Buckey, this guy on the MNCS board says he read the article in Vancouver Sun and this is his take on it:
Posted by: fivespicerub
In reply to: None Date:10/7/2006 1:03:19 PM
Post #of 109
It looks like this stock is another stock scam. There is an article by David Baines,Vancouver Sun newspaper reporter in the paper today. I can't show you the article but if you go to google and put in David Baines - Vancouver Sun you can see the headline.
Posted by: fivespicerub
In reply to: The_Free_Nebula who wrote msg# 92 Date:10/7/2006 3:19:38 PM
Post #of 109
Personally I don't care what you think. I'm just fed up with all the scammers out there. I've been burned a few times myself. The article is to long to to write on this site, but I'll give you a few tidbits.
Under the proposal, Manchester will issue so many shares that the owners of PAACO Group will emerge as the controlling shareholder. (This is called a reverse merger.) The company also says it has established credit lines totalling $375 million US to finance the acquisition and operation of a nationwide chain of Buy Here/Pay-Here outlets. But nearly 2 years have passed, and not a single outlet has been aquired. As of May 31, the company still had no revenues and total assets were just $600,240 US. The Stock is being touted around Vancouver. This week, one of my hockey buddies said he was being pressed to buy it. But if it follows the usual pattern, the main target wil be Americans and they will almost certainly be burned by this Vancouver-made weapon of financial destruction.
Posted by: fivespicerub
In reply to: The_Free_Nebula who wrote msg# 98 Date:10/7/2006 5:03:49 PM
Post #of 109
I admit it sounds good but this is what David Baines had to say. High-interest loans to high-risk borowers is a popular theme in penny stock promotions. The business model has appeal because it promises high rates of return but the less appealing fact is that high risk borrowers usually have high rates of default. Earlier this year, the BC securities Commission issued a cease-trade order against Insta-Cash Loans in Nanaimo, which used the same business model but suffered a heavy default rate and dissolved in a ponzi scheme.
Posted by: fivespicerub
In reply to: The_Free_Nebula who wrote msg# 101 Date:10/7/2006 5:38:19 PM
Post #of 109
This might be something to think about. In the article it say "It's an investor's dream," Konrad Imielinski, remarked on the website Seeking Alpha, which publishes stock market opinion and analysis. " Ihave been following the mysterious Manchester Inc. for quite a while now and the brilliancy of its performance is dumfounding." The stock seems too good to be true. May 15th was the last day prices had a negative downtick. The daily pattern in which this stock continues to progress is shocking; it moves in penny-like increments" John Woods, editor of Vancouver based Canada Stockwatch, took on look at the chart and said, "There is no contest between buyers and sellers here. Somebody appers to be fooling with Mother Nature." Woods said he had never seen anything like it before, whis quite a satement from somebody who has been flowwing junior stacks for 39 years.
