StockLemonAide

2007-08-23T10:20:00.000-07:00

I don't consider myself to be a 'conspiracy theorist', by any stretch. I don't own, nor have ever worn a tinfoil hat. BUT.....

Things with our beloved HSOA have truly taken a turn for the weird. Just hours before HSOA confirmed my suspicions, and released the details of their Tampa project, Roddy Boyd of the New York Post put out another piece of trash on the company stating that a particular sub contractor had not been paid and the company owed him 50 large. If you are taking a course in journalistic ethics, or stock manipulation, this "story" (and it truly is a yarn) might serve as a good thesis paper:

(http://www.nypost.com/seven/08232007/business/builder_may_be_going_bust.htm)

I could spend about 10 seconds discounting this, but analyst Joe Giamichael over at Rodman and Renshaw said it best:

"Also of note to investors, there was another negative article published this morning in the Post regarding a contractor dispute. The article attempts to establish Home Solutions as illiquid and unable to pay its subcontractors. The company finished Q2 with over $4mm of cash, $51mm of accounts receivable - net of payables - and significant borrowing capacity remaining. The article is focused on a $50k contractor dispute, which should serve as a poor basis for drawing larger conclusions relative to the $50mm Q2 reported revenues and our $198.7mm FY 2007 revenue projection. Subcontractor payment disputes are very common to this industry and almost always revolve around the quality of work relative to the contract agreement. Investors should remain focused on the improving fundamentals, attractive valuation and growing construction services backlog."

The interesting thing here is that Roddy Boyd has attacked the company twice now:
(http://www.nypost.com/seven/07242007/business/retorer_business_roddy_boyd.htm)

So has Hank Greenberg:

(http://blogs.marketwatch.com/greenberg/2007/04/home_solutions_.html)

So has Jim Cramer:
"Home Solutions of America (HSOA): 'There's a monster short position ... I will not recommend this stock with the possibility ... of causing a short squeeze.'"

(http://seekingalpha.com/article/22452)

So has Nicholas Yulico, a cramer lackey at the street.com, perhaps best known for his 2nd degree felony charge that resulted from a college freak out where he and a buddy destroyed a couple of dorm rooms and severely beat some other students:

(http://www.thestreet.com/s/home-solutions-reveals-ugly-details/newsanalysis/homebuildersconstruction/10374797.html?puc=_tscs">http://www.thestreet.com/s/home-solutions-reveals-ugly-details/newsanalysis/homebuildersconstruction/10374797.html?puc=_tscs">http://www.thestreet.com/s/home-solutions-reveals-ugly-details/newsanalysis/homebuildersconstruction/10374797.html?puc=_tscs)

Ok, so what is my point? If these guys all agree about Home Solutions, it must be a really bad company, right?

What if all three of these guys had been subpoenaed by the SEC regarding previous consorted short attacks? We KNOW they run together, the SEC proved that by issuing Subpoenas. Where is the ax that Roddy is grinding this morning, just hours before the long awaited release of detailed information on the Tampa Project? Why is he so focused on HSOA?
(http://www.thesanitycheck.com/BobsSanityCheckBlog/tabid/56/EntryID/109/Default.aspx)
Maybe these media outlets are doing the bidding of a higher power? Maybe they know the other shoe is about to drop in the form of a payment of FIGA and the subsequent improvement of the balance sheet? Lord only knows, but when 3 guys who have been subpoenaed for previous work on beating down a company team up again on a different company, it HAS to raise eyebrows.

Im gunna need ALOT of tin-foil.

2007-08-16T15:25:00.000-07:00

Wah, Wah, Wah - Nobody can find the florida development. HSOA won't comment about it yet, citing confidentiality - probably a good idea until all of the t's are dotted and i's are crossed. Well, folks, I believe I have found the Florida property, and it appears legit, and it sounds like the zoning changes are either finalized or will be shortly.

From Stocklemon, dated July 17:

"It is now close to a month and a half after Home Solutions announced the $100 million contract in Tampa and we have finally made some progress in finding out what we believe to be the mystery project. After 6 weeks of searching up and down all over Hillsborough County for what might be this 600,000 square foot project, Citron believes we have finally found it. It seems to fit much of the criteria of what has been described to the public."

From Stocklemon, dated Aug, 1 2007:

"(and our favorite is) the whereabouts of the Tampa project, which we will now put in the same category as the Loch Ness Monster and Bigfoot. They are all merely legends that some swear by but no one can prove."

From Carl Cronan reporter with the Tampa Bay Business Journal:

(http://www.bizjournals.com/dallas/stories/2007/06/04/daily31.html)

"The Tampa Bay Business Journal, in checking with several commercial real estate sources, is yet to identify any similar projects to the one cited by HSOA that are either under way or are set to be announced within Hillsborough County in Florida."

Ok, Here we go. I believe that stocklemon actually got close on this one, but not close enough. Maybe they do know what I am about to tell you, but withheld it because this WONT make the share price decline.

In their July 17 hatchet job, they did link Brian Marshall of Fireline to a company called Craftmar. They then speculated that a 4 acre property was the site in question.

What I believe, is that Craftmar, is working with the "2006 Greater Tampa Chamber of Commerce Small Business of the Year", Genesis Group.

Here is an article describing the project:
(http://www.sptimes.com/2007/01/05/Brandontimes/Proposal_would_mean_c.shtml)

"Council Bay Farms wants to build 296 condominiums and 300,000 square feet of retail space, with another 335,000 square feet for office and warehouse uses. Before a zoning hearing master in November, Kevin Mineer of the Genesis Group described a big-box anchor tenant, with other shops and service businesses."

