What’s about this blog “All About PennyS” ?? – In the middle age of your life you really like to think what has been behind you (50% of your life) and hopefully (or better not?) will ly front you (another 50%?). A lot of questions about sense, non sense etc. …

Maybe this blog is an absolute crazy idea. Don’t know if it makes sense for you. Better give it sense for you and share it with others …

With my personal life carrer to nowadays I moved a lot on th edge of society and life (really thank you (whom?)) for all these angels around me having done a good job protecting me.

Now nearby 6 1/2 years behind (Oh, time is running so quickly), we crossed the time border to jump into the 21st century and I feel that we (all around the globe) mostly are in a new mood to proceed in a different way in the past.

Therefore what’s the strategy for ?? – The item “Penny Stocks” more should give me (and maybe you dear reader) a little push to think about if there exist some different ways of designing life individually or in community…

So, enjoy it or let it be ! From my side I likely expect or less wish to enter into a productive dialogue.

See you – JayAr from Europe/Germany/Hamburg.

// P.S.: Clearly to say it, this is a non commercial blog, even the headline is focussing onto the central thematic of profit rates, growth, shares etc. … So, don’t try to sell something to me or other persons you might find on this platform. Every attempt will be punished heavily from me by blocking for the rest of your cyber life time. //

www.pennystocktrader.net

HSM message board – Popular site for Penny Stocks, stock picks and tips for investing online …

http://www.hotstockmarket.com/

www.pennystocks.net

What size is “small”? There are many definitions. Some people define a small public company as one with a market cap under $1 billion. Others define small cap as under $2 billion. And there are yet other definitions. Over the last two decades the word “small” has come to mean larger and larger companies! To confuse matters, NASDAQ’s small cap market system continues to list truly small public companies, many of which would be classified as nano-cap by the definitions, below. Here are some current definitions from Investopedia and Investor Words.

Market Cap	Investopedia	Investor Words
Mega-Cap	over $200 billion	over $250 billion
Large-Cap	$10 billion – $200 billion.	$5 billion – $250 billion
Mid-Cap	$2 billion – $10 billion	$1 billion – $5 billion
Small-Cap	$300 million – $2 billion	$250 million – $1 billion
Micro-Cap	$50 million – $300 million	under 250 million
Nano-Cap	under $50 million	–

Our practical definition for this page is as follows: Once a company trades for $10 per share or more and trades on NASDAQ’s 2 higher tiers, AMEX or NYSE we will not call it a small company.

Within our limited definition of “small companies” there still remain very large differences relevant to investing.

For example, if a company is on the OTCBB it is required to be a reporting company — that is, is submitting to the SEC its audited quarterly and yearly data plus all information important for investors . Therefore you can access its stock performance and financial data at servers such as Yahoo, Hoovers, Market Guide and EDGAR — right along side General Motors and Microsoft! SEC-reporting companies are required to comply with strict regulations relating to disclosure and accuracy. This includes the reporting regulations in Sarbanes-Oxley. An experienced investor has a chance to access the data necessary to decide if this company is a good investment. He also has reasonable expectation that the data is accurate.

If a company is on the OTCQX it, too, is required to be a reporting company; however it reports to PinkSheets LLC rather than the SEC. The Pink Sheets runs this premiium quotaion, trading, and disclosure service and makes the information available to the public. OTCQX companies do not need to comply with all the SEC disclosure regulations and can avoid the cost of complying with Sarbanes-Oxley, a huge expense for a small company. However, the OTCQX company must follow generally accepted auditing principles (GAAP) and have regular audits. Moreover, it must have an independent Designated Advisor for Disclosure (DAD), a professional “gatekeeper” for secondary market disclosure. The OTCQX is patterned after the London Stock Exchange’s successful AIM system for small companies.

Which disclosure system will investors prefer? Time will tell.

If a company is on the Pink Sheets but not on the OTCQX, and is not reporting, it is hard to get reliable information. Pink Sheets LLC does have 15-minute delayed stock data at PinkSheets.com and they offer an electronic real-time quote system designed for OTC agency traders, OTC Issuers, institutional investors, and other investment professionals. The service is offered on a password-protected basis through a standard web browser at OTCquote.com .

EVALUATING PINK SHEET COMPANIES

Companies listed on the Pink Sheets’ OTCQX tiers have ongoing operations and are the cream of the crop (see criteria, above). There are additional Pink Sheets categories to help you evaluate a company. From top to bottom they are: Emerging Growth, Adequate Information, Limited Information (yield sign), No Information (stop sign), Public Concern (skull & crossbones). These are summarized more in depth on the MicrocapLeaders.com History Page.

Following are some hints to help you interpret the information at PinkSheets.com.

• When you enter a ticker symbol into the form on the home page you will find the following information available: Quote, News, Charts, Company Info., Financial Reports and SEC Filings. Under the Quote tab you will be able to see whether the company is quoted as “Other OTC”, dually quoted on the OTCBB and Pink Sheets, or quoted just on the Pink Sheets. If a company is quoted as “Other OTC” it does not have a Pink Sheets market maker. If a company is dually quoted that means they are an OTCBB company, complying with Sarbanes-Oxley and filing with the SEC. You will be able to research it via EDGAR and, probably, major financial Websites. If a company is quoted on the Pink Sheets alone then it has a Pink Sheets market maker. Your best bet for researching may be the Pink Sheets Website.
• Under “Primary Venue: Pink Sheets” is there a note saying the stock is quoted Unsolicited? If so, that means brokers cannot suggest the stock to a client but sell it only if the client, independently, asks for it. This does not, necessarily, mean the company is bad. The market maker may have filed the required papers with the SEC to affirm that he has adequate financial knowledge of the company and asks to change sales to a solicited basis. He may simply be awaiting the SEC approval, which can take a long time. In the meanwhile, the Pink Sheets will continue to show the stock price as long as financial information is available.
• To look for financial infomation, click on the “SEC Filings” tab. Why would a Pink Sheets company be filing with the SEC and complying with Sarbanes-Oxley? If the company has over 300 shareholders of record (500 if only $10 mil. in assets) it MUST file with the SEC by law. Chances are the company is in the process of either finding an OTCBB market maker so as to get listed there or is reducing the number of shareholders of record so as to avoid Sarbanes-Oxley.
• Probably you will see no SEC filings or only old ones; so try the “Financial Reports” tab. An increasing number of companies are reporting via the Pink Sheets service. To keep their quotes posted at PinkSheets.com, Other OTC companies as well as Unsolicited companies MUST make their financial information available. In addition to (or instead of) the Annual and Quarterly reports you are familiar with, you may see an “Issuer Information Statement” and/or “15c2-11 Information Statement” (both the same thing). These contain basic information about the stock (for the benefit of brokers) but, optionally, may contain additional financial figures and are worth a look. You will also want to look for press releases under the News tab and yet more information under the Company Info. tab. The Company Info. usually has a link to the company Website which may provide a wealth of information.
• Financials posted at the company’s Website and under the Pink Sheets Financial Reports may or may not be audited; so remember to check for this. Companies in the OTCQX and on the Pink Sheets’ Emerging Companies List MUST be audited.

