that complain, the more the problem gets noticed, and that's what you want.
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Just say NO to stock fraud!
Penny stock scams 1
Here it mentions that penny stocks and banrkuptcy go hand in hand. I will keep looking for that link on the stats.
Stock scams
Penny stocks
By Jay Perlman (TMF Jay)
February 23, 2000
As the bull market continues to rage, there are more and more stories about people who put a few thousand dollars in a stock and watched their investment soar to tens or even hundreds of thousands of dollars. For some investors, this translates into pressure to find the next "hot stock."
Unfortunately, an increasing number of people think the "hot stocks" are microcap or penny stocks. After all, who can resist a sales pitch that begins by telling prospective investors that if they had bought Microsoft, Intel, Yahoo!, or eBay when they were fledgling companies with stock prices of a few bucks, they'd be multimillionaires by now. The allure of these millions is what has spurred the popularity of the microcap stock market. Let's first take a look at what the microcap market is, and then we'll give you our Foolish opinion.
A microcap stock, or penny stock, is defined as a stock whose price is less than $5 per share. Most microcap companies have limited assets (anywhere from a few thousand dollars to a couple million dollars), and most of the time their stocks trade a few thousand shares per day, or may go days without trading at all. In many instances, these are companies that have no history of operations or earnings, and their entire business is still in the idea stage.
Microcap stocks are usually traded in The Wild West of the financial world -- the over the counter bulletin board (OTCBB) and the pink sheets. The OTCBB is an electronic quotation system that allows brokers to enter price bid and ask prices (The bid is the price closest to the last transaction that buyers are willing to buy at. The ask is the price closest to the last transaction that sellers are willing to sell at). The pink sheets are updated daily by the National Quotation Bureau and are only available to subscribing brokers. Unlike other trading markets, like the New York Stock Exchange or Nasdaq, neither the OTCBB nor the pink sheets have a minimum listing requirement, meaning that stocks with prices of just a few pennies can get listed on the OTCBB or in the pink sheets.
So you're thinking of investing in a microcap company -- where and how do you find out more about the company? Good question. Any company that has more than 500 shareholders and $10 million in assets is required to file annual and quarterly reports with the SEC. These reports are integral to any investment decision since they contain information about the company, its management, its products, and audited financial statements. Most microcap companies do not have to file these reports with the SEC because they do not have the requisite number of shareholders or level of assets.
This lack of public information is one of the biggest reasons the microcap market is a forum ripe for fraud. Public information is perhaps the most important ingredient to making an informed investment decision. You can't do that if you don't have this information. Additionally, because most microcap companies have no operating or earnings history, there is usually no analyst or press scrutiny of the stock. The end result is that there is an absence of unbiased information in the marketplace. Because of this dearth of information, and because microcap stocks usually trade a few thousand shares per day if at all, they can be illiquid, or hard to sell. Thus, if you get in, you may have trouble getting out. Currently, there are approximately 6,400 companies on the OTCBB. That's a lot of companies floating around without the information investors need.
What do we at The Motley Fool think of microcap stocks? Our counsel on any company that you like is to wait for it to be valued by the market for at least $5 a share. Because of a penny stock's low price, it is very easy for a fraudster to gain control of the outstanding shares. Once a fraudster secures a large percentage of the outstanding shares, it becomes quite easy to artificially manipulate the stock's price. Penny stocks are the public market's own brand of lottery ticket -- the engine of financial dissolution among those who have not been educated about money.
Why, when they present such little opportunity to long-term investors, do penny stocks still attract attention? Many new investors will buy them up, not having been taught that bankruptcy and microcap companies travel arm in arm. Inexperienced investors may be attracted by the fact that they can buy many shares for little money. For example, if you were looking to invest your $2,000 IRA contribution, you could buy only 40 shares of a stock trading at $50 per share. However, you could buy 4,000 shares of a microcap trading at 50 cents a share.
The combination of the opportunity to hold large share positions and the appearance of unlimited upside draws scads of new investors into this most highly speculative form of equities. After all, if the microcap stock goes up just fifty cents (using the example above), the stockholder would double his or her money. Never mind that the odds are very remote that this penny stock will rise and then sustain its gains.
For all of these and other reasons, The Motley Fool warns against the dreaded penny stocks. We do not report on penny stocks, except to share horror stories. Though we will not open discussion boards for our community members to discuss penny stocks, we do present the unfortunate confessions of burnt microcap investors, which litter our "My Dumbest Investment" message board at Fool.com. Also, this FoolU article has some more Foolish perspective on penny stocks.
Recent news reports have noted that microcap fraud bilks investors out of approximately $2 billion per year. With microcap fraud on the rise, securities regulators and law enforcement agencies are taking steps to combat microcap fraud. Criminal prosecutions have increased and securities regulators are taking measures to close loopholes in the law that are exploited by fraudsters. In a major investigation began in 1995 by the FBI, the United States Postal Inspection Service, the United States attorney's office for the southern district of New York, the SEC, and the National Association of Securities Dealers (NASD), approximately 80 people have been convicted or pled guilty of securities fraud charges in connection with microcap fraud schemes. On a regulatory front, both the SEC and the NASD have taken steps that will require all OTCBB companies to begin filing reports with the SEC by June of 2000.
