WAMEX (fka WAMX)

[jorjenzak]

By: HSJOCK
Reply To: None Monday, 19 Jun 2000 at 5:33 PM EDT
Post # of 23608


wamx shareholders

I spoke to the SEC today and here is the basics

Q. Is the SEC currently investigating wamx or are they done

A. we dont disclose that to the public

Q. when did the investigation start

A. not public info

Q. if you are currently investigating wamx, if the investigation continues past the 28 will there be a further halt on the wamx stock

A.there is a temperary, 10 business day halt on wamx,
thats it, and it would not be extended.

Q. Why was a halt not put on wamx earlier if you questioned earlier PR's

A. with out getting in the specifics of wamx, normaly if the SEC has doubts about PR information given by the company they will express the concerns to the company and give them time to respond before any actions are taken.

Q. what happens to the stock now

A. if no MM, does finacial DD, and does not make a request to publish the co. quotes then the stock will go to the pinks

Q. what time line would we be looking at for a MM request to publish wamx quotes, to get approved

A. normally a few weeks, but because of the temperary halt fast track status could be an option

Q. considring the business plan of wamx isnt it a conflict of interest, to expect a MM to request the stock stay on the OTC.BB, considering the potential effect a ATS will have on the MM balance sheet

A. the MM made money issuing shares before the halt and i would expect them not to be threatened by wamx ATS due to the fact that it would take many years to have enough customers on the ATS to actually compete for their dollars

Q.from my understanding of the info you released you seem to think the july 4 date meant the start of the ATS (or actual trading), and from what my understanding of the company's PRs, that date was more less the initial stages of the ATS and involved only the new web site and registration of new accounts, the actual ATS coming soon after.

A. HE quoted the word "deployment" (i assume he meant from a press release), and said "deployment is interperted as the the start date............'Invester Independance Day'"

Q. What are the allegations against wamx

A. wamx is halted by the sec because of possible conflicts in the information given to the public in PRs, and two officers were charged from a seperate fbi investigation which coincidently happened the same day


the below is my complete opinion and observations

my observation is that wamx is halted because they would like wamx to explain the PRs, and halted the stock so word would did not get out that the SEC was probing.

as i understood it the officers were charged
because of questionable book keeping. because of wire taps drawing attention to wamx shares being passed hand over hand, down a long line of brokers and such, and was the case of the wrong hand talking about wamx at the very wrong time. IMO wamx is completely NOT involved with mob but a dirty broker in the line mentioned wamx and thats the ONLY link

he shoot down any MM conspiracy with a chuckle and not a second thought, and thought it was highly unlikly that a MM would be short 2 million shares. ANY PROOF OUT THERE?

i think a MM would request wamx be back on the OTC.BB because according to mr knuts the DD involves looking at the companies worth and value (assets, projected cash flow,market cap,etc,etc) and deciding a price of the stock based the DD. The company will activly distribute this info
to all the market makers (probably as we speak), and with the press release soon coming we may have a good shot. obviously the company is still planning the launch of the ATS in the near future and they will have to tie up a few loose ends here ASAP. the MMs profited off wamx before and will likely continue

wamx needs a PR proving that the ATS can be operational by say....Sept 1 2000, and IMO the charges against the officers ARE hearsay at best.

WAMX can succeed!!











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