Penny Stock Fraud Info
Thursday, January 06, 2005
GFYO—GFY Food Inc. pumped by Seven Investment—FRAUD ALERT
I received the unsolicited “newsletter” from Seven Investment Group · 370 Amapola Avenue, Ste. 200 · Torrance, CA 90501 - return address
I didn’t see the disclaimer stating that they are paid for the promo, but they disclose:
“We may own, buy and sell any securities mentioned at any time.”
And:
“Please have in mind! that the interpretation of the writer of this newsletter about the news published by the company does not represent the company official statement and in fact may differ from the real meaning of what the news release meant to say. Please read the news release by yourself and judge by yourself about the details in it.
I don’t understand why you’re supposed to do everything “by yourself.”
The SEC filings indicate that President Edward Schwab just awarded himself a 24,000,000 share bonus according to the 1/5/05 filing - guess that’s what he’s pumping now.
There’s also a financial statement on file, with a $5+ million OPERATING LOSS for the period ended 9/30/04 - paid for with, you guessed it, stock. This is a very long statement, I don’t have the time to analyze it. Here’s an intersting bit of info: “The total value of the stock issued to Mr. Schwalb has been booked at $6,170,000.”
The day traders can have fun with this, but based on the “news letter”, the numerous press releases and the PK and OTCBB info, I give GFYO a serious FRAUD ALERT!
Over 131 million shares traded today according to OTCBB.
Pink Sheets info:
Posted by Christine on 01/06 at 07:34 PM in SELL - scammers and spammers, GFYO, Promoters, Seven Investment
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