Post by fastwalker on Sept 1, 2004 12:49:35 GMT -5
FYI...Be WARY OF STUFF THAT SOUNDS TO GOOD TO BE TRUE.....'Fax' Story Just Won't Go Away
Aug 31, 2004 (financialwire.net via COMTEX) -- (FinancialWire) The FinancialWire story about Juina Mining (GEMM), CNMK Diamonds (CMKX) and U.S. Canadian Minerals (UCAD), and the resulting irate calls to a Verizon (VZ) 800 small business customer, just doesn't seem to want to die.
First unless the mysterious payer of the $50,000 to the equally mysterious "Prospector Alert" to tout Juina Mining (GEMM) meant simply to create volume so he or she could dump the stock at any price, the uninvited and similarly mysterious fax broadcaster seems to be doing the company and its shareholders more harm than good. On Friday, the first day that FinancialWire became aware of the fax, through Monday, the stock has dropped like a rock, no the shiny kind, from about $0.032 to $0.0179, almost in half.
Friday's story that said the faxed "Investors Alert!! GOLD, GOLD, GOLD" touts for Juina Mining resulted in irate phone calls to Jody's Travel and set off a firestorm among the online community as investors began to contact FinancialWire enmasse, some including threats.
Interestingly, however, it said, the messages didn't come from Juina Mining investors but from CNKM Diamonds investors, which was mentioned only incidentally.
The story noted that "the fax says that controlling interest in Juina has been acquired by US Canadian Minerals (UCAD), which it said 'has been on a tear since June, going from $1.35 to over $5.' Earlier in August, CMKM Diamonds, which is a favorite of Stock Patrol (www.stockpatrol.com) for its more than 500 billion shares, a world record number of shares outstanding, said it intends to distribute 95,502,027 of Juina Mining Corp. to its shareholders on October 1 as a dividend.
The story had noted that the 800 number given on the fax to "be removed immediately from the database" was missing a digit, leaving Jody Donnelly at Jodys Travel in Boxford, Massachusetts, to field hundreds of calls from people wanting to be off the fax list, which she pointed out is "at my expense," not to mention the time and aggravation involved.
The fax broadcast said that the company, which trades at $0.028, has a one month target price of $0.50. The company traded at $0.20 in mid-2002 and spiked at $0.16 in late March, 2004.
It didn't say who the "analyst" is or the location of the report, who paid the $50,000, or the qualifications of the "analyst."
It concluded, "Donnelly just wants her phone number off the faxes and out of the mix."
Her frustration has continued to grow, as the fax broadcast keeps on rolling along. She said the fax has continued unabated every day since the FinancialWire story Friday, and that so far she has gotten no help from her complaints to the Federal Communications Commission, the Better Business Bureau, the Department of Telecommunications and Energy, or the Attorneys General of Colorado or Massachusetts.
Another reader identifying himself as Trey Beathard with an email address at UReach.com, told FinancialWire that the story "referenced a woman named Jody Donnelly of 'Jody's Travel'. The problem is that she does not seem to exist. I, and several CMKX shareholders, need you to either verify the truthfulness of this PR (sic), or issue a retraction immediately. Let's clear up this mystery please, because we won't let this PR (sic) stand without further verification."
When Beathard was asked wht he meant by not letting this "PR" stand, or if his purported company was in anyway connected to the fax distribution, he did not respond.
Beathard has since been in touch with FinancialWire to deny that he ever received a request for comment or that his company is anyway involved in the fax.
Said Beathard: "I buy and sell mineral rights in Houston, Texas. I work by myself in a home
office. I have never engaged in stock touting, and never will. I have never spammed email, and never will."
Among the newest irate recipients of the fax was Pat Bernhardt of the Divine Peace Lutheran Church in Milwaukee, who asked FinancialWire: "We received a fax regarding Prospector Alert, on stock of GEMM.PK with a bogus number to be removed from the fax list. Do we call the FCC? Who is sending this out?"
According to Jody Donnelly, the answers are good luck, and who knows?
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