Stock Picks

Re: PREMF: Corruption Surrounding PreMD Inc. (Part 1)

jeaninexo — Mon, 27 Apr 2009 06:39:29 GMT

Yawn... Google, "Jeffrey W. Bowyer A concerned American citizen", if you have any doubt this guy is off.

He stated he had a lot of shares of PreMD, so I offered to take them off his hands considering the company is so "corrupt." He didn't want to sell them he just wants to complain endlessly and wants no resolution to anything. Which you will discover when you Google him. If I would of Googled him first I would of never emailed him, but now I know what I am dealing with.

I wouldn't care what this guy says about PreMD if it were true, but it is not. I've been following Brent and his company for years and Bowyer screams crazy accusations across the Internet about many companies and people alike. Somebody needs to slap a defamtion/slander lawsuit on this guy.

No, PreMD voluntarily took themselves off the TSX early, however, they are still available through Pinksheets.

And now I will restate the ending of my last email:

Jeffrey, I understand what you are writing, however, just because you put a few things together-- does not make the way you put it together correct. You are defaming a company that has commited no wrong doing because of your own created path of perception.

Jeanine Zelgiewicz

Re: PREMF: Corruption Surrounding PreMD Inc. (Part 1)

lukematt — Thu, 23 Apr 2009 09:15:13 GMT

jeaninexo:

Premd/PMD stocks are readily available through TSX. Once again there is no corruption surrounding PreMD...You are defaming a company that has commited no wrong doing.

Jeanine Zelgiewicz

Jeanine's behavior is very interesting. She initiated a private email conversation with me. After I responded privately to her, she chose to go public again.

Fine. In Jeanine's email message to me, she wanted to buy my PreMD Inc. shares.

If, as she wrote, "Premd/PMD stocks are readily available through TSX", why would she want to buy directly from me?

1. Jeanine has not been completely honest with the Morningstar community. According to a Toronto Stock Exchange (TSX) news release dated November 4, 2008 and entitled "Delisting Review - PreMD Inc. (PMD)":

"TSX is reviewing the common shares of the Company (Symbol: PMD) with respect to meeting the continued listing requirements. The Company has been granted 210 days in which to regain compliance with these requirements"

In other words, TSX may delist PreMD Inc. shares. and in that case, PreMD Inc. shares will not be "readily available through TSX".

2. When you search on TSX's website, PreMD Inc. is no longer listed.

3. Jeanine thinks that she will silence my negative comments about PreMD Inc. if she buys the shares from me.

Wow.

Like Jeanine, I believe that PreMD Inc. has excellent products with huge potential for the future.

Unlike Jeanine, if PreMD Inc. engages in questionable behavior, I will NOT attempt to cover up its improprieties.

Re: PREMF: Corruption Surrounding PreMD Inc. (Part 1)

lukematt — Thu, 23 Apr 2009 08:40:00 GMT

If you ever wonder how the Credit Crisis could get so far out of control, you’ll find a perfect example in the corrupt folks at online stock and options broker TradeKing (www.tradeking.com), who continue to follow orders from their Mafia handlers.

1. After I opened my account at TradeKing, I inquired about their policy regarding dividend reinvestment. TradeKing responded:

Dear Mr. Bowyer,

Thank you for contacting TradeKing.

You are correct. Accounts are by default setup to receive cash dividends and to not have them reinvested. To add dividend reinvestment (DRIP) to your account or a particular security, you simply need to send us your request by email.

Best regards,

Chris Lebhar

Electronic Customer Support

TRADEKING
5455 N. Federal Hwy, Suite E, Boca Raton, FL 33487

(877) 495-5464

2. According to my TradeKing statement for the monthly period ending December 31, 2008, I received a dividend on two different funds from the “Rydex” family of funds:

12/05/2008 DIVIDEND RYDEX SERIES FUNDS

INVERSE NASDAQ 100

STRATEGY FUND CLASS C

Amount: XXXXXXXXXXXXX

12/05/2008 DIVIDEND RYDEX SERIES FUNDS

INVERSE S&P 500 STRATEGY

C CLASS

Amount: XXXXXXXXXXXXX

Although I *never* told TradeKing to reinvest dividends for either of these funds, my account statement shows that TradeKing reinvested the dividend for only one of the funds:

12/05/2008 REINVEST DIV NUMBER OF SHARES BOUGHT: XXXXXXX RYDEX SERIES FUNDS

INVERSE S&P 500 STRATEGY

C CLASS

REINVEST AT 49.720

Amount: XXXXXXXXXXXXX

Of course, the reinvestment price of $49.72 per share is significantly higher than my average share price for this fund, so the reinvestment is not good for me.

3. Do I need to explain to you why TradeKing would behave this way? (Jeanine, you really should stop defending TradeKing--you're losing your credibility.)

Re: PREMF: Corruption Surrounding PreMD Inc. (Part 1)

lukematt — Thu, 23 Apr 2009 08:35:37 GMT

jeaninexo:

The only one who was trying to inconvience you was TradeKing. They did the same thing to me so finally I canceled my account. I don't believe it was anyone from the prior "Group" you worked for. I also don't understand why you would continue to keep an account with TradeKing when you have had so many problems with them.

