World Surveillance Group Inc (fka WSGI)

[good2be]

2nd RB post of int (151474):
StockGate: New ‘Poster Twin’ Emerges In Naked Shorting; Judge Says Overstock Should ‘Win’ / FinancialWire®

March 9, 2006 (FinancialWire) Remember Global Links (OTC: GLKC), called the “poster child” of the naked short selling scandal called StockGate that stopped an SEC Chair, William Donaldson, in his tracks while testifying to a hostile Senate Banking Committee, because an investor had filed that he had purchased more shares than were in the float?

Well, while the headlines have more recently been dominated by the War Between the Worlds of James Cramer, the half-subpoened founder of TheStreet.com (NASDAQ: TSCM) and the mostly indignant CEO of Overstock.com (NASDAQ: OSTK), another poster child has emerged, and its name is Loftwerks, Inc. (OTC: LFWK), whose stock gained 105.56% on volume of 26,019,096 Wednesday, to close at $0.037 after it too announced more shares purchased than available.

Loftwerks CEO Dennis Ammerman said that between treasury shares and restricted shares, insiders had purchased enough additional shares to exceed the 500 million share float.

Ammerman said the full details will be posted on the company’s website at http://www.loftwerks.com by March 14.

The fact that 20 million shares were traded when no legitimate shares were available raises the question as to where those shares came from. Critics of the Depository Trust and Clearing Corp., which is part of an investigation by state regulators, have said the “stock borrow” program results in the “counterfeiting” of shares for hundreds of public companies.

Since the DTCC is not transparent with its data, there is no way of knowing if there are counterfeit shares in the marketplace for Loftwerks, but if more than the float is locked up somewhere, the trades Wednesday, and presumably again today, are suspicious to say the least.

Meanwhile, the judge ruling preliminarily in the civil case between Overstock.com and defendants Rocker Partners and Gradient Analytics reportedly stated that he expects Overstock.com to prevail on the underlying merits, and essentially that Gradient and Rocker have failed to show they have a defense.

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Oh--and another IHub poster gets a mention (RB# 151476):
"LOL coop...have a guiness and chill out...read Logandean's post on the Ihub board about international bank transactions...this is a DONE DEAL...just trust."

AND a response (151484):
LOL at Logandean's post on iHub!! If his "sister" is right, then GTE has had 5 weeks now to get this transfer DONE! According to her, these types of deals would not take that long! LMAO at that one. Get a grip pumpers! See you bag holders at close tomorrow!

I will be the one LMAO at all of you succcccas!

MORE INFO ON THE RUSSIAN NEWS:
Techno - go to msg. 131354 over at the Yahoo board. There is a link to two Russian news articles in that msg. I have checked it out and they are from two different Russian news sources and are two different article. I cannot copy them for translation. In at least one of them, you need to scroll down a bit to find the GTE article. One of the articles is rather long.


one heck of a lot of sifting needed over there to get any type of nugget (they do have a few more SB than here.LOL) No more RB for me.