** SPECIAL REPORT **
Shocking news today as WSE delisted AtomicPink(PNK) with an announcement that the company is bankrupt and all shares have no value and thus removed. Definitely didn't see this one coming and just goes to show you how quickly things can get sticky around here.
Mizzy Maltz seemed to conduct business well, with popular items listed regularly on SLExchange.
We should have heeded the warnings when we read about this a month and a half ago. Hindsight is 20/20, as I also noticed a flame in the forums around the same time (which has since been removed) and just didn't expect this.
The recent stock sell-out by a major shareholder was also a bad sign...
I received an IM from Sportsbets Writer, who was the unlucky investor who took hold of these shares from the obvious insider trading seller Paci Barbarossa (I will be having a word to this avatar in-world). The IM was a snippet of another conversation he was in progress with Mizzy Maltz; "Mizzy Maltz: Well, I hate to tell you this, but I already wrote into Luke at the WSE days ago to report that we are bankrupt and to delist PNK but they have not done so yet." Not good news for investor confidence.
As always I will be chasing this one up myself and I will put as much light on this situation as possible to ensure we have the foresight to see things like this coming in the future.
Disclaimer: I personally owned 12k+ shares in (PNK)
Logansan Oh
- CEO, Chairman - S&W Assets and Funds Management
Thursday, October 11, 2007
AtomicPink - Delisted!?
Posted by Logansan Oh at 4:08 PM
Subscribe to:
Post Comments (Atom)
1 comments:
The WSE receives many emails and only recieved an email from Mizzy Maltz for the first time after PNK had already been delisted from the WSE>
This not to say that Mizzy Maltz didn't attempt to contact us, we are simply saying that this is the first email from Mizzy Maltz that the WSE has received.
Ideally the WSE would prefer to be informed of any financial challenges by CEO's when it is apparent to them so the WSE has an opportunity to assist CEO's with their options or if necessary guide them through the process of liquidation and closure.
Post a Comment