RESEARCH SITES FOR SMALLER COMPANIES

• At www.otcstockinfo.com the Pink Sheets offers a financial information repository for small business inssuers that are exempt from ongoing reporting requirements with the SEC. We are guessing that eventually this page may be integrated with the OTCQX.
• Knobias (pronounced “no-bias”) is a research site where you can access some tools free and subscribe to a large database of outside market companies including such markets as OTCBB, the Pink Sheets, and the Nasdaq SmallCap Market. Subscribe to their daily “SmallCap ClipReport” for free.
• OTCBB Trader is a relative newcomer offering a free trial of their up-to-the-minute data. OTCBB Trader has created and maintains the “OTCBB-100″ Index. They also offer sector indices for OTCBB companies! The sectors are not based on the extremely broad SIC codes but have been created by OTCBB Trader to track the major industries represented in the OTC group.
• Small Cap Center run by StockGroup.com, which has aquired StockHouse.com.

In recent years there have been other efforts by web publishers to fill the gap left by not having a pink sheet trading site. However, compared to the audited figures submitted to the SEC by a reporting company (and hence passed on to the public) the independently published information can be scanty at best and unreliable, biased or untrue at worst. Although financial web publishing is a good idea, right now it is strictly “buyer beware” when it comes to the results.

If someone hypes stock in a thinly-traded, non-reporting, pink sheet company it is difficult to determine truth from fiction and to study the company along with its peers. Even if you decide the company itself is sound, what happens if you want to sell the stock? Other investors may hesitate to buy stock in a company they cannot easily research, track and trade.

Are there micro companies out there which are well run, pursue sound fiscal policies and which have outstanding, innovative, competetive products? Of course there are. However, investing is still a gamble. The company may grow into the next Microsoft. Or it may be bought by Microsoft to the advantage of the shareholders. Or, even more likely is a scenario similar to the (very short) animated feature “Bambi Meets Godzilla”. If the product is really good, it is likely that a large company will decide to enter the market and with their superior capital simply put the small company out of business.

And then there are unscrupulous traders who make money illegally at the expense of the public company and its legitimate shareholders by using naked shorting. For more details, visit the National Assn. Against Naked Short Selling (NAANSS), a group formed to help end this practice. For additional information, visit Our-Street.com, an anti-naked-short organization based in the UK,

We have attempted to categorize the links, below, as: Stockbrokers, Newsletters & Research Sites, and Investor Relations Firms. IR firms are obviously paid by their clients to present information on the Internet. However, among broker reports, newsletter articles and research sites, it is not always easy to determine if the site owner has been paid by the subject companies. owns stock in the subject companies, or, on the other hand is totally objective. . Consider that a newsletter-writing guru from time to time owns stock in some of the hot companies he writes about (unless he is a total idiot!); therefore his perspective on those companies may become skewed. Reading the site’s disclaimer is a good idea; however, lawyers tend to require that every client post a strong disclaimer. Therefore, this alone does not tell you how reliable the information might be.

How do you tell good information from doubtful information or an interesting gamble from downright fraud? Visit the following:

• Stock Patrol. Reports current frauds and keeps abreast of links to similar pages deALIGN with fraud, such as those at the SEC.
• Securities Sleuth Similar to the Patrol, above.
• Stock Lemon Similar to the Patrol, above.
• QuatLoos Covers a wide variety of financial schemes and frauds.
• The National Fraud Information Center These people have an entire section devoted to the Internet.
• What Every Investor Should Know and other articles by the SEC are a “must read”.
• North American Securities Administrators Assn., Inc. Founded in 1919, this is an organization dedicated to investor protection. They have good articles for investors on asking the right questions and avoiding fraud.

MARKET INDICES FOR SMALLER COMPANIES

A list of market indices specifically for Small Cap, Micro Cap and yet smaller companies (“Nano Cap”?) is maintained at Microcap Leaders.

MARKET MAKERS AND BROKERS . . .

. . . FOR PENNY STOCK, PINK SHEET AND SMALLER COMPANIES

These are stockbrokers who have indicated that they deal in smaller or unlisted companies, or who other people have said deal in penny stocks.

• Accutrade
• Ameritrade
• E-Trade
• Charles Schwab
• Investrade
• myTrack
• NobleTrading including flat pricing for OTCBB and PinkSheets trading.
• Pennaluna
• Scottrade
• tradesecurities.com
• Trading Direct
• In addition, be sure to look at the The Pink Sheets List of Brokers.

PUBLICATIONS AND RESEARCH ON SMALL COMPANIES

Some of these Websites say they try to be unbiased and objective. Some don’t say. Yet others are up-front about the fact that they are IR firms and have been paid to do a profile on the company. We have not attempted to separate electronic media from print media. In addition, there are a burgeoning number of financial industry conferences which archive presentations as Webcasts. Many are sponsored by brokerages while others are run by magazines or commercial organizations. A partial list is found on the “Talking To Wall Street…” page at IR101.net.

Official Sites:

The OTC Bulletin Board run by Nasdaq — This is the official site, with a wealth of information.

The Pink Sheets LLC Website — This is the official site, with a growing bank of information.

Full-Color Print Magazines:

Equities Magazine — Equities has bridged the gap between emerging public companies and the investment community for over half a century. In the 1980′s the company was one of the first to sponsor corporate conferences, a role which has grown ever since.

