From: Jody Janson
To whom it may concern,
I could not agree more to the proposed rules for the Pink Sheet Market, and to a large extent, would like to see some of the proposals spill over into the Bulletin Board market. I would like to see these rules implemented as soon as possible.
I am very familiar with these stock campaigns and find it incredulous that these promoters can tout these unknown, non-reporting securities while at the same time, sell all of their stock out the back door as unsophisticated investors take the bait and ultimately pay the price in terms of capital losses.
Rest assured, if there were one-year restrictions placed on the securities that these snake-oilmen receive, it would go a long, long way to flushing out the unscrupulous. In addition, by identifying who is paying for the promotions, how much and require that any material used in promotion be submitted to the Company in play, another large segment of these pumpers would find another line of work. In many instances, the Company being touted has no idea that these activities are going on as a result of the ability of any “third party” paying for the deceptive activity as a view to unload their stock position(s). Many times, the previous “shell” holders are the engineers of the promotion.
I whole heartily agree with the Pink Sheets that adequate information regarding the issuer must be publicly available at the time of the promotion. If a Company does not feel it is important or refuses, to make as much information available to the investment community regarding the capitalization of their company, the financial health, Managements Discussion & Analysis section, who they are paying to “promote” among other responsible disclosures, they should not has the availability to be traded, much less have a quote on the system.
The inmates are continuing to run the asylum. I would bet that more often than not, these promoters could not tell you anything about these Company’s business model, its product or services or financial condition. The promoters main concern is selling their stock to someone else and moving on to the next deal they can pollute. The best quote I have seen in some time comes from Mr. Coulson’s document: “Sunlight is the best disinfectant”. To expose these deceptive practices and their authors is the best thing that could happen to the micro-cap markets.
(How ironic, I received my first spam of the day as I have been writing. The odds of finding who this entity is, who hired them, how much, etc are zero.)
From: Benny Wooten
This weeks pick.
CTXE - CANTEX ENERGY CORP
Big News Just Out!
.Cantex Energy Corp. Corporate Update
SAN ANTONIO-May 9, 2006--Cantex Energy Corp. "the Company," Management would like to report that there are no material changes in the Company affairs and that the Big Canyon Prospect in West Texas is on schedule to commence the forty-two miles of seismic work later this month.
To hear more on the Company, shareholders are encouraged to visit the Company's web site where a recent interview with the Company president has been posted.
In addition, the Company wishes to confirm that it has executed the closing of a $250,000 private placement, as announced April 19, 2006, and is now funded to allow for the completion of the 1.6 million dollar geophysical work program. The Company still plans to accept an additional $250,000 in subscriptions that are expected to close within the next ten business days with use of proceeds for use as general working capital.
Trace Maurin, President of Cantex commented, "We encourage our valued shareholders to be patient as we approach the commencement date of this very unique opportunity in one of the last under-explored, world-class potential gas plays with no geopolitical risks."
Cantex Energy Corp. is an independent, managed risk, oil and gas exploration, development, and production company headquartered in San Antonio, Texas. The Company's additional focus is the optimal exploitation and development of approximately 1,200 acres known as the West Ant Hills Prospect located in Niobrara County Wyoming.
It's ready to explode!
I hope that there is enough groundswell to enact these proposed rules as it will protect all participants involved and injure only those that need to find another line of work to be deceptive in.
Thank you for your time.