Replies to post #3561 on The Question and Answer Board (IHUB)

[MMMARY]

Matt: that's a cop out

We can't just have a board that says "stock frauds here." Who would go to that board? You need to reach the people who are posting on the actual company boards. You need to reach the current and future investors. How do they know their stock is a scam? You need to go to those boards and state, for instance, the ceo was indicted for 19 counts of securities fraud, the stock promoter has been sued by the SEC twice for stock manipulation, the pump and dumper recommended tmot as a turnaround company even after they went bankrupt and were almost 100% liquidated, the company has never kept any of their promises (showing proof), their press release was a total lie (showing proof again), toxic convertible financing can kill a company... As long as we back up our posts with facts, links, news items, SEC docs, I think we should be allowed to post our thoughts on the message boards. If they can say the stock is great, we should be able to state that it stinks, if it does.

Having a "stock fraud" board is a way to appease the stock promoters and pump and dumpers. They would love it if we all holed up on a little board far away from the people they are trying to scam. That doesn't do anything. That's like writing on a piece of paper that someone is a rapist then sealing it in an envelope, instead of telling the woman who is about to be raped so the crime may not happen. I don't think we would be exercising our civil duty and responsibility if we didn't let people know. Just my personal point of view.

Just say NO to stock fraud

[Pawka baby]

How come certain posters can continuously make posts like

LYINGMary, the Red Witch of the Message Boards

while entire threads generically discussing paid chatroom gurus get deleted as attacks on someone?

[Bird of Prey]

Matt,

Thanks for the plug! 8>)

Couple of things about the ongoing discussion concerning filing a complaint with the SEC.
Part of the reason ADAPT was created is because we have filed complaints with the SEC...and won. We have learned that the SEC wants more than just a disgruntled stockholders opinion that company XYZ is a scam, fraud, etc. Seems they respond very well to *DOCUMENTATION*! In every successful instance we have provided BOXES of documents that laid out step by step how things went. Actual tracing of several alleged *different* aliases back to the same IP address for instance.
It takes much more than someone posting information from an old, outdated and possibly erroneous report to motivate the SEC. Provide them with a list of aliases and the documented connection between them (ie all from same brokerage, same person etc) and show where they provided false information and/or misleading references (posts to each alias to create credibilty) by those same posters and the SEC gets very active in a hurry!
BTW, P&D is not the most prevelent form of Stock Manipulation. Our research indicates that Short and Distort (S&D) occurs much more often. These are usually cases where former employees, contractors, brokers etc. have taken short positions in a company and begin bashing the company to drive down the price so that they may profit. IMHO, far more damage is done to shareholders and companies alike by a single S&D than by all P&D's put together. Yet posters like Island Lfe, Coolbreeze and MMMARY (stockaholic) seem to focus only on the P&D angle.
Interestingly enough, the ADAPT team feels that our best potential clients (yeah we would like to get paid!) are Companies and CEO's suffering from relentless S&D attacks, rather than individuals like the above who often have no real evidence, only supposition and conjecture.
I am in no way claiming that the above mentioned posters have or do not have an actionable case. IF they do have real proof, it is their duty to bring it to the SEC...NOW. However, if they do not it is unlikely that they will cease to harrass those they believe to be involved in a scam. It takes little real effort to scream "fraud" on a message board. In our investigations we have found nothing to support the acusations of most of the complaints made against P&D's. It appears the SEC has made P&D it's focus and therefore there are few that truly get past their review.
I wonder though, how some of the "no more fraud" crowd would look if their trading activities suddenly came under scrutiny.
In conclusion, (I apologize for the length) we at ADAPT are prepared to review ANY case of Misrepresentation. Whether from individuals about a company or a company about an individual or group of individuals.

...and to all a good night!



David Weed
aka the Bird of Prey
www.warp-drive.com