Here is where it appears that the Zoning gets approved:

www.hillsboroughcounty.org/htv/caption/scripts/zo070110.rtf

Here is where I think the actual land is, described in documents above as being at the SW corner of 41 & Leisly in Apollo Beach Florida (Hillsburough County). In the link below, the actual parcel is in the bottom right hand corner, so that you can see the beautiful water-front homes with private boat docks, golf courses, etc in the area.

http://maps.google.com/maps?f=q&hl=en&geocode=&q=Leisey+Road+&sll=27.830575,-82.287598&sspn=0.801529,1.2854&ie=UTF8&t=h&om=1&ll=27.754342,-82.418468&spn=0.012533,0.020084&z=16

So, HSOA acknowledged the relationship between Brian Marshall and another developer in the 10q. We are under the assumption that it is Craftmar - and we now know Craftmar and Genesis have a working relationship.

This property is being worked by genesis, and is the right size and in the right area to match the HSOA PR stating the initial details of the project. I say the project is the real deal - Genesis seems to be top notch, and everything appears to be flowing just fine. Another Stocklemon Myth Busted!!! (like that is so tough... lol)

2007-08-06T16:17:00.000-07:00

"Stay focused on the message not the messenger." - Andrew Left in his conferece call regarding the state of affairs at Home Solutions of America. Listen Here

How, exactly, do you expect us to do that Andrew? For example, in your report "The Sound of Silence...", Dated August 1, 2007, you state:

*****************
But is seems that this problem is just not limited to Tampa. Look what we found is going on in New Orleans under the watch of Roy Marshall: http://www.pier8condos.com/updates.php (read the July 20th entry)

“Effective Monday July 16th, the Board of Directors of Pier 8 terminated the services of RG America and Fireline. The reason was due to their ability to pay vendors working at Pier 8. The Board will not tolorate the issue of unpaid vendors in the future.”

Fireline not paying its vendors has already translated to lawsuits. As we can see from this link to the Hillsborough County Courts, this month alone Fireline became the defendant to 2 new lawsuits. This liquidity crunch can not be ignored by investors.
*****************

The funny thing about this, is you seemed to scroll right past this update, posted on the very same site:

(http://www.pier8condos.com/updates.php)
"07 - 27 - 2007

The Association has not made a formal agreement at this point in time to complete all repairs.

Michael Cox and Don English are still onsite pursuing the completion of all repairs. The Association paid all the vendors currently owed money this week in order to keep the work force on site."

So, Whats the deal, Left? You continue to post 1/2 truths, even when you had to have read that update, which was dated almost a week before you made your post. It is clear from that statement that money was owed by the association - when they paid, the subs got paid, and the HSOA boys are still on the job. Whats wrong, doesn't that fit your short thesis?

2007-08-03T13:03:00.000-07:00

Wow - Jeeze lefty, what happened today? With your groundbreaking release this morning, promising a 'conference call' on HSOA Monday, you would thing HSOA investors would be fleeing like rats from a sinking ship!! Couple that with a near 300 point decline in the DJIA, and you would think people would really be panicking!!

LOL Not quite!! HSOA closes up 3.05% at 5.40 on the day that Stocklemon threatens them with their bogus CC.

2007-08-03T10:48:00.000-07:00

Desperate times call for desperate measures.

Is ole' Lefty posting up his actual positions for the world to see?

http://www.tipstraders.com/tipster.php?id=414&lm=20

This website seems to be a place for traders to post up their trades and show the world how brilliant and successful they are. Here is the fine print from the bottom of the page:

"The picks above are, unless otherwise stated, entered by registered members of TipsTraders.com in accordance with our general methodology and respecting any proprietary rights"

Ok - so if this IS stocklemon tracking their own trades, it looks like they have 3 open positions in HSOA:

06/19-07 6.05 08/01-07
10/19-06 5.12 10/23-06
08/16-06 5.71 09/14-06

Assuming that these are equal weight positions, at the current trading price of HSOA which is $5.30, and considering Stocklemon's average price is $5.626 - they are up about .32 minus any interest they have been paying to hold the short position. Anyone who has watched trading over the past couple of days has seen very strong resistance in the $5.50 range. But just this week, HSOA got new Analyst coverage, and has rocketed up almost 25% off of recent lows.

Of course, stocklemon has been very active this week, posting another of their garbage reports, and in a stocklemon first, announcing they are going to hold a conference call to discuss "the current state of affairs at HSOA". LOL ARE YOU KIDDING ME?? HOW DESPERATE ARE YOU LEFTY? LOLLOLOLOLOLOLOL

Anyone who has spent more than 5 seconds in the past 2 weeks consuming any type of financial news knows that the big drag on the market right now is a 'credit crunch', which originated with the sub-prime home lenders. Lots of hedge funds are getting margin calls right now, and are liquidating assets for pennies on the dollar to stay solvent. It is truly amazing how quickly a leveraged trade can turn against you - and my speculation is that Left had lots of shares short sub $5.00 (that he is not tracking on tipstrader.com) against HSOA over the last 30 days, and I also would bet that HE IS HIGHLY LEVERAGED. With margin requirements being ratcheted up, my best guess is that ANDREW LEFT AND 'CITRON' ARE FACING A HUGE MARGIN CALL, AND ARE DESPERATELY UNDERWATER WITH A LEVERAGED TRADE THAT RAN AGAINST THEM WHEN HSOA RECEIVED NEW ANALYST COVERAGE ON MONDAY OF THIS WEEK.

Their only hope now is to hold a "conference call" that will drive the price down to a level where they can cover. HSOA reports earnings on Wednesday, August 8th, 2 days after the stocklemon event. Andrew Left knows that he is facing several catalysts that could easily return the stock back to the recent $8+ level - and if he cannot cover before that call, he will be toast. The analyst coverage was unexpected, and has most likely seriously jeopardized Left's ability to cover his short position.

Furthermore, STOCKLEMON IS REFUSING