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Junk Pumping 102: More Threats from Our Pal Jeff

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December 19, 2007 – Comments (4)

As you remember, yesterday, a certain junk pumper named "Jeff Stone" of one "Wakabayashi Fund" yesterday threatened me with "a good-ole East Texas a---whippin...'

He was angry that I didn't believe his unsolicited rooster [the usual word trips our profanity filter ] and bull story about "Thinkpath," nor take him up on his generous invitation to tout online this miserable little penny stock, a long-term money loser (with a book value per share of -$0.23, that in 1995 did a one-for-5000 reverse split!) that has been promising investors big things for years, and delivering plenty less.

Today, no doubt embarrassed by the fact that his little scheme has been exposed here on this blog, we get the new threat: a lawsuit. Enjoy.

(PS, I believe I already have printed the entire email commentary, something Jeff accuses me of not doing. If Jeff -- who is obviously reading this blog -- has something I've missed, I invite him to join CAPS and put it in the comments. Hey, then he could explain to us why we should all be interested in a money-losing bulletin-board penny stock being hawked via-email blast. And maybe he could tell us what's up with his website's 1980s soundtrack too)

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Seth:Why did you choose to only print a portion of the email commentary? Why not print the entire email correspondence that we had which gives a complete reflection and tone of the communication…? In your reckless assessment, which all transpired within approximately a 45 second time span, you brought about an unprofessional reflection on your employer, Motley Fool.  Perhaps your employer should rethink the amount of leeway that they afford their firm’s representatives.  We are going to explore legal recourse against Motley Fool as well as you personally.  Regardless of cost, this is a promise! 

Regards,Jeff Stone cc: Jeff Daichman/Kane Kessler                Patrick Garner/Motley FoolDavid Gardner / Motley FoolTom Gardner / Motley FoolTadaharu Wakabayashi / Wakabayashi Fund LLC

4 Comments – Post Your Own

#1) On December 19, 2007 at 8:54 AM, TMFBent (99.82) wrote:

Wakabayashi, by the admission of its own pumping report, owns 1.5 million shares of "restricted common" stock, out of, according to the latest SEC filings, 9.35 million diluted shares. Oddly enough, "Wakabayashi" doesn't appear anywhere in the ThinkPath filings, the latest 10KSB, nothing, and I've searched them all via Capital OQ. That seems a little odd, given that the 1.5 million-share position these pumpers claim to hold (and says it's fixin' to sell) would come to 16% of the fully diluted share count. This seems especially strange given the fact that ThinkPath is pretty up-front about its shameless issues of shares for "investor relations" and other "advisory" services. From the latest 10QSB:

On May 14, 2007, the Company issued 240,000 shares of its common stock, no par value, to ROI Group LLC, a Delaware corporation for the provision of investor relations services on behalf of the Company for a period of twelve months. Pursuant to a services agreement, Company is also required to issue cash payments of $10,000 per month for the duration of the agreement.

...

On May 18, 2007, the Company issued 1,084,337 shares of common stock, no par value, to Bearcat Holdings Inc. in consideration of $90,000 for financial and advisory services to be performed over the current year.

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#2) On December 19, 2007 at 8:55 AM, TMFBent (99.82) wrote:

1995 did a one-for-5000 reverse split!)

Make that 2005!

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#3) On December 19, 2007 at 9:14 AM, TMFBent (99.82) wrote:

And let me close by stressing that I'm sincere in my invitation to Jeff to join us and try to correct the record. If I've got him, Thinkpath wrong, put up the data here. I don't believe I am wrong -- as I have seen these pumping processes many times. But if I am, tell us all why, Jeff.

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#4) On December 19, 2007 at 10:38 AM, FoolishChemist (97.01) wrote:

We are going to explore legal recourse against Motley Fool as well as you personally.  Regardless of cost, this is a promise!

Merry Christmas! 

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