What is your basis for stating "I don't believe it was anyone from the prior 'Group' you worked for"?

Answer: You have none. Do you work for the "Group"?

(I don't believe that Jeanine ever had an account with TradeKing.)

Regarding your question "Why you would continue to keep an account with TradeKing when you have had so many problems with them?"

I do not think that transferring my accounts to another brokerage company would make my problems go away. In fact, if I complained about dirty tricks at a second brokerage company, I would look like a person getting divorced for the second time. Much better strategy for me to stay at TradeKing and let them take the full brunt of my whistle-blowings.

Re: PREMF: Corruption Surrounding PreMD Inc. (Part 1)

jeaninexo — Thu, 22 Jan 2009 22:42:22 GMT

The only one who was trying to inconvience you was TradeKing. They did the same thing to me so finally I canceled my account. I don't believe it was anyone from the prior "Group" you worked for. I also don't understand why you would continue to keep an account with TradeKing when you have had so many problems with them. Premd/PMD stocks are readily available through TSX. Once again there is no corruption surrounding PreMD. I understand what you are writing, however, just because you put a few things together-- does not make the way you put it together correct. You are defaming a company that has commited no wrong doing because of your own created path of perception.

Jeanine Zelgiewicz

Re: PREMF: Corruption Surrounding PreMD Inc. (Part 1)

lukematt — Thu, 08 Jan 2009 03:12:25 GMT

Jeanine:

Thanks for your email. I've emailed a response to you.

Jeff

Re: PREMF: Corruption Surrounding PreMD Inc. (Part 1)

lukematt — Mon, 29 Dec 2008 07:31:09 GMT

jeaninexo:
LukeMatt has too much time on his hands. I own a lot of shares in Premf and there is nothing shady about this company or their dealings. Get a grip.

Poor Jeanine. I own a lot of PREMF shares, too. There are two differences between you and me.

1. I provided **concrete** examples of PreMD's questionable behavior, which you conveniently neglected to address. Instead, you provided us with a vague, unsubstantiated "there is nothing shady about this company or their dealings".

2. You obviously haven't worked for the same people as me....

Problem #1

Effective August 28, 2008, the American Stock Exchange (AMEX) suspended trading in the stock of PreMD Inc. (former symbol AMEX: PME, current symbol OTC: PREMF) and will initiate delisting proceedings.

Before the market opened on August 26, 2008, I had 1000 shares of PME in my joint account at TradeKing.

After the market opened, I tried to submit an online “buy” order on this joint account for 3000 more shares of PME with a limit price of $0.04. TradeKing displayed the following error message:

“For securities that are less than $2, we only accept online purchases of 5,000 shares or less. Please reduce the quantity of shares or call us at 1-877-495-5464 to place the order.”

Obviously, this error message is ridiculous because my order shows that I wanted to buy 3000 shares, which is less than 5,000.

I contacted TradeKing via the “Live Chat” service on their website. After I explained the problem to “Adam”, TradeKing’s representative, he replied:

Adam: Alright, you really shouldn't be getting that message.....we're working on getting that taken care of. In the meantime, you can give us a call and one of our brokers can help you with that.

At that point, I knew that TradeKing was pulling another dirty trick on me (see below for previous dirty tricks from TradeKing). I refuse to submit my orders by telephone; I did not open an account at an online brokerage company so I could place orders by telephone.

Clearly, somebody was trying to make it inconvenient for me to buy PME shares during the next-to-the-last day that PME stock would be listed on AMEX.

Idiots. They assumed I would only submit a “buy” order for PME on the joint account where I already held 1000 shares of PME. However, I have a second account at TradeKing (an IRA account).

I submitted the same order on my IRA account, and TradeKing accepted it. In a short time, my order was executed, and I obtained the 3000 PME shares.

I tried the same order again on my joint account, and the error message still appeared.

The fact that the error message appeared only on my joint account, not on other TradeKing accounts, shows that TradeKing had specifically programmed their software to target me.

Problem #2

On or about May 1, 2008, after Labopharm Inc. (symbol: DDSS) reported its 2008 Q1 results, I tried to submit an online “sell” order for 3000 shares of Labopharm that I held in my IRA account. TradeKing displayed the following error message:

“We are no longer accepting orders online for this particular security. Please call us at 877-495-5464 to place this order.”

I later posted a blog on TradeKing’s Community, questioning the cause of this error message.

TradeKing CEO Don Montanaro stated in a comment to my blog that his firm has received an alert about Labopharm through “a common data-sharing project in which we participate, along with the SEC, FBI, and other regulators and law enforcement officials”. The alert, according to Montanaro, flags Labopharm shares “for suspected or confirmed manipulation”.

However, another member of the TradeKing Community commented, “Strange...placed test orders for DDSS with Ameritrade, ThinkOrSwim, Fidelity - no messages.”

