Forum Archive Index - December 1999

[Derek <dariusz@ihug.co.nz>]

Please place the following WARNING in your "chat room" and ask others in
NZ and Australia to spread the
word FAST !!!!

POSSIBLE SCAM WARNING

American "brokers" operating from Philippines approach NZers and
Australians with a strong and immediate
BUY recommendation for
ICNWE - Nasdaq OTC BB (Over The Counter Bulletin Board).

The fifth letter "E" means, that the company may be about to be
delisted.
It had 30 days from the 8th of November to comply with 10SB listing
requirements of the Securities and Exchanges Commission.

I was approached by two brokers today, both Americans operating from
Philippines, with a BUY recommendation on this stock. Both claimed, that

"E" letter has no significance, which is an obvious lie and indicates a
calculated dishonesty.

It is most likely a scam. That company is probably (or possibly) going
to end up on "pink sheets", which is were non-reporting companies end up

and usually don't come back to the real stocks world, and  investors
lose all.
They are now targeting unaware foreign investors to unload the stock
which may expire worthless shortly.

This stock should be avoided until it loses it's "E" stigma.
Warn your friends and don't become a victim of this "boiler rooms"
yourself.


--------------------------------------------------------------------------
To remove yourself from this list, email sharechat-request@sharechat.co.nz
with "unsubscribe" in the body of the message, or use the unsubscription
form at http://www.sharechat.co.nz/forum.html.