American Jewelry Corporation Helps Give the OTCBB a Bad Name - 500 Beiträge pro Seite

[morchel]

Houston, TX – (OTCBB NEWS NETWORK) – June 17, 2002, In a recent daily Splits Report issued by OTCBB News Network, the company American Jewelry Corp (AMJC, now AMJW after the split) was listed to execute a whopping 1 for 7000 reverse split. The split is complete. The company recently filed with the SEC again to increase authorized shares to 5 billion. This is the 8th time this year the company has increased shares authorized for issuance.



Actually the company has a track record of reverse splits as well. Basically, the company’s modus operandi for the last several years has been to dilute heavily, reverse split and raise authorized and do it all over again. The progress promised by the company’s management has never come to fruition and the stock continues to tank, leaving shareholders holding the bag.



American Jewelry isn’t the only company the CEO commits this abuse on. Mr. Isaac Nussen also heads MTN Holdings Inc. (MTNDE: .0001) and Intrac Inc (IRAC: .0001). The latter ran from the same address as American Jewelry. He carries out the same exploitation on both of these companies. MTNDE completed a 1 for 2000 reverse split as recently as April. In November it completed a 1 for 750 reverse split. IRAC pales in comparison, but has traveled the same journey, completing a 1 for 10 reverse split in December.



But I digress, back to American Jewelry Corporation. The company has failed to issue a press release concerning this most recent reverse split. Perhaps an extensive paper trail of its history isn’t what the company is striving for at this point. Because these companies change the name and ticker symbol, new investors can be lured into their future promises of grandeur. And the company can continue to perpetrate these, what some feel should be illegal, actions on new and unsuspecting investors. The SEC should be putting a stop to this kind of abuse. It is this exact type of abuse that has given the OTCBB a bad name over the years.



Ultimately though the responsibility of conducting respectable business lies on the shoulders of management. Companies have a responsibility to their shareholders.



Is this performance considered prudent fiduciary responsibility? Not in my book.

http://www.otcbbnn.com/fpdb/active/html/Amjc0612Comm.htm

...warum lebt Nussen noch?

die anzahl der gefoppten Shareholder muß ja schon gigantisch sein!

morchel

[JavierOxtoa]

ich frage mich - wie kann dieser Mann noch leben? Siche täglich in den Spiegel schauen? Hat dieser Mann noch Ehepartner oder Freunde?

Unglaublich das so etwas möglich ist - USA das Land der .....



Javi

[loss_pro]

und ich frage mich: wer kauft solche aktien?

[loss_pro]

MSM Jewelry Announces 1 for 125 Reverse Stock Split; Symbol Change To MSMC And Reports New Orders and Reduced Overhead
Business Wire - May 23, 2003 10:59
NEW YORK--(BUSINESS WIRE)--May 23, 2003--MSM Jewelry Corp (OTC OTHER:MSMC) today announced that the Board of Directors of the Company approved a 1 for 125 reverse split of the Company`s common stock, effective today.

"We have taken this step today to reduce the number of shares outstanding and to improve the liquidity," said Isaac Nussen, president and CEO of MSM Jewelry, Inc. (MSM).

MSM Jewelry was recently revitalized by a number of important steps including the following milestones:


-- Entered a joint venture with The Ultimate Jewelry Consortium
Beryl Wolk`s international marketing company, IMC Corp. for
the promotion of MSM`s innovative jewelry products directly to
the consumer over radio, television, and the Internet as well
as print media.

-- Substantially reduced overhead by over $500,000 per year

-- Received significant orders from a major electronic retailer

-- Expanded global sourcing of products to reduce fixed costs and
improve margins.
As previously announced, Isaac Nussen and Beryl Wolk will be the directors of the new consortium, which will market high quality jewelry through radio, television, print and Internet advertising with a combined reach of over 77 million consumers per week.

About MSM

MSM is a publicly-traded company located in New York City. The Company is a manufacturer, designer and distributor of karat gold jewelry in the United States. It offers its customers a large selection of jewelry styles, consistent product quality and prompt delivery of product orders. The principal product line is a wide assortment of 14 karat gold earrings, charms, bracelets and rings. The Company offers over 1000 styles of gold charms, earrings, bracelets and rings. Some of the gold jewelry is accented with colored gemstones. The Company`s customers include mass merchandisers and jewelry wholesalers and distributors. The Company`s website is at www.msmj.net.

Safe Harbor Statement

This press release contains forward-looking statements that involve risks and uncertainties. This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company`s financing plans; (ii) trends affecting the Company`s financial condition or results of operations; (iii) the Company`s growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words ``may,`` ``would,`` ``will,`` ``expect,`` ``estimate,`` ``anticipate,`` ``believe,`` ``intend,`` and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company`s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Other risks are reflected in MSM`s filings with the Securities and Exchange Commission.


CONTACT: MSM Jewelry Corp, New York
Isaac Nussen, 212/736-2500
email: [e-mail]

[Michiko]

Das hierzu passende smilie muss erst noch erfunden werden!

Mannomann!!

Michi

[CR0K0]