Finally, I sent an email to Labopharm, describing TradeKing’s claim about manipulation of Labopharm stock. Labopharm responded:

This came to our attention a few weeks ago, we looked into it with the help of NASDAQ. We are not aware of any manipulation of our shares nor is NASDAQ. We also have not been informed of any investigation on behalf of any regulatory body related to the manipulation of our shares.

Regards,

Jason Hogan
Labopharm Investor Relations

Clearly, somebody was trying to make it inconvenient for me to trade Labopharm shares online at TradeKing.

Problem #3

After I first opened my accounts, somebody at TradeKing would make random changes to my postal address in TradeKing’s records.

Then, TradeKing would attempt to send a letter to me. The postal service would return the letter to TradeKing as “not deliverable”. In response, without notifying me, TradeKing would block my accounts until I complained.

Here’s an excerpt from the final email message that I received from TradeKing:

Dear Mr. Bowyer,

This email is in response to your recent message sent to our Service email inbox. Thank you for your patience in awaiting this response.

I reviewed the account and we have now updated the address based on your instructions below. It appears as though we had the address line transposed.

Thanks

Dave Dusseault

David Dusseault | Director, Brokerage Operations

ddusseault@tradeking.com

Office – 877-495-5464

Fax 561-988-0131

5455 N. Federal Highway, Suite E, Boca Raton, FL 33487

Again, somebody was trying to inconvenience my online trading at TradeKing.

Who would want to inconvenience me?

Well, I previously worked for a “group” that is responsible for many international financial scandals. After I quit, the group was not happy, and they have been making problems for my family ever since.

If you have any questions or if you would like to receive an original copy of this message that includes screen shots, please feel free to contact me by email.

Jeffrey W. Bowyer (an American citizen)

jbowyer@seznam.cz

Re: PREMF: Corruption Surrounding PreMD Inc. (Part 1)

jeaninexo — Wed, 17 Dec 2008 00:18:07 GMT

LukeMatt has too much time on his hands. I own a lot of shares in Premf and there is nothing shady about this company or their dealings. Get a grip.

Jeanine

PREMF: Corruption Surrounding PreMD Inc. (Part 1)

lukematt — Sat, 11 Oct 2008 10:55:24 GMT

Management at PreMD Inc. (former symbol AMEX: PME, current symbol OTC: PREMF, TSX: PMD) has engaged in some questionable behavior recently.

Background

On May 30, 2008, PreMD announced that “the American Stock Exchange ("AMEX")…intends to delist the Company's common stock from the Exchange.”

Questionable Behavior

1. On August 13, 2008, PreMD reported its 2008 Q2 results. The results contained a grievous mathematical error that made the company look worse than its real condition. (Can you find the error? :-) )

I sent an email message to PreMD on August 14, 2008, specifying the error.

PreMD did not respond to my message. PreMD made zero effort to correct the error, such as issuing an updated press release.

2. Only one week later (August 21, 2008), PreMD announced that the company “received notice from [AMEX] that it intends to suspend trading in PreMD's stock on the AMEX effective August 28, 2008 and to initiate delisting proceedings.”

Regarding the future of PreMD's shares, the press release only stated “PreMD continues to trade on the Toronto Stock Exchange (the "TSX") under the symbol PMD.”

I sent an email message to PreMD on the same day, asking:

“If PreMD intends to send an email notice to shareholders, would you please explicitly state something to the effect of ‘PreMD will no longer be listed on any U.S. markets’ or ‘Following delisting, PreMD will be listed on the Pink Sheets’, etc.?”

PreMD did not respond to my message. PreMD did not send an email message to shareholders (although the company has sent email messages to shareholders in the past about other issues).

My Analysis

I’ve been through many delistings in the Czech Republic (1697+ of the 1700+ companies that originally appeared on the Prague Stock Exchange have been delisted).

The behavior of PreMD’s management is very similar to the sleazy actions of Czech management prior to a delisting. They release bad results and provide zero information in an effort to get shareholders to dump their shares. At ridiculously low market prices. (PreMD’s share price was $0.03 during the three days before AMEX suspended trading, and volume was 1.456 million shares with only 26.7 million shares outstanding!!! Somebody bought those shares for a cheap price.)

Questionable Behavior

3. On August 18, 2008, PreMD announced “the U.S. Food and Drug Administration ("FDA") has upheld their decision” that PreMD’s flagship product, PREVU(*) Point-of-Care (POC) skin cholesterol test, is not approved.

The timing of this announcement, of course, added to shareholder panic about the delisting.

However, I smelled a rat here.

AstraZeneca Pharmaceuticals LP already had a license agreement with PreMD for marketing and distribution of PREVU(*) in the United States. Based upon the negative FDA ruling, the AstraZeneca agreement should have been quickly terminated.

It wasn’t.

I became suspicious that the FDA ruling would be overturned on appeal **after the delisting**, which would explain why the AstraZeneca agreement had not been terminated.

I voiced my suspicions loudly and repeatedly. In response, the agreement was finally terminated on September 16, 2008 with this caveat from PreMD’s CEO: “Our relationship is such that I believe there may still be opportunities with AstraZeneca, especially if our appeal to the Commissioners Office is successful.”