Red Herring — started in the ’90s as a review of companies going public, this magazine developed a wider scope including cutting edge tech developments, venture capital and smaller public companies.

BDC Journal — launched in 2004, this magazine features articles of interest not only to people investing in business development corporations but to everybody following the emerging-company market.

Newsletters, IR Firms’ Profiles, Reports and Research Sites

• Microcap Leaders A sister site to Wall-Street.com Research site for microcap and nanocap companies.
• Microcap Gems — Free weekly email investment newsletter focusing on growth opportunities in the micro-cap markets.
• Peter Leeds — A leading penny stock professionial and his Penny Stock Insiders
• Subscribe to the Knobias SmallCap Sleepers for free.
• Investrend and Financial Wire — This company covers more than just microcaps; however it is one of the most respected company-paid-for analysis firms. Therefore it offers a lot of information on smaller companies not available elsewhere.
• Dutton Associaties – A leading provider of company-paid-for analyst reports on medium-sized and also smaller companies.
• Taglich Brothers – A leading provider of company-paid-for analyst reports on medium-sized and also smaller companies.
• The Bowser Report – By Max and Cindy Bowser. A long-running and well-regarded newsletter.
• Standard & Poor’s Company Sponsored Descriptions.
• OTCFN – Well-known writer Geoffrey Eiten’s IR firm. Provides company-paid-for profiles of nano-cap companies.
• Small Cap Review — Free in-depth profiles of small-cap and micro-cap companies. Free Newsletter, no membership required. Featured by the $57 billion Kemper Funds as a noteworthy site to visit.”When you need Real Research”
• Global Penny Stocks. Stock advisory newsletter for penny stocks (those under $5) available exclusively online.
• Pristine’s Free Sample — look for review of small caps.
• Canadian Micro Cap Review. In print and online. By Keystone Financial.
• Microcap.com
• Small Cap Market Watch
• OTCBB section of DailyStocks
• PurePennies.com — Some info. free, some with paid subscription.
• StockResearchCenter.com — Stock research site created by the publishers of the ECReports.
• EquitiLink
• OTC Journal — covers small and micro-cap stocks.
• The MicroCap Journal — emerging company news, reports and research.
• Penny Guide
• Allstocks Penny Section.
• Penny Stock Talk — This site claims to do unbiased research and also has many discussion groups (whose participants, of course, may or may not be unbiased).
• OTC Live
• Small Cap Network Free newsletter.
• Penny Stocks Network — Research and analysis of penny stocks and their markets.
• OTC Alerts
• All Penny Stocks. Delivering Canadian Stocks and Penny Stocks quotes, news and charts for every stock in the TSE, ME and CDNX as well as links to other world stock markets and stock picks.
• Wall Street Corner — Research and information on small cap stocks.
• The Red Chip Review — This publication follows several hundred smaller companies not generally covered and profiles several in each issue. Free examples are on-line.
• Market Digest Online
• The Online Investor
• Hedge-Hog Small Cap & Penny Stocks
• PennyInvestor.com — This site follows OTC-BB stocks trading under .50 per share.
• Penny Review — In-depth profiles of otc-bb companies that are likely to give above average returns.
• Roller Coaster Stocks
• AffordableStocks.com
• Traders Nation. Web TV and more.
• Emerging Company. A TV Program online. Interviews with officers of emerging companies.
• Top 10 Microcaps offering several Top 10 lists: medical, energy, technology, gaming and more. Some profiles paid and some unpaid.
• Small Cap Reporter — Newsletter associated with the “Top 10…” companies, above.
• DonPenny.com — Specializes in the field of nanotechnology.
• Stock Information Systems
• OTCInfo.net
• OTC Eagle.
• The OTCBB List.
• Next Wave at Core Communications Group
• Billington’s
• Inside Wallstreet
• R. J. Falkner & Company
• Market Pulse
• HotOtc.com
  

  ---

• Visit QualityStocks.netwhich is focused on the Small-Cap and Micro-Cap markets separated by the exchanges in which the stock trades, which include: Pink Sheets, OTCBB, and AMEX. They collate over 150 investment newsletters into one Stock Market Investment Newsletter Report, featuring a summary format in which you can view the latest stock picks every day. In addition, their monthly ” Stock Market Investment Newsletter Report” lists the best performing stock picks of the month and the newsletters that featured them.
  

  ---

• Visit Tip Reporter for reviews of several penny stock newsletters, links to the newsletters and summaries of their stock picks. They divide the stock pickers traced into two basic categories: Independent Newsletters and Corporate Profilers. Both usually reserve the right to buy or sell the stocks they feature.The Corporate Profilers are reimbursed in the form of stock and/or cash for all of the companies they profile, while Independent Newsletters also make uncompensated picks for which they receive no compensation.
  The Independent Newsletters are: All Penny Stocks, Don Penny, Global Media & Corp. Rel., Insider Review, Market DD, MomentumTraders, Penny Buster, Penny Heaven, Penny Investing, Pure Pennies, ShellStockReview.Com, Small Cap Review, SmallCap MarketWatch, Stock Profit Picks, Stockprowler, StockUpticks.com, Tech-Focus.com, The Stock Guru.com, Value-Stock.com, Wallstreet Universe
  The Corporate Profilers are: Hot Penny Stocks, Investor Ideas, Investor-Trading.com, Investors Stock Daily, Microcap Alliance, OTC Journal, OTC Live, Penny Picks, Penny Wizard, SmallCap Network, Stock Profilers, Street Insider, The OTCBB List, TheStockbroker.com, WinningStock.com

(Source: http://www.wall-street.com/small.html)

http://www.websitetoolbox.com/tool/mb/millenniumtraders?forum=44005

Warum sich im Juli 34% der Anleger durch eigene Dummheit ruinieren …

www.investor-verlag.de

http://www.daytradepennystocks.com/?hop=0

www.pennystocks.com/

www.pennystocksshares.co.uk

www.law.uc.edu/CCL/34ActRls/rule3a51-1.html

http://www.allstocks.com/pennystocks/

penny stocks list features over 350 fresh pennystocks a great investment with pink sheet penny stocks on the new york stock exchange right from your PC.

