TLTK the drama continues...
(PR NEWSWIRE) Teletek, Inc. Warns of Possible Abuses on Message Boards
Teletek, Inc. Warns of Possible Abuses on Message Boards
LAS VEGAS, Oct. 3 /PRNewswire-FirstCall/ -- Increased trading volume and
price movement has recently come to the attention of Teletek, Inc.
(Pink Sheets: TLTK) (hereinafter "the Company") which prompted a press release
yesterday and an additional release today of the following corporate
statement:
It is currently believed, though not known, that recent trading activity
in the Company's stock is the result of extreme speculation by persons who
hope to achieve financial gain without understanding or discussing certain
financial fundamentals regarding stock valuation or complex legal issues
involved in mergers or acquisitions. The Company currently has no assets, no
operations, and no revenue. While the Company is pursuing business
opportunities, there can be no guarantee that such opportunities will be
found, or if found, obtainable by the Company. Successful business
development often requires financial, managerial, and market resources far
beyond what the Company currently has available. The Company has not
authorized anyone to comment on any attempts to develop relationships with
other businesses. The Company has not entered into an agreement to acquire or
merge with another business enterprise. It is currently not known when, if
ever, the Company will be able to benefit from current efforts to engage in
one or more business endeavors. Persons on message boards implying otherwise
may be doing so for their own financial gain at the expense of others.
The Company recently learned that some posts had the Company doing
business with Redwood Capital (not correct), doing business in China (not
correct) and later doing business in Turkey (also not correct). "Cutting"
information from one source and "pasting" it in a message board about the
Company does not constitute a business relationship, let alone a legally
defined merger or acquisition transaction. To imply otherwise is misleading
and may be designed to create a frenzy for message board participants and day
traders who then become blinded to common sense. Any material agreements to
obtain funding or acquire assets or operations will, in the "normal course of
business," be accompanied by a press release regarding such. To buy or sell
stock on any other basis is to engage in a very high degree of speculation and
conjecture. Consequently, the Company refers persons interested in the
Company's trading to carefully consider educational information provided by
the Securities and Exchange Commission, which has commented on this subject by
stating:
"The Internet serves as an excellent tool for investors, allowing them to
easily and inexpensively research investment opportunities. But the Internet
is also an excellent tool for fraudsters. That's why you should always think
twice before you invest your money in any opportunity you learn about through
the Internet ...
"Online bulletin boards -- whether newsgroups, usenet, or web-based
bulletin boards -- have become an increasingly popular forum for investors to
share information. Bulletin boards typically feature 'threads' made up of
numerous messages on various investment opportunities.
"While some messages may be true, many turn out to be bogus -- or even
scams. Fraudsters often pump up a company or pretend to reveal 'inside'
information about upcoming announcements, new products, or lucrative
contracts.
"Also, you never know for certain who you're dealing with -- or whether
they're credible -- because many bulletin boards allow users to hide their
identity behind multiple aliases."
The Company joins with the SEC in encouraging common sense considerations
when investing in the public markets. Any information disseminated that is
not authorized by an issuer may be entirely false, or so lacking in
completeness that omissions make it materially misleading, and utilized by the
disseminator to advance undisclosed financial or other agendas. Incorrect
information, whether "positive" or "negative" about a company, is still
incorrect information and can hurt naive or unsophisticated investors. The
Company has no desire, nor agenda, to have market interest built upon rumor
mills and message boards where the participants hide behind an electronic wall
of anonymity. It is, however, a matter which public companies cannot
control. Public companies are not required to, and from a practical standpoint
simply cannot, monitor countless message boards and chat rooms for incorrect,
incomplete, or misleading information. The Company, like any company, cannot,
and will not, police the world wide web.
The Company reiterates today that the NASD has not yet assigned a new
trading symbol for the Company, which symbol will implement a name change and
reverse split of the Company's common stock.
Contact: Tim Bradford of Mercantile Ascendency 214-461-3500
SOURCE Teletek, Inc.
Contact Information:
Tim Bradford of Mercantile Ascendency, +1-214-461-3500
*** end of story ***
AI
