Hear AtLast Holdings Inc (HRAL)

[petermic]

'PINK' FIRMS BUY AIR TIME
STOCKS RISE AFTER CNBC ADS
By RODDY BOYD
November 26, 2007 -- Two struggling so-called pink-sheet companies have recently begun running advertisements on CNBC as a high-profile way of moving their stocks higher.

Pink-sheet companies ConnectAJet and Hear At Last have seen their stock prices jump after their commercials ran, despite having threadbare operating histories. Pink-sheet companies' shares trade over the counter and aren't subject to the strict rules found on traditional stock exchanges.

The 30-second ads state that the companies are publicly traded and include references to their stock symbols.

Traditionally, pink-sheet companies have been hyped using illegal boiler room brokerages that almost never are able to stay in business long enough to support their share prices.

The Securities and Exchange Commission stopped trading on ConnectAJet on Oct. 1 over concerns about "manipulative forces and deceptive actions." The SEC also warned of "inaccurate assertions" in press releases touting yet-to-materialize partnerships and affiliations.

At one point in August, Austin, Texas-based ConnectAJet's stock was $6; after reopening last month, the stock has tumbled and closed yesterday at 35 cents.

An ad purchase on CNBC can cost a pink-sheet company as little as $20,000 but offers an audience of thousands of well-heeled investors and traders.

A CNBC spokesman told The Post, "In addition to standard industry practices, we have a very strict policy and guidelines [with respect to advertisers] and do not comment on specifics."

Meanwhile, HearAtLast, a Toronto-based operator of hearing clinics primarily in Canada, ran CNBC ads pitching the company to investors in New York and Los Angeles, despite having only one US location and just over $4,666 in cash as of June 30, according to company filings. But in late August, according to an SEC filing, the company raised more than $439,000 when it sold 18 million shares at 2 cents a share.

http://www.nypost.com/seven/11262007/business/pink_firms_buy_air_time_873065.htm