www.penny.net

http://www.1source4stocks.com/

www.wifka.de/wirtschaftsfahndung

Think you’ll get rich off penny stocks someday? Without understanding the risks, you could end up penniless…

www.investopedia.com/articles/03/050803.asp

Bill Mann’s been tracking hyped penny stocks. Guess what the results are.

www.fool.com/news/commentary/2003/commentary030806bm.htm

http://www.hotstockmarket.com/

www.theburstingbubble.com

www.spamstocktracker.com

Derived from the 50 most active stocks priced under $5 listed on Nasdaq

Provided by AllPennyStocks.com

Derived from the 50 most active stocks priced under $1 listed on OTC

Provided by AllPennyStocks.com

aus Wikipedia, der freien Enzyklopädie

Wechseln zu: Navigation, Suche

Unter Aktienspam versteht man den massenhaften Versand von E-mails (Spam) mit Werbung für eine Aktie, um deren Kurs in die Höhe zu treiben.

In diesen E-Mails werden meist Aktien des Penny-Stock beworben. Der Versender prophezeit eine hohe Kurssteigerung (bis zu 800 Prozent), weil das Unternehmen angeblich in Kürze „gute Nachrichten“ (neue Erfindung, neuer Absatzmarkt o. ä.) veröffentliche. Meist werden die Aussagen als Insiderwissen deklariert.

Dabei kauft der Versender der Mails vor dem Versenden die günstigen Aktien, die meist unter 10 Cent kosten. Angeregt durch die Werbung, steigt das Handelsvolumen und in dessen Folge der Börsenkurs der Aktie. Eine Verdopplung des Kurswertes ist dabei nichts Außergewöhnliches.

Sobald jedoch einige Aktionäre – meist auch der Versender der Werbung – ihre Aktien verkaufen, fällt der Kurs wieder stark. Zum Teil werden dann sogar Kurswerte erreicht, die unter den Kurs vor dem Spam-Versand liegen. Nicht rechtzeitig abgesprungene Aktionäre bleiben dann auf nahezu wertlosen Papieren sitzen.

Es ist zwischen 2 Möglichkeiten des Aktienspams zu unterscheiden. Es werden zum Einen ausländische Aktien beworben, die der Anleger nie mehr verkaufen kann, da diese nur beworben werden um sie selbst zu verkaufen. Man spricht auch vom “Abladen”.

Die andere Art von Aktienspam ist die Kaufempfehlung von Aktien, meist deutscher Pennystocks. Hier hat der Spammer vorher Aktien gesammelt und gibt dann die Kaufempfehlung bekannt. Dies kennt man schon von Fernsehsendungen und Börsenzeitschriften. Das Phänomen der Aktientipps ist laut dem BAFIN alt (Börsenguru), nur das Medium Aktienspam ist neu.

Im ersten Fall erwirtschaftet der Spammer die gesamten Einnahmen während im zweiten Fall der Spammer genau wie andere Käufer vom Kurssprung profitieren.

Wenn in beiden Fällen auf diese Interessenkollision nicht wirksam hingewiesen wird und die Aktie durch die Kaufempfehlung steigt oder fällt, stellt dies eine Straftat dar. Wenn der Kurs sich nicht verändert, ist es eine Ordnungswidrigkeit.

Das Versenden von Aktienspam stellt einen Wettbewerbsverstoß dar. (§7 UWG Belästigende Werbung)

Quellen:

Wertpapierhandelsgesetz WpHG, Täuschungshandlungen

Verordnung zur Konkretisierung des Verbotes der Marktmanipulation (Marktmanipulations-Konkretisierungsverordnung – MaKonV)

Siehe auch [Bearbeiten]

• Scalping

Weblinks [Bearbeiten]

• Untersuchung: Aktien-Spams beeinflussen Kursverläufe, Artikel vom auf heise.de vom 12. April 2006
• Aktien-Spam: US-Bösenaufsicht startet “Operation Spamelot”, Artikel auf net tribune vom 9. März 2007

Von „http://de.wikipedia.org/wiki/Aktienspam“

Kategorien: Wertpapierrecht | Aktienmarkt | World Wide Web | E-Mail

From Wikipedia, the free encyclopedia

Jump to: navigation, search

Penny stocks are common stocks that trade for less than $5 a share.

//

[edit] Definition

In the U.S. financial markets, the term penny stock commonly refers to any stock trading outside one of the major exchanges (NYSE, NASDAQ, or AMEX), and is often considered pejorative. However, the official SEC definition^[1] of a penny stock is a low-priced, speculative security of a very small company, regardless of market capitalization or whether it trades on a securitized exchange (like NYSE or NASDAQ) or an “over the counter” listing service, such as the OTCBB or Pink Sheets. The terms penny stocks, microcap stocks, small caps, and nano caps are also all sometimes used interchangeably, however per the SEC definition, penny stock status is determined by share price, not market capitalization or listing service.

In the UK markets, penny stocks, or penny shares as they are more commonly called, generally refer to stocks and shares in small cap companies, defined as being companies with a market capitalization of less than £100 million and/or a share price of less than £1 with a bid/offer spread greater than 10%…^[2] In the UK Penny Shares are covered by a standard regulatory risk warning issued by the Financial Services Authority(FSA)^[3]

In France, penny stocks generally refer to risky stocks with a price of less than 1 euro.[1]

Penny stocks generally have market caps under $500M and are considered extremely speculative, particularly those that trade on low volumes over the counter. The Securities and Exchange commission warns that, “Penny stocks may trade infrequently, which means that it may be difficult to sell penny stock shares once you own them. Because it may be difficult to find quotations for certain penny stocks, they may be impossible to accurately price. Investors in penny stocks should be prepared for the possibility that they may lose their whole investment.“^[4]

[edit] High-Risk Investments

Many new investors are lured to the appeal of penny stocks due to the low price and potential for rapid growth which may be as high as several hundred dollars in a few days. Similarly, severe loss can occur and many penny stocks lose all of their value in the long term. Accordingly, the SEC warns that penny stocks are high risk investments and new investors should be aware of the risks involved. These risks include limited liquidity, lack of financial reporting, and fraud.^[5]

Since a penny stock has fewer shareholders, it is less ‘liquid’, meaning it will not trade as many shares per day as a larger company. Any sudden change in demand or supply of stock can lead to a lot of volatility in the stock price. This lack of liquidity can send a stock price soaring up quickly or crashing down quickly. Lack of liquidity and volatility also makes penny stocks much more vulnerable to manipulation by management, market makers, or third parties. A lack of liquidity can also make it extremely difficult to sell a stock, particularly if there are no buyers that day. This can also make the stocks extremely difficult to short.

Secondly, unlike NASDAQ or the NYSE, there are only minimal listing requirements for a stock to remain on the OTCBB, namely that they make their filings with the SEC on time.^[6] In fact, companies that fail to meet minimum standards on one of the broader exchanges and are delisted often relist on the OTCBB or the Pink Sheets.

Furthermore, stocks trading on the Pink Sheets (recognizable with a .PK suffix) have little to no regulatory or listing requirements whatsoever, at least compared to major markets. There are no minimum accounting standards, change in notification of ownership of shares, and reported other material changes affecting the financial viability of a company, all of which are designed to protect shareholders.^[7]

The SEC notes most the same about Internet message boards, where fraudsters claiming to be unbiased investors who’ve carefully done their due diligence may in fact be company insiders, and that a single person or a small team can create the appearance of a huge interest in a stock simply by creating a huge number of aliases, while banning the most vocal or perceptive critics of these offerings.

[edit] Penny Stocks & Spam

Almost any Internet user with an e-mail address will have been exposed to penny stock promotions through e-mail spam. Approximately fifty-five billion unsolicited “spam” e-mail messages are sent each day, a significant proportion of which tout penny stocks, usually as part of a pump and dump scheme. According to a study conducted at Oxford,^[8] 15% of all spam was related to penny stock fraud. According to the study, “People who respond to the “pump and dump” scam can lose 8% of their investment in two days. Conversely, the spammers who buy low-priced stock before sending the e-mails, typically see a return of between 4.9% and 6% when they sell.”

[edit] Penny Stock Fraud

The reason for all this relentless promotion of penny stocks is because of the profits to be made through illegal pump and dump schemes. The SEC^[9] explains how it works:

“A company’s web site may feature a glowing press release about its financial health or some new product or innovation. Newsletters that purport to offer unbiased recommendations may suddenly tout the company as the latest “hot” stock. Messages in chat rooms and bulletin board postings may urge you to buy the stock quickly or to sell before the price goes down. Or you may even hear the company mentioned by a radio or TV analyst. Unwitting investors then purchase the stock in droves, creating high demand and pumping up the price. But when the fraudsters behind the scheme sell their shares at the peak and stop hyping the stock, the price plummets, and investors lose their money. Fraudsters frequently use this ploy with small, thinly traded companies because it’s easier to manipulate a stock when there’s little or no information available about the company.”

There are all sorts of variations of the classic pump and dump, from short-and-distort to selling chop stocks — the last being a scam in which shares are acquired for pennies under Regulation S and then illegally sold to overseas or domestic retail investors.^[10] Other features of the typical penny stock scam include spam e-mails^[11] and junk faxes^[12] that tout ludicrous and fraudulent claims, crooked newsletter writers who promote a stock for a fee,^[13] message boards swarming with “buy now!!!” postings about a stock from anonymous, paid posters,^[14] fake or misleading press releases issued by the company,^[15] or boiler rooms full of cold-callers targeting naive, elderly, or foreign buyers^[16] all in attempt to drive up the share price while the insiders sell.^[17]

A more recent outbreak of penny stock fraud is far more brazen, and is based mostly overseas.^[18] Organized crime gangs in Eastern Europe and Asia will acquire a large number of shares of a moribund penny stock. Then using passwords and logins to electronic brokerages, such as E*Trade, stolen at public computer terminals in hotels and elsewhere, they will then use the hijacked customer accounts to buy up shares, while at the same time selling their own shares, draining the customer accounts and leaving their victims holding thousands of shares of worthless penny stocks.

While not all stocks listed on the Pink Sheets or the OTCBB are fraudulent, one Business Week article estimated that chop stocks alone “make up perhaps half the 85 million-share daily volume of the OTC Bulletin Board.”^[19]

[edit] External links

• Penny Stock Information
  • Microcap Stock: A Guide for Investors
  • Penny Stock Rules from the SEC
  • (French) The Myth of Penny Stocks (Edubourse Online)

• Penny Stock Fraud
  • The SEC on Pump-and-Dump stock Schemes
  • Article on “Chop Stocks” and stock fraud
  • “The Mob on Wall Street” Business Week article
  • SEC Testimony on Organized Crime in the Markets

[edit] References

1. ^ SEC (2006-02-02). Penny Stock Rules. U.S. Securities and Exchange Commission. Retrieved on 2006-07-12.
2. ^ Pennysharesonline.com (2006-06-06). What Are Penny Shares. Retrieved on 2006-08-09.
3. ^ cityequities.com (2005-03-16). Standard Regulatory Risk Warning for Penny Shares. Retrieved on 2006-08-09.
4. ^ SEC (2005-08-02). Penny Stock Rules. U.S. Securities and Exchange Commission (Emphasis in the original). Retrieved on 2006-06-15.
5. ^ SEC (2006-02-02). Microcap Stock: A Guide for Investors. U.S. Securities and Exchange Commission. Retrieved on 2006-06-15.
6. ^ Investopedia (2005-09-05). The Lowdown on Penny Stocks. Investopedia. Retrieved on 2006-07-12.
7. ^ Investopedia (2005-09-05). The Lowdown on Penny Stocks. Investopedia. Retrieved on 2006-07-12.
8. ^ BBC News (2006-08-05). Spammers Manipulate Stock Market. BBC News. Retrieved on 2006-11-20.
9. ^ SEC (2005-01-11). Pump&Dump.con. U.S. Securities and Exchange Commission. Retrieved on 2006-11-21.
10. ^ Gary Weiss. “Investors Beware“, Business Week, 1997-12-15. Retrieved on 2006-06-15.
11. ^ NASD (2005-09-05). Stock Spams and Scams. National Association of Securities Dealers. Retrieved on 2006-06-15.
12. ^ Junkfax.org (2006-03-29). Anatomy of a Stock Fraud. Junkfax.org. Retrieved on 2006-06-15.
13. ^ SEC (2005-04-25). How to Avoid Internet Investment Scams. U.S. Securities and Exchange Commission. Retrieved on 2006-06-15.
14. ^ Harry Domash. “Internet Makes Stock Scams Easy“, San Francisco Chronicle, 2000-6-12. Retrieved on 2006-06-15.
15. ^ Assistant United States Attorney Carl Moor (2000-09-20). Emulex Hoaxer Indicted For Using Bogus Press Release. U.S. Department of Justice. Retrieved on 2006-06-15.
16. ^ Attorney General Eliot Spitzer (2000-09-27). BROKERS IN $3.2 MILLION LONG ISLAND BOILER ROOM STOCK SCAM CASE SENTENCED. Office of the New York State Attorney General. Retrieved on 2006-06-15.
17. ^ Wisegeek.com (2006-06-15). What is Penny Stock Fraud?. Wisegeek.com. Retrieved on 2006-06-15.
18. ^ Ellen Nakashima. “Hackers Zero In on Online Brokerage Accounts“, Washington Post, 2000-10-26. Retrieved on 2006-11-21.
19. ^ Gary Weiss. “Investors Beware“, Business Week, 1997-12-15. Retrieved on 2006-06-15.

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Als Penny-Stock bezeichnet man Aktien, deren Wert unter einer Einheit in lokaler Währung liegt. Im Euro-Raum sind dies also Aktien, die einen Wert von 99 Cent oder weniger besitzen. Aufgrund des oftmals sehr geringen Handelsvolumens an den Börsen sind die Aktien nicht selten das Objekt von Spekulanten und weisen eine hohe Volatilität auf.

Im Zuge des Platzens der Spekulationsblase am Neuen Markt in den Jahren 2000 und 2001 stieg die Zahl der Penny-Stocks stark an. So notierten im Juli 2001 etwa 40 der 343 am Neuen Markt gehandelten Aktien knapp über oder unter einem Euro.

Aufgrund verschärfter Delisting-Regeln sind Penny-Stocks in den wesentlichen Indizes der Deutschen Börse (DAX, MDAX, TecDax, SDAX) nur noch selten anzutreffen. So fanden sich am 18. April 2005 im DAX und im TecDax keine Penny-Stocks, im MDAX und im SDAX nur je einer. Am 30. September 2005 war nur noch im SDAX ein Penny-Stock zu finden.

Neuerdings (Februar 2007) werden Penny-Stocks für Aktienspam missbraucht, da sowohl das sehr geringe Handelsvolumen als auch die geringe Anzahl ausgenutzt werden.

Von „http://de.wikipedia.org/wiki/Penny-Stock“

Kategorie: Wertpapier

…

http://www.heise.de/newsticker/meldung/71973

欧洲科学与人文研究院院士斯蒂芬·本赫伯4月2日（本周一）下午在我系发表罗马俱乐部2007年研究报告
学术进展   2007年04月2日
题目：Our Future Economy: Money and Sustainability –The Missing Links
Follow-up Report to the Club of Rome
我们未来的经济：金钱和持续性–消失的联系（罗马俱乐部后续报告2007年版）

时间：2007年4月2日下午2：00
地点：哲学系会议室

讲演者介绍：斯帝芬•本赫伯（Stafan Brunnhuber）生于德国奥格斯堡。医学博士、文学硕士、哲学博士（社会经济学方向，师从R. Dahrendorf。目前担任匈牙利布达佩斯PPKE大学教授，医疗保健与可持续发展问题著名专家。德国威尔茨堡大学教授，博士生导师，瑞士苏黎世卡尔 荣格学院研究员，欧洲科学与艺术研究会会员，欧洲医学会委员会委员。在很多国家的大学担任访问教授。主攻精神病学和心理治疗，担任心理创伤治疗、身心疾病 治疗、慢性疼痛综合症等领域高级咨询师。担任欧洲科学与人文研究院院士，是罗马俱乐部奥地利分部成员（该俱乐部是著名国际精英组织，被称为世界思想库）。 已在情绪心理学、身心医学、进化经济学、整合心理学和可持续性等问题上发表著述逾150次/部。其中《高级精神病学与心理治疗》已经连续出版五次；《健康 即是财富——21世纪初欧洲医疗保健策略（2004）》是欧洲医学会提交给欧盟的研究报告；《Wie wir wirtschaften werden》是欧洲科学与人文研究院第一个公开发表的研究，是Meadows“发展极限”的后续研究。

2003年获得“国际著名科学家”称号，2004年获得“终身科学奖”，2004年获得“国际和平奖”。主要研究兴趣在于社会科学（代币）和医学 （CAM）的补充策略与整合策略研究。业已参加两项欧盟议会报告研究（“健康就是财富”，2004；“21世纪医学范式”，2006）。现亦担任北京中医 科学院世界卫生组织（WHO）合作中心（北京）“中医与心理障碍”“临床咨询”两门课程教授。

作为一名禅宗学者，他立志研究心理、灵性、社会科学和CAM（补充医学和替代医学）的关系。目前正在全世界作演讲，介绍他关于“金融与可持续性”、“进化心理学”、“CAM”与罗马俱乐部报告的新进展（2007年出版）。

讲演提纲：

Our Future Economy: Money and Sustainability –The Missing Links
Follow-up Report to the Club of Rome

Authors: B. Lietaer / S. Brunnhuber

What was missing from the First Report to the Club of Rome, The Limits to Growth?
In their groundbreaking report, Limits to Growth (1), Dennis and Donella Meadows focused on the close connection between population growth, food production, industrial development, pollution, and the consumption of resources. In this and similar studies, “the function of money is to convey information on the relative cost and the value of this hardware … money flows are of no particular interest here, as only physical-material flow is subject to the limitations of our planet, whereas money flows are not.” (2) In other words, money is simply considered a passive unit of measurement, like the scales of Celsius or Fahrenheit for measuring temperature. Monetary processes play no independent role in such an approach. In short, it is assumed that money is and will remain neutral from both an economic and sustainability viewpoint. The balance of the new report is then dedicated to providing potential answers to one single question: How can we design a monetary system that supports instead of hinders a sustainable future for humankind?
Methodology used: This report utilizes five tools: 1) inviting input from representatives from different disciplines; 2) scenario building; 3) discrepancy analysis of monetary systems; 4) design of solutions through complementary currencies and 5) thorough reforms of the existing monetary system. Each of these approaches by itself is an exercise in critical thinking and backed up by empirical data.
Is our current monetary system sustainable? According to the generally prevailing view, the financial system is mainly a coordinating mechanism — a simple service function that supports the real economy. However, at least seven characteristics of today’s financial system reveal that it is a not neutral value.

1. Instability of the international financial system itself
2. Pro-cyclical money creation process
3. Short-term orientation
4 .Compulsory growth pressure
5. Unrelenting concentration of wealth
6. Devaluation of social capital
7. Mobility of capital vs. mobility of goods

These seven drawbacks of the present structure of the financial system are sufficient to conclude that there is some inconsistency between sustainability and our current monetary arrangements.

Key Findings:
1. Monetary markets have become systemically unstable. They show no tendency to evolve toward a state of long-term equilibrium as classic economic theory claims. Instead, they have proven to be subject to more frequent and harmful disruptions. Furthermore, trouble in a financial market creates trouble for an entire economy or even entire continents, as proven, for instance, by the monetary collapse in a dozen Asian countries during the late 1990s.

2. Our monetary and financial systems are not neutral, or said in other words, they are not value free, relative to the sustainability of the “real” economy, the economy where goods and services of both financial and non-financial nature are being produced and exchanged. On the contrary, many economic activities are deeply influenced and to a significant extent even pre-determined by the architecture of our monetary system. This applies just as much to savings and consumer habits as it does to the distribution of assets and income; the time horizon under which entrepreneurial decisions are made; the amplification or dampening of the business cycle; and, the growing gulf between industrialized and developing countries.

3. Our monetary system is not a law of nature, best understood by inquiry techniques suitable for studying apples falling from trees. Instead, the monetary system is a social institution, best studied by examining how it shapes people’s interests, behaviors and patterns of socialization. It has its basis in convention – comparable to the statutes of a club. As such it is subject to conscious change. It is a right, even an obligation, for a society to choose appropriate and effective agreements and systems.

4. Rethinking its money system will also be shown as one of the most powerful leverage points available in a society for creating sustainable development. If sustainability has to become a genuine and realistic aim, we must address the questions raised about the sustainability impact of our current monetary arrangements. Treating any social practice as above question, thereby running it on automatic pilot, critically inhibits our ability to plan and craft our future. This report shows how to use several tools for attaining “win-win” solutions in this domain.

5. Considering our scenario methodology: The results identify a total of six scenarios, and illustrate that even relatively small differences in initial policy conditions can have over time considerable effects, and thereby lead to very different future developments. Here, it becomes clear why the financial markets act as a critical lever with regard to a sustainable development of our economies. Out of the six scenarios, three scenarios meet our sustainability criteria. Considering the financial system, our conclusions are therefore optimistic.

6. The problems solved fall into two major categories: a) “complementary monetary innovations”, i.e. solutions that leave the current system intact, but balance out some of its negative effects and, b) “monetary reforms”, i.e. modifications in the existing monetary arrangements. Just as a ship can be made more capable of weathering storms either with the help of a longboat, or by changing its design; the stability of financial markets and their impact on sustainability could have a mixture of complementary and reform mechanisms that significantly reduce the inherent instability of the current global monetary architecture and can lead us to a sustainable future.

In the presentation for China the specific socioeconomic issues china is challenging are stressed and concrete problems-solvings beyond plan economy and market oriented economy are given, based on the cultural background of Taoismus/ Confuzianism. Hereby the link between the traditional (TCM) and western healthsector do play a major role

(1) Meadows, Donella H. and Meadows, Dennis The Limits to Growth: A Report for the Club of Rome’s Project on the Predicament of Mankind (Universe Books, March 1972). See also: Meadows, Donella; Randers, Jorgen; Meadows, Dennis: Limits to Growth: the 30-Year Update (White River Junction, VT: Chelsea Green Publishing Co, 2004).

(2) Meadows, Donella H., et al. Beyond the Limits: Confronting Global Collapse, Envisioning a Sustainable Future, (Chelsea Green Pub Co, May 1992).

All copyrights reserved 2001-2007. 版权所有 北大哲学系

Washington - Nach einer Flut von Spam-E-Mails mit irreführenden Angaben hat die US-Börsenaufsicht den Handel mit den Aktien von 35 Kleinunternehmen ausgesetzt. Der Schritt solle Investoren davor bewahren, aufgrund falscher Angaben in den Werbe-Emails Anteile der betroffenen Firmen zu kaufen, teilte die Aufsichtsbehörde SEC am Donnerstag mit. Jede Woche würden etwa 100 Millionen solcher E-Mails verschickt, die “dramatische Anstiege im Aktienwert und im Handelsvolumen” auslösten, wobei viele Anleger ihr Geld verlören. Die SEC kündigte an, verstärkt gegen solche unlauteren Methoden vorzugehen. Das Projekt trage den Namen “Operation Spamelot”.Den Angaben zufolge soll eine Untersuchung klären, wer hinter dem massenhaften Versand solcher E-Mails steht. Die Nachrichten enthielten oft unwahre Angaben über neu entdeckte Vorkommen an Bodenschätzen oder die Neuentwicklung viel versprechender Produkte. Von der Handelsaussetzung betroffen sind Firmen wie etwa America Asia Petroleum Corp., Equitable Mining Corp. und Koko Petroleum Corp. Die Anteile sollen mindestens zehn Tage lang nicht mehr gehandelt werden.

http://www.net-tribune.de/article/090307-46.php

spend 7 days a week researching and analyzing penny stocks, it’s what I do. I am now a top notch penny stock daytrader, and I have a routine. …

http://www.pennyinvestor.com/

http://www.washingtonpost.com/wp-dyn/content/article/2007/01/25/AR2007012501739.html

Aleksey Kamardin, a 21-year-old U.S. citizen whose last known address is in Tampa.

The Scheme

In July and August, Kamardin allegedly hijacked the online trading accounts of oblivious investors, sold existing securities and used the proceeds still held in the accounts to buy thinly traded stocks in order to profit by pumping up the price of the stock. On Aug. 28 and 29, Kamardin wired his proceeds from his E-Trade account to a Wachovia bank account, then transferred the funds to a second account titled in the name of his Russian-born roommate. The roommate wired the funds to a bank account in the Latvian capital, Riga.

The Hijacked Brokers

E-Trade Securities, TD Ameritrade, J.P. Morgan Chase, Charles Schwab

Total Profit From Schemes

$82,960

The Stock Trail

July 14

eLinear

Opened: 20 cents

Sold: 33 cents

Profit: $831.88

July 21

WTS Dime Bancorp

Opened: 13 cents

Sold: 14 cents

Profit: $83.93

July 24

Quantum Energy

Opened: $2.45

Sold: $2.52

Profit: $53.89

July 24

Kuhlman Co.

Opened: 27 cents

Sold: 44 cents

Profit: $2,125

July 28

U.S. Lec

Opened: $3.54

Sold: $4.85

Profit: $2,932

Aug. 2

Mamma.com

Opened: $1.07

Sold: $1.32

Profit: $1,214

Aug. 8

MCF

Opened: 76 cents

Sold: 82 cents

Profit: $348.75

Aug. 11

Northwater Resources

Opened: 90 cents

Sold: $2

Profit: $6,954

Aug. 18

Cyber Defense Systems

Opened: 36 cents

Sold: 73 cents

Profit: $13,499

Aug. 21

Thomas Equipment

Opened: 26 cents

Sold: 40-80 cents

Profit: $13,158

Aug. 22

Butler National

Opened: 30 cents

Sold: 44-48 cents

Profit: $10,541

Aug. 28

ITEX

Opened: 58 cents

Sold: 94 cents

Profit: $15,047

Aug. 24

Fuego Entertainment

Opened: 88 cents

Sold: $1.20-$1.28

Profit: $9,164

Aug. 25

Gales Industries

Opened: 50 cents

Sold: 66 cents

Profit: $7,009

Graphic by Karen Yourish and Tan Ly — The Washington Post

SOURCE: SEC

http://www.pennystockinsider.com/membership/profit-maker-reports.php

The Beauty of Penny Stocks

Wednesday, 27th December 2006 (by J.D.)
This article is about Investing

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William at A Financial Revolution has some words of advice on penny stocks.

The beauty of penny stocks is that they are one of the only investments for which one simple, blanket rule applies without any exceptions: There is never a good reason to buy a penny stock, ever.

Why not?

Penny stocks cost very little for a reason.
The efficient market hypothesis states that the stock price generally reflects all available knowledge about that security. In other words, a $2.00 stock is worth $2.00 to most people — no more, no less.

If there were solid data or a concrete reason for the stock to be valued at a higher price, it would already be at that price.  It is incorrect to think that you are getting a bargain when you purchase a penny stock.  If you purchase a penny stock, you are gambling — you are not investing.

Penny stocks are not cheap.
When investing, it is important to know how to value a stock.  This concept is the topic of hundreds and hundreds of investment books.  It is entirely possible that a stock trading for $72 is cheaper than a stock selling for $8.  The price of a stock does not determine whether or not a stock is expensive.  There are many other metrics for that.

My favorite (and easiest to understand) metric is the Price Earnings (P/E) ratio. The P/E ratio, roughly speaking, is a ratio which relates the price of the stock to the earnings that one can expect to receive from the share of the stock.  This ratio lets you compute how expensive a stock is.  The higher the P/E ratio, the more “expensive” a stock is.  There are many documented problems with a P/E ratio, but I find that for basic analysis it is a good way to compare the relative value of very similar companies.

When you compare the P/E ratio of penny stocks to solid stocks, you will notice that the P/E ratios for most penny stocks are much higher.  This is because penny stocks often have very few earnings, and their value (what little value there is) is derived from expectations of future earning (beyond the scope of the P/E ratio).  Because the company has a very low (or negative) P/E ratio, you know that the company isn’t making much money yet.

Making a profit is not easy.
Over 95% of businesses fail before the completion of their first year of operations.  Investing in a new company with no proven track record is very, very risky.  Roughly speaking, if you expect a total loss of your investment 95% of the time, a two-fold increase in your investment 4% of the time, and a ten-fold increase in your investment 1% of the time, the expected value of your $1000 gamble is -$820 ($180 left).


($1000 * 95% * 0) + ($1000 * 4% * 2) + ($1000 * 1% * 10) = $180


Even this scenario is wildly optimistic since the chances of the stock being so successful (10x growth) is much less than 1%.  With penny stocks, you’re risking failure a most of the time.  Sure, you might get a huge return if the company goes big.  But I contend that you can get similar returns over time by investing in well-picked, small-mid sized companies with a proven track record of earnings!

Penny stock prices are easily manipulated.
Since penny stocks have such low market capitalization (low share price and/or very few outstanding shares), people can easily manipulate their stock price by putting in large buy or sell orders.

A common tactic used by many scam artists is a “pump and dump”. The scamsters buy many shares of the stock at a low price and then pump up the stock.  They spam investors (via fax or via e-mail), claiming that they have a “hot new stock.”  The stock is artificially hyped by the scamsters who own shares.  Even if a only a few people believe the hype, they will purchase enough stock to push up the stock price.  As soon as there is a large purchase, the scamsters will sell all their shares, which will send the stock price plummeting.  This leaves the scamsters with the profit and the scam-ees with depreciated shares of a useless company.

If you’re going to gamble, get better odds.
Honestly, if you are looking for a quick way to double your money, my suggestion is to take all the money you’d put into penny stocks, head to the nearest casino, and play a hand of Blackjack with favorable rules.  The expected value of your $1000 gamble is close to -$10 as opposed to -$820!

Final Verdict: F-

Thanks, William! For more of his advice, check out A Financial Revolution, which is a personal finance blog “geared toward the younger generation”.

(Source: http://www.getrichslowly.org/blog/2006/12/27/the-beauty-of-penny-stocks/)

www.sec.gov/answers/penny.htm