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Just say NO to stock fraud!
I saw the statistic on an investment site
I am trying to find it again. I've seen others quote the same figure as well. It's not just my opinion.
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Just say NO to stock fraud!
As 9/10 otcbb companies go bankrupt,
if you "bashed" them all, you'd have a pretty good record
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Just say NO to stock fraud!
I am right over 75% of the time
Every company that I have said would go bankrupt has gone bankrupt i.e. AFV, BIGX, EZR, TMOT, UMCC. Go read some old RB posts and you can see. The Yahoo boards for those companies are all gone as they drop companies that go to otcbb. They all started on amex or naz. I also looked at ASTN and called it suspect in March 2000. I think it was around $2 then and it's now at .19 and will go lower as more toxic funding is just around the corner. Right now I'm looking at scammy npct. http://www.mary.cc/npct I haven't made a bankruptcy call yet but I do believe they are a very suspect company. I doubt that their product works as well as they say it does in the real world.
I generally start off very polite then everyone attacks me, the messenger of the honest negative news. After taking it for a while, of course I'm going to react. I'm human like everyone else.
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Just say NO to stock fraud!
Once a con man, always a con man
Paul Metzinger has had constant trouble with the SEC. A lawsuit in 1988, two lawsuits in 1989, went bankrupt personally in 1989, sued for racketeering in 1991, 1996 sued for missing stock certificates, 1999 SEC forces him to restate Intercell books, 1998-2002 he is again misleading investors with misleading npct press releases, letters and inaccurate SEC documents. Does anyone see a pattern here? Also, how come NONE of paul's companies were ever truly profitable? Why'd they all go out of business? Who in their right mind would trust this guy with their money? I sure as heck wouldn't.
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Just say NO to stock fraud!
It is new news
I asked paul about this lawsuit and he refused to answer. I asked klook and kathy about it and they refused to answer yet they all had the information handy. Not until I posted some quotes from it do they finally post the information. Why did they not post it when everyone asked for it? Why did they try and hide it from investors? Just goes to show that the company and paid promoters try to keep the truth from investors.
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Just say NO to stock fraud!
how do download a midi
look at the source code of the page it's on. Then copy the url of the midi e.g. http://www.realriders.com/cards/lovergirl.mid put that in your go to line, hit enter, then your computer should prompt you to save the file. Click save and just remember where you put it.
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Just say NO to stock fraud!
I had an otcbb stock scam board going
maybe I'll reopen it. For now I just profile them in my site
http://www.mary.cc/npct
http://www.mary.cc/astn
and I also cover scammy stock promoters
http://www.mary.cc/wbn
and suspect entities
http://www.mary.cc/tk
and a few other things
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Just say NO to stock fraud!
New SEC doc from Kingsway
http://realtimefilings.nasdaq.com/ShowFilingDoAction.asp?FileName=0001012870%2D02%2D000004%2Etxt&...
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Just say NO to stock fraud!
The CEO being sued for fraud by SEC is good news?
I didn't think so.
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Just say NO to stock fraud!
Welcome back, Bob
What a surprise too. Glad to see things working out. Sorry I didn't say hello earlier but I've been busy outing stock scams
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Just say NO to stock fraud!
Thank you willy
buh bye now
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Just say NO to stock fraud!
CEO Paul Metzinger is a con man
SEC vs Paul Metzinger: what a con man
http://www.mary.cc/npct/7.htm
On December 19, 1988, without admitting or denying any of the allegations contained in the above-referenced complaints, except as to jurisdiction, which was admitted, Metzinger consented, to the issuance of an order of permanent injunction and to the entry of final judgment thereon. The order was entered by the federal district court on February 23, 1989. Pursuant thereto, Metzinger is permanently enjoined from violating Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 ("Securities Act") Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act") and Rule l0b-5 thereunder, and Rule 13b2-1 under the Exchange Act; and aiding and abetting violations of Sections 10(b), 13(a), 13(b), 13(d) and 15(a) of the Exchange Act and Rules l0b-6, 12b-20, 13a-1, 13a-13, 13b2-2 and 13d-1 under the Exchange Act.
In brief, Metzinger was alleged in the above-referenced complaints to have, among other things: (1) offered and sold unregistered securities; (2) substantially participated in the unregistered distributions of others by writing instruction and opinion letters to transfer agents and by helping to arrange an exchange and the issuance of stock; (3) made material misstatements and failed to disclose material information in connection with writing or disseminating instruction and opinion letters, press releases and reports filed with the Commission; (4) participated in the fabrication of a consulting agreement in connection with which a company fraudulently reported income; (5) made false and misleading statements to outside auditors in connection with the preparation of reports filed with the Commission; (6) prepared stock-ownership reports containing false and misleading information and filed such reports with the Commission; and (7) participated in a pre-arranged merger agreement which rendered false and misleading a Form S-18 registering a blank check offering, and then prepared and filed false posteffective amendments containing false disclosures with respect to this agreement.
