Good thing that report has nothing to do with Spooz...allie
Spooz Applauds SEC Indictments of Penny Stock Spammers
- 7/10/2007
CHICAGO--(BUSINESS WIRE)--Spooz, Inc. (OTC:SPZI) applauds the actions of the SEC, Texas Attorney General and the Harris County District Attorney’s office for indictments of fraudulent email spammers to whom Spooz had fallen prey in 2005. As part of the company’s financing in 2005, recently indicted Darrel Uselton acquired free trading shares of Spooz, Inc. and launched a spam email campaign to pump the stock. The spam email campaign was perpetrated without the knowledge or consent of Spooz, Inc.
“Spooz does not participate in nor condone spam email for any purpose,” stated Darryl Dennis, CMO of Spooz. “We are happy to see that the SEC is addressing this type of fraudulent activity perpetrated against small public companies and their investors. We are glad to know the Useltons won’t be harming other unsuspecting companies and their investors.”
As part of the investigation into the Uselton spam campaign in July 2006, the SEC subpoenaed documentation from affected companies, including Spooz. Spooz notified both the SEC and the Department of Justice when Spooz learned of the spam campaign and provided complete and thorough documentation of the incident to the SEC including communications from Spooz to Darryl Uselton demanding that he immediately cease and desist from any and all email investor campaigns if, in fact, he was involved in such activities.
“During our history we have been approached by dozens of Investor Relations firms inviting us to participate in email campaigns,” said Paul Strickland, Spooz, Inc.’s CEO. “Due to established policy, we have steadfastly resisted such tactics because we believe them to be unprofessional, damaging and manipulative. Spooz adopts policies that generally only exist in far larger public companies because that is where we are headed. Spooz will never compromise its principals and professionalism to artificially increase its share price.”
After four years in development, Spooz is preparing to launch its flag-ship financial software SpoozToolz to a growing list of waiting customers. The company has had no further contact with the SEC regarding the Uselton matter and does not anticipate any further effect on Spooz moving forward with its transition to sales of its products.
About Spooz, Inc.
Spooz, Inc., (OTC:SPZI) (www.Spooz.com) a publicly traded company based in Chicago, provides a suite of trading solutions designed to simplify financial analysis and order-entry for professional and active traders. Its flagship middleware product, SpoozToolz™ and its modules, add built-in trading capabilities to the popular Microsoft® Excel® software application, combining a customizable interface, streaming quotes, charts, technical analysis, back testing, and electronic trade execution into a simple add-in that becomes part of the Excel tool bar.
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