A Little More Meat

http://money.iwon.com/jsp/nw/nwdt_ge.jsp?news_id=cmt-088b4424&feed=cmt&date=20070329

PrimeHoldings.Com's Mindpix, Inc. UltraFlex Product to Be Introduced at LPGA Tour Event

Thursday March 29, 4:01 PM EDT

SALT LAKE CITY, Mar 29, 2007 (BUSINESS WIRE) -- PrimeHoldings.Com, Inc. (Pink Sheets:PMGJ), a diversified holding company with early mover initiatives in telecommunications and other strategic industries, today announced that Mindpix, Inc.'s (www.mindpix.com) flagship product UltraFlex will be introduced at the Official LPGA Trainers Trailer during the SEMGroup Championship Presented by John Q. Hammons, Broken Arrow, Oklahoma on May 1-6, 2007. Physiotherapy Associates is the Official Rehab Provider for the PGA, Champions and LPGA Tours. www.strengthenyourgame.com

"Having the UltraFlex featured at an official LPGA tour event demonstrates our appeal to professional athlete trainers," stated David Ballif, CEO of Mindpix, Inc. "UltraFlex is used in player golf specific strength training to become "golf strong" as well as in golfer rehabilitation," continued Mr. Ballif.

"As the official rehabilitation providers for the LPGA, PGA, and Champions tours, Physiotherapy Associates is proud to invite the UltraFlex team to the SEMGroup Championship Presented by John Q. Hammons in Oklahoma May 1st and 2nd," stated Heidi Wutscher, PT, ATC, CSCS, Clinic Director, Physiotherapy Associates, Inc - Tempe SPORT Clinic. "After working with the UltraFlex in the Tempe SPORT clinic, I am excited to introduce the UltraFlex in the Official LPGA Fitness Trailer. UltraFlex provides an alternative method that is both unique and portable for strengthening and rehab that is easy for our patients to use," added Ms. Wutscher.

More information about PrimeHoldings.Com can be found at http://www.stockinformationsystems.com/c/PMGJ/index.html

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995

Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.

SOURCE: PrimeHoldings.Com, Inc.

CONTACT: PrimeHoldings.Com, Inc.

Thomas Aliprandi, 801-755-6859

Copyright Business Wire 2007

It Never Ends....

Remember How The SEC Stalled Meaningful Action for Years on FTDs? More Doing Nothing Ahead...
Posted by: bobo

3/26/2007 1:30 PM
It would be very funny if not completely true.

Those who lost fortunes over the last 7 months, while the SEC finally grudgingly acknowledged that Reg SHO wasn't working, will be glad to hear that the desperately and anxiously awaited action we've all been waiting for has been......

Delayed yet again.

Yes, instead of doing simple things like admitting that the Grandfather clause, which was unlawfully slipped into Reg SHO, and in violation of the SEC's own rules, never received a comment period (thus making it an illegitimately issued hall pass for those refusing to deliver what they sold, often for years)...and doing away with it, what instead has the commission done?

Re-opened the comment period for SHO.

http://www.sec.gov/rules/proposed/2007/34-55520.pdf

Huh? WTF? Why? We already know that there is no basis in the SEC's charter to forgive persistent delivery failures. There is no basis in its mandate of investor protection to allow exemptions for market makers to create massive FTDs - none of which has the most remote basis in bona-fide market making. Failing for weeks, months or years is not bona-fide market making. Never was, and nobody with a working brain would buy it for a second. But apparently the SEC does, hook line and sinker.

We know that Reg SHO hides information rather than encouraging transparency, and badly damages investors and companies, for whom their stock is a fiction Wall Street bad guys have simply refused to deliver - after being paid for the product.

But now instead of an end to the grandfather clause, and a tightening, if not complete elimination, of the egregious options market maker exemption (wherein the options MMs are allowed to create naked short shares in literally un-checked amounts, in order for them to enjoy cost-free hedging in the derivatives market at the direct expense of equity securities investors) we get more stonewalling and requests for comments.

Where is it so hard to see that by allowing speculators in a different market - options - to create stock at will in the stock market (for the sole reason of providing free hedging for the options speculators), materially damaging stock investors as well as the companies affected, that it is BAD for everyone EXCEPT the options speculators? Where is the SEC allowed to favor the interests of options speculators, over the interests of investor protection? Point me to the code section. The enabling language that says, "If you are a company deriving financial benefit by speculating in options, you can hedge your for-profit trades by fabricating non-existent shares at no cost to you - and do so as early and often as you like. Screw investors buying those phantom shares, and those whose stock plummets due to the massive, unauthorized volume you just printed - it's all good. Knock yourself out."

