Coastal Capital Acquisition Corp (CCAJ)

[JB2U]

NICKEL STOCK HITS $90, SPURS FRENZY AND SUSPENSION

By RODDY BOYD
November 8, 2005 -- The Securities and Exchange Commission suspended a speculative frenzy in the shares of little-known Cameron International yesterday, after the stock's price went from 5 cents to more than $90 in one day.
How Cameron's stock price got above its longtime nickel price level seems puzzling enough. The Santa-Monica, Calif.-based company's SEC filings reveal it had barely $14,000 in revenue, two board members, and was seeking to sell even more stock to raise enough money to hire employees and launch a Web site.

According to its Yahoo! Finance profile, Cameron provided a variety of business and Internet-based marketing services. If Cameron raised $192,500, the filings said, it might generate revenues by the second half of next year.

The SEC's release added that despite a 1,000 percent gain on Oct. 28, there was "no material information about the company [being] made public."

After the close of trading that day, the company — which reported $4,000 in assets in June — had a market value of $133 million.

The SEC also said it had not received information requested for a spooky 30-1 reverse stock split, Cameron said on Halloween.

No one answered repeated calls to Cameron's headquarters.



What's more, running Cameron didn't appear to be too taxing on Stephen Samuels, Cameron's founder, who announced a week ago he was stepping down from the chief executive slot, according to SEC filings.

http://www.nypost.com/business/30905.htm