Members of the Community I must bring to your attention the post by Chevy.
Posted by: chevy56
In reply to: None
Date:10/29/2007 9:43:01 PM
Post # of 28265
mule, I smell a RAT, FFGO is not using there TA, I ask my broker why a company would not use there TA. A TA takes care of Transactions and Records. No records NO naked Short payments...my broker could not figure out why.
FFGO is telling every one to call there broker to recieve there dividens and shares, this is a cover up for years of abuse on naked shorting, I suggest everyone protect your self, send in a report to the sec., let them investigate the matter.
KEN LAMB is trying the same thing, I do not buy Ken has bungled thing`s, this has been there piggy bank....he`s a LAWYER he know`s better.
I might go for NO TA with one company, but 2 trying to pull the same stunt.
These guys are trying to get around the inevitible...fool me once, fool me twice shame on me....I`m not going for it.
Just my guess, I`m going to find out, I`m turning them in to the Enforcement@sec.gov...my suggestion, everyone turn them in..
Better to protect yourself...
chevy56
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I was also given this information by another member and would like to summarize what he also had to say.
Why the 5000:1 reverse split ? why not 100:1 or 1000:1
. If this was to solve an excess of shares ( because of naked shorting ) why not simply have the name change, symbol change, and cusip # change....since the SEC's revised RegSho went into effect today ( 10/15/07 ) and brokers/MMs have 35 days only to clean up their act....which would have resulted in a massive short squeeze like FNIX started experiencing today ( FNIX traded 514,475,600 shares today and went up .0011 , a 220% increase in the PPS from it's closing of .0005 on Friday )
.......or was in fact a case of massive share dilution by the company ( MGMX ) itself ? ...and what is the share structure
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Please consider both of these members concerns. I believe that the SEC should be the ones to judge if the company/Board of Directors/ Ken Lamb has anything that is needed explained.
Both Chevy and I will be writing to the SEC requesting their help to decide if there is a problem. I would have preferred if Ken Lamb had contacted us and explained why at this time when the Brokers/MMs need to cover would he dismiss the TA who is the only person keeping track of the shares. How will Ken lamb know how to distribute the monies owed to each investor?
If anyone wishes to join Chevy and I as a group with possibly more influence please contact me. If you would prefer to contact the SEC on your own, please do it ASAP as time is vital at this point. If you as an investor wish to allow Ken lamb to work this out for you then please do as you see fit.
I will wait for 24 hours for anyone who wishes to become part of a group effort, otherwise Chevy and I will proceed on our own to protect our own investments.
Mary.
AI