Unbelievable. Really. I've never in my life even hinted at this level of gross and callous disregard for the rule of law as the norm, and yet for year after year after year, investor dollars are taken, nothing is delivered, and the best the SEC can do is "extend" the comment period. Because 8 years ago, naked short selling as we saw in the crash of 1929 was so, er, unexpected and misunderstood - you know, the idea that you might have to deliver the stock you sold, instead of just refusing to do so, and giving the investor the middle finger, was such a quaint notion that the SEC was unable to figure out it could damage companies and investors. That was a tough one. 8 years later, and they still need comments. How about this one: Settle the trades, or go to jail. Did I leave anything out of the mix? Some nuance omitted?

I suppose all those rapists, whose easy pickings every weekend night looked to be in jeopardy from the passage of laws that make it against the law to take women against their will, can rest easy, while the motivations of the rapists are discussed as more info becomes available. "I just get so mad," "She was asking for it," "She was wearing that dress - how clear did it have to be?"

Yet more opportunity to study the motivations of the violent criminal predators is now at hand, while the raping continues unabated.

Folks, I am absolutely dumbfounded.

"I sold, and continue to sell, tens of millions of shares that don't exist, uh, you know, because of the bona-fide market making I'm engaged in that requires the creation of tens of millions of non-existent shares..."

"Well, you grandfathered them all, so why would I go pay money to deliver the shares, when you gave me the free pass for years?"

"When I was selling with unbridled levels of aggression, while my hedge fund clients were telling me to put the company out of business, and bury them, I thought that was bona-fide market making, not criminal stock manipulation. Oops. I heard it was a fun and lucrative game. Cramer said everyone should do it. Sorry. Really. My bad."

"We figured that since you violated the law and enacted grandfathering, that was our go-ahead to use it to keep violating the law and ripping off the last remaining dollars in the US retirement savings system. How about another 6 months to comment on it while we pick the bones?"

"Gotta go create another million shares of OSTK while you have the rubes write letters. Too GD funny. Really very amusing. Ha ha ha ha."

And so on.
Bob O'Brien
----------------------------
From the Blog... http://www.thesanitycheck.com/BobsSanityCheckBlog/tabid/56/EntryID/592/Default.aspx

Submit your comments here:
http://www.sec.gov/cgi-bin/ruling-comments?ruling=s71206&rule_path=/comments/s7-12-06&file_n...

Say it ain't So!

We all know the SEC is of little concern to the unscrupulous.

March 20, 2007 -- Flamboyant Wall Street trader turned TV host Jim Cramer, not known for being the shy, retiring type, might have said too much in a video interview he did for a financial Web site.
The host of CNBC's daily program "Mad Money" had hedge fund-trading desks buzzing yesterday after he bragged about manipulating stock prices during his days as a trader.

In the video from TheStreet .com's "Wall Street Confidential" Webcast, Cramer boasts about manipulating the price of a high-flying stock down, and even acknowledges that doing so might have been illegal. The video is making the rounds on YouTube.

"A lot of times when I was short, I would create a level of activity beforehand that would drive the futures. . . . It's a fun game," Cramer said in the Webcast, which was moderated by TheStreet.com Executive Editor Aaron Task.

Cramer later said that "no one else in the world would ever admit that, but I don't care."

However, seconds later, he acknowledged, "I'm not going to say that on TV," referring to his show on CNBC.

A remarkably successful money manager when he ran the $450 million Cramer Berkowitz hedge fund, Cramer in the Webcast shared his "tips" on how to drive a stock price down so that a short-position - a bet that a stock price would drop - remains profitable.

He added that the strategy - while illegal - was safe enough because, "the Securities and Exchange Commission never understands this."

A call to Cramer was not returned."

Pinky CEO of the Year?

http://www.thestar.com/Business/article/195901

Interesting....but....

It is good to see the SEC taking some action but IMHO this happens almost daily in pinkyland.

March 1, 2007
Lawyer Charged in $10 Million Securities Fraud
By REUTERS
Federal prosecutors charged an ex-partner of the law firm McGuireWoods with fraud yesterday, claiming that he illegally obtained and sold shares of various companies for a profit of millions of dollars.

Louis W. Zehil, 41, was arrested, and a federal magistrate later set bail at $250,000.

Separately, the Securities and Exchange Commission filed a civil complaint against Mr. Zehil in Federal District Court in Manhattan.

Mr. Zehil, who worked at McGuireWoods’s offices in Jacksonville, Fla., and New York, resigned from the firm in January. His lawyer declined to comment.

Mr. Zehil represented seven companies between January 2006 and February 2007 in issuing their stock in private investments in public equity, or PIPE, transactions, according to the SEC.

In these PIPE transactions, investors buy restricted shares at a discount and can sell them in public markets after the shares have been registered with the S.E.C., according to the complaint.

Mr. Zehil invested in the seven companies through two entities he controlled, according to the complaint filed by the United States attorney’s office in Manhattan.

But Mr. Zehil told the stock transfer agent that the two companies he controlled were eligible to get shares without a restrictive legend and he sold those shares in the public market for a profit of about $10 million, according to the complaint.

The matter was reported to the S.E.C. by McGuireWoods, the government said, adding that the law firm was cooperating with its investigation.

Copyright 2007 The New York Times Company