xanadu Sunday, 03/25/07 11:59:14 PM Re: None Post # of 39 Received another e-mail spam and forwarded it to the company. Also received at thank you from a Russ, firstname.lastname@example.org, for sending the 1st two. Assuming it was Russ McDermott. The current President of Peopleline Telecom, Inc. Just saw this about Canadaian pinkies. March 25 SEC Warns Many Pink Sheets Are Scams... Much of this centers on penny stocks, often worthless financial paper traded on the U.S. over-the-counter market. These stocks are sold by salesmen in high-pressure boiler-room telephone or Internet solicitations. When the U.S. Securities and Exchange Commission announced "Operation Spamalot" this month, stopping trading of 35 companies at the center of spam e-mail promotions, one-third of them had connections to British Columbia, the province where Vancouver is located. Authorities here estimate that 500 of approximately 4,000 companies traded on the U.S. over-the-counter bulletin board and another penny stock listing service called the "Pink Sheets" can be traced back to Vancouver and British Columbia. The companies variously claim to have huge car inventories, hot mining prospects, technological breakthroughs, medical miracles, valuable real estate and other exciting assets, which often are inflated in value or nonexistent. Their promoters operate here in part to take advantage of the border, said Martin Eady, director of corporate finance for the British Columbia Securities Commission. Canadian regulators rarely get complaints from victims, because most of them are in the United States. And U.S. regulators are wary of trying to crack down on companies based in Canada. "It becomes inherently more difficult to investigate and to prosecute when it is cross-border," Eady said. "It lengthens everything by a factor of at least 100 percent."