Based on the foregoing, the Commission finds that Metzinger has been permanently enjoined pursuant to a court order and that judgment has been entered thereon, with his consent, by a court of competent jurisdiction in an action brought by the Commission. The court order enjoins Metzinger from violating Sections 5(a) 5(c) and 17(a) of the Securities Act, Section 10(b) of the Exchange Act and Rule l0b-5 thereunder, and Rule 13b2-1 under the Exchange Act; the order also enjoins Metzinger from aiding and abetting violations of Sections 10(b), 13(a), 13(b), 13(d) and 15(a) of the Exchange Act and Rules l0b-6, 12b-20, 13a-1, 13a-13, 13b2-2 and 13d-1 under the Exchange Act.
more information here http://www.mary.cc/npct
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Just say NO to stock fraud!
I emailed paul and he didn't respond
that was it. He refused to answer the questions about the SEC lawsuits and other things. I even had someone else email him and ask him the same things. No response.
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Just say NO to stock fraud!
Hal Engel is paid company stock promotion
He was given shares by npct and is listed as investor relations in npct sec filings
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Just say NO to stock fraud!
I contacted Paul and he refused to answer
My post was correct. He was sued for securities fraud. He's a con man. He's doing the same con even, misleading press releases, misleading docs to the SEC...
more info here http://www.mary.cc/npct
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Just say NO to stock fraud!
SEC vs Paul Metzinger: what a con man
http://www.mary.cc/npct/7.htm
On December 19, 1988, without admitting or denying any of the allegations contained in the above-referenced complaints, except as to jurisdiction, which was admitted, Metzinger consented, to the issuance of an order of permanent injunction and to the entry of final judgment thereon. The order was entered by the federal district court on February 23, 1989. Pursuant thereto, Metzinger is permanently enjoined from violating Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 ("Securities Act") Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act") and Rule l0b-5 thereunder, and Rule 13b2-1 under the Exchange Act; and aiding and abetting violations of Sections 10(b), 13(a), 13(b), 13(d) and 15(a) of the Exchange Act and Rules l0b-6, 12b-20, 13a-1, 13a-13, 13b2-2 and 13d-1 under the Exchange Act.
In brief, Metzinger was alleged in the above-referenced complaints to have, among other things: (1) offered and sold unregistered securities; (2) substantially participated in the unregistered distributions of others by writing instruction and opinion letters to transfer agents and by helping to arrange an exchange and the issuance of stock; (3) made material misstatements and failed to disclose material information in connection with writing or disseminating instruction and opinion letters, press releases and reports filed with the Commission; (4) participated in the fabrication of a consulting agreement in connection with which a company fraudulently reported income; (5) made false and misleading statements to outside auditors in connection with the preparation of reports filed with the Commission; (6) prepared stock-ownership reports containing false and misleading information and filed such reports with the Commission; and (7) participated in a pre-arranged merger agreement which rendered false and misleading a Form S-18 registering a blank check offering, and then prepared and filed false posteffective amendments containing false disclosures with respect to this agreement.
Based on the foregoing, the Commission finds that Metzinger has been permanently enjoined pursuant to a court order and that judgment has been entered thereon, with his consent, by a court of competent jurisdiction in an action brought by the Commission. The court order enjoins Metzinger from violating Sections 5(a) 5(c) and 17(a) of the Securities Act, Section 10(b) of the Exchange Act and Rule l0b-5 thereunder, and Rule 13b2-1 under the Exchange Act; the order also enjoins Metzinger from aiding and abetting violations of Sections 10(b), 13(a), 13(b), 13(d) and 15(a) of the Exchange Act and Rules l0b-6, 12b-20, 13a-1, 13a-13, 13b2-2 and 13d-1 under the Exchange Act.
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Just say NO to stock fraud!
npct news today
and nobody posted here. When you read the news item keep in mind that their share price of $15 is actually .45 in US dollars. They also state that it's just a letter of intent to look at the product further. They think it may possibly be good. They obviously don't know for sure or they would state that, sign a contract and give npct money.
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Just say NO to stock fraud!
year end recap by mmmary
Share price $2.50 to .08
Outstanding shares from 36M going to 250M
evwap volume going down
toxic funding
running out of money
fred lying
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Just say NO to stock fraud!
yet the news of the mob and astn is not?
funny how that works.
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Just say NO to stock fraud!
CEO found guilty of securities fraud by SEC
CEO found guilty of securities fraud
He lost the SEC case against him in 1989. Just got off the phone with the Colorado federal archive of cases. He "contented to issuance of permanent injunction and entry of judgement against Metzinger."
I will post hard copy when they mail it.
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Just say NO to stock fraud!
That wasn't a company press release
astn didn't release the news. The entity who converted the shares released the news. It is a hong kong holding company trading in the canadian system out of bermuda.
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Just say NO to stock fraud!
My point is....
...I post news and you guys call it old news instantly just because it was seen once before. If it's bad news, you guys call it old news.
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Just say NO to stock fraud!
is this a joke willy?
It's not siliconinvestorS but siliconinvestor
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Just say NO to stock fraud!