E-direct fax broadcaster
Check out the last paragraph here:
July 18, 2005 (FinancialWire) Do stock promotions naming DGW Financial (OTC: DGFJ), UA International (OTC: UAIG) or The Players Network (OTCBB: PNTV) fit a new U.S. Securities and Exchange Commission “risk based” profile, or are they similar to those that have resulted in some recent SEC trading halts?
The spam email hyping The Players Network said the publisher of “this newsletter” is “contracted to receive 600,000 free trading shares” from an unnamed third party.
The spam email touting DGW Financial, promising $0.50 per share in the next month, did not provide any compensation disclosures as required by the SEC.
The spam email promoting UA International said the publisher of “this newsletter” is “contracted to receive 600,000 free trading shares” from an unnamed third party.
The SEC has recently initiated a new and aggressive campaign to foil what it calls suspected pump and dump promoters by suspending trading in the equities of companies that either participate in or have been targeted by suspicious promotions.
Some observers believe such a “cooling off period” could “cool the ardor” for suspect promotions if investors have an opportunity to further evaluate junk faxes and spam emails they have received, and could prevent some more naïve investors from putting their money into stocks that are the subject of large-scale promotion campaigns based on questionable substance or fundamentals.
The companies are among nearly 150 recently identified with aggressive stock promotions. It is not known if the companies approved of the junk fax and spam emails. A few of the group have disavowed any connection to the promotions, but most have not commented, and for many, the campaigns continue unabated. One thing consistent with most: after the campaigns end, and often before, their stock prices plummet.
Now even a public company, Atlantis Business Development (OTCBB: ABDE), is claiming credit for many of the promotions through its partially-owned spin-off, E-Direct, as part of its revenue expectations. Both companies’ CEO, according to its website, is Christopher Dubeau, who it boasts has “built a fax broadcasting system which uses FOIP and acquired a database of over eight million” of what it calls “opt in” fax numbers from InfoUSA, Dunn (sic) & Bradstreet, “and many