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Georgia Bard

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Alias Born 08/30/2000

Georgia Bard

Re: None

Thursday, 11/02/2000 4:24:38 PM

Thursday, November 02, 2000 4:24:38 PM

Post# of 484
Market Marker Manipulation or Pump & Dump Part 2

Now what about since the halt, while trading on the pinks up till J. Alexander came on the Box November 1, 2000. Well, the leopard appears to have gotten a few more spots.

Red Flag S-8 (05/31/2000) 5,200,000 James Wexler; Dominique Einhorn; Earl Gilbrech William Lane as partial payment for consulting services

Red Flag S-8 (06/02/2000) 400,000 Daniel G. Chapman and Sean P. Flanagan have acted and will continue to act as legal counsel on behalf of the Company

Red Flag S-8 (06/02/2000) 2,000,000 Ryan Kavanaugh as partial payment for consulting services

Red Flag S-8 (06/02/2000) 100,000 Scott Hatfield for technical consultant services

Red Flag S-8 (06/02/2000) 600,000 Richard Epstein, Chris Jensen, Robert Graham consultant services

Red Flag ERROR: S-8 POS (06/02/2000) 5,200,000 consulting shares

Red Flag S-8 (06/16/2000) 1,000,000 Ryan Kavanaugh as partial payment for consulting services

Red Flag S-8 (07/10/2000) 600,000 Louis Sabatasso, Laurie Belger for consulting services

Red Flag S-8 (07/10/2000) 1,780,000 Richard Epstein, Rogel Patawaran, Elle Travis for consulting services

Red Flag S-8 (07/10/2000) 600,000 Louis Sabatasso, Laurie Belger for consulting services

Red Flag S-8 (07/10/2000) 100,000 Charles Yourshaw, Nick Gorenc for consulting services

Red Flag S-8 (07/10/2000) 1,780,000 Richard Epstein, Rogel Patawaran, Elle Travis for consulting services

Red Flag S-8 (09/12/2000) 7,500,000 Richard Epstein, Chris Jensen for consulting Services

Red Flag S-8 (09/28/2000) 1,150,000 Jim Pugh, Darrel Dixon, Robert Graham, Nathaniel Adams for consulting

Red Flag S-8 (10/10/2000) 4,840,000 Richard Epstein, David Weiler, Chris Jensen, Quinn Brady, consulting.

Red Flag That’s 27,650,000 S8 shares since the halted and 36,283,000 since July 2, 1999. 36,283,000 / 180,583,813 = 20% of the issued shares are to S8 filings. However, if you take out the 20M and 61M SB2 registrations and the original float of roughly 15M that would reduce the 180.5M to 84,500,000 and divide in the S8 shares that is 43% of the issued and outstanding since July 2, 1999.

Could some of these people be the posters on line with inside information "Tipping" or "Pumping" or "Hyping" and not disclosing in accordance with the SEC rules and regulations for 17b of disclosure?

Here are the 26 S8 names and the number of times their name appears in the S8 filings since July 2, 1999: Richard Epstein (7), Chris Jensen (3), Dominique Einhorn (3), James Wexler (3), Rogel Patawaran (3), Earl Gilbrech (2), Laurie Belger (2), Louis Sabatasso (2), Robert Graham (2), Ryan Kavanaugh (2), William Lane (2), Steve Goodman, Shar Offenberg, Scott Hatfield, Robert Bragg, Richard Parnes, Quinn Brady, Nick Gorenc, Nathaniel Adams, Marcine Aniz Uhler, Laurel-Jayne Yapel Manzanares, Jim Pugh, Jane Hauser, Ezzat Jallad, David Weiler, Darrel Dixon, Daniel G. Chapman esq. & Sean P. Flanagan esq.

To the original question "Is ECNC a market Maker Manipulation or a Pump & Dump". Well, this one does not appear to be is a MMM that is for sure. In 16 months is has gone from 14M to 180M in round figures outstanding and issued. This equates to around 13M a month being issued to various scenarios, that is roughly 600,000 shares a day!

ECNC has every Red Flag in the book from debentures, lawsuits for errors, careless errors in filings, extreme dilution, numerous S8s, numerous consultants, off-shore businesses, off-shore accounts, small revenues, mega losses that increase as does the monthly outstanding share dilution, increasing authorized to 300M now, possible paid voices on line, etc.

But has the leopard changed its spots or has the leopard just gotten a little more cautious in its misleading statements by doing proper wording such as:

A press release on (6/29/2000) it states, "eConnect's agreement with Peters Entertainment is anticipated to generate a minimum of $500,000 in revenue to eConnect for consulting services over the next two months, with the final payment to coincide with eConnect's scheduled delivery of eCashPads.

However, in checking the filings, I see no an agreement mentioned much less Peters Entertainment or the $500,000.00 anticipated revenues. Matter of fact, I do not see any revenues at all from this. Hey, I might have over looked them in reading filings.

or maybe more problems where in the filings it states Due to a dispute between the parties and unavailability of necessary accounting records, Powerclick, Inc. did not report its second quarter earnings/losses (April 1 - June 30, 2000) to the Company's management. Interesting that they can’t get numbers

Or maybe the delay in NDFR closing to October 31, 2000 then at the meeting the deadline for that acquisition has again been extended, to January 2, 2001, said R. Scott Hatfield, NDFC's executive vice president.

Now on Sept-14-200 a news release it states that they back off the deliveries previously mentioned that would occur in September with no future date mentioned.

On Sept-18-2000 they announced the relaunching of bringing Top Sports public under the ticker GICG. I did not see a filing on this item, may have over looked it though.

However, it states you can order on their website www.econnectholdings.com when you click on the "Get Your ecashpad" a screen comes up giving you 4 bullet points of instructions for processing your order with an address to send a check. Interesting, a check but do they have any ecashpad product to ship to you for your money. There is not even a form to fill out. However, the Oct-31-2000 news release states, "The first 5,000 eCashPads are now being manufactured in Asia, and 10,000 are expected to be available for sale and distribution to consumers and merchants by the end of November.

They got the funding they say but at the meeting Oct-30-2000, they stated only 5,000 were in production in Asia and 10,000 by the end of November. So do they have product to fill the checks that go off-shore to buy their product. We shall see.

But the same is happening again the way I see it, because numerous internet posters with selective disclosure properly worded information are "tipping" the thread and beginning the misleading rumors again. An example is that on Oct-31-2000 a post was made effectively starting some rumors and it was 50 minutes before a news release came out detailing the post. Could B.Lemick be one of the 26 consultants that got S8 shares?

Kanakaris Wireless (KKRS)thread on Raging Bull By: B.LEMICK $$$$ Post #58746 on Tuesday, 31 Oct 2000 at 9:07 AM EST 50 minutes prior to a news release that came out on Comtex
http://www.ragingbull.altavista.com/mboard/boards.cgi?board=KKRS&read=58746
If this isn’t "Tipping" or "Pumping" I do not know what is. This poster the last time I believe, always seem to know ahead of time events and selective information. However, this post is repeating what an associate said.

Now they state, "Deliveries will start very shortly including those to KKRS." But in the next sentence they state, "I assume that Kanakaris will be beta testing it within the next week." So apparently shipping will be in the next few days if beta testing is suppose to happen. However, they state "ECNC is real" but its core product has not been beta tested properly then is it really real till after the beta testing.

The first rumor is "There WAS a reppresentive of Sun Micro their and he was most impressed. My guess is that there will be an alliance announced there very shortly.", which is merely baseless speculation because the industry leader is checking out a possible competitor does not mean there is going to be an aliance.

However, it has been discovered by Bloomberg, "Yarter, in an interview last night, said he hadn't planned to address the shareholders but spoke at the urging of CEO Hughes. Yarter said he encouraged EConnect to use Sun's Java programming language, and set up meetings between EConnect and various Sun units. He said he thought he was quoted accurately in EConnect's press release. Yarter also said he owns a small quantity of EConnect stock." Which is a far stretch to an alliance so this rumor is misleading at worse.

The second rumor, "The guy from National Data was talking about the ECNC alliance being formed with American Express, with Amex intent to use the cashpads for their Blue Card." Blue Card is through SUNW Sun Microsystems, I believe. Now I can’t see or even relate to Sun Microsystems going to a major client using their industry leading products to put them onto an OTC off-shore company’s product.

The next rumor, "The American Stock Exchange has expressed interest in having the trade there.[/i}" Or in the Oct 31, 2000 press release where it states, "the Company will immediately apply for listing on the NASDAQ National Market or the American Stock Exchange." According to both the NASDAQ & the American Stock Exchange Qualifications Divisions, a stock trading on the pinks or OTC that do not meet the listing requirements these markets are NOT interested in nor do they invite, is the way I understand it. However, if a company that meets the requirements for listing contacts them then absolutely they are interested in a company coming aboard NASDAQ or the American Stock Exchange to trade. Here are the sites for NASDAQ Listing Requirements http://www.nasdaq.com/about/NNM1.stm or http://www.nasdaq.com/about/scm.stm However, this is just the bare minimum and other requirements have to be meet once a regulator is assigned to the application such as: the "On Going Concern", MM sponsors, special boards, etc. I have reading the filings and do not see where they can qualify to trade on any exchange but the OTC for right now.

By it being relisted this next statement is nonsense. If MMs did all this then why bring it back up trading on the OTCs. Where they state, "dithis is a good company to be aligned with, the fact that they got delisted is all politics controlled by a few mms,"

Now note they did not mention ECNC is about to increase the outstanding shares from 200M to 300M. ECNC clearly states the issuance of shares is to raise funds. "We have to increase our authorization of shares, so that we have more funds to work with." which means to me they are about tapped out at 200M or close to it with over 180M outstanding and issued per last filing. Plus the (Oct/31/2000) News release that states, "The company considers relisting on the OTC BB first to be crucial, however, because it believes that shareholder interest following repricing of the issue by a market maker would generate funds for acquisitions, and allow expansion of the company's board of directors", which to me says they are going to be selling stock to get money.

My concern, as is probably the same as the SEC’s. That is, there is already massive "tipping" or "pumping" starting again.

Correct me if I am wrong, but all this is to me, is almost the exact same events of the last P&D that happened back in Feb when 6M shares of stock was issued to 6 consultants on Feb 10, 2000 and on Feb 29, 2000 the stock began to run to over $20.00 a share of before it got halted in March.

So what is going to cause the halt this time on this newest P&D, considering the settlement was econnet or Mr. Hughs would not make anymore false or misleading statements? Presently, ECNC is playing the "Sun Microsystems Card" and that is not very wise.

Bottom Line:Just one misleading statement and the SEC can halt it again nailing the newests people that dared to enter this stock!

To me, it just seems to be history repeating itself.

Questionable "tipping" posts, possible borderline misleading statements in the news release and filings, consultant shares issued as a prelude to convenient "tipping" or "Pumping" of convenient well worded opinionated inside information, etc.

Just my opinion and I could be wrong!

Gary Swancey



:=) Gary Swancey

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