Larry Isen is the author of OTC Journal, a moderately followed pumping sheet that is no different than the rest: it pumps garbage. Always has, always will. No surprise there. In today's offering, Lawrence laments the recent down trend of HECC, formerly known as DUMA, formerly known as SGCA. That's two ticker and name changes in two years, together with a one for 25 reverse split, all signs of stability and integrity...not. If you believe the financials, the company has a per share book value of 20 cents, but was recently trading at fifteen times that.
|OTC Journal Cries About The Disinterest in HECC <click to enlarge>|
I don't know why the stock is trading so poorly, he cries, looks like one seller is liquidating with no regard for price. Really, Larry? No sh*t? Isn't that what this disclosure says?
And I quote: The Newsletter contracts with publicly traded companies or third parties and receives compensation from them as payment for publishing information and opinions about the company and the trading market for their securities.
WHAT THE HECK DO YOU THINK YOU'RE BEING PAID FOR LARRY? TO CREATE A MARKET FOR INSIDERS TO SELL INTO, THAT'S WHAT!
After all, getting two bucks for a couple of dimes is a nice profit, isn't it?
Lucky for Larry, his readers are gullible and support his effort, but eventually they will throw in the towel and then the fun will really begin. Prediction: We''ll see this under half a buck before year end.
A little bit of interesting history on Larry Isen. He purchased OTC Journal from 1st Net Technologies, then a penny stock itself, trading under the ticker FNTT. Larry also owns Small Cap Network, another tout sheet.
In a prior complaint, Larry was convicted by the United States District Court for the Southern District of New York of one count of conspiracy to commit securities fraud and wire fraud based upon his receipt of undisclosed kickbacks for selling Eagle Holdings stock to his clients. At the time, he was a representative of Cohig & Associates Inc. a registered broker-dealer.
Sounds just like the kind of guy we want our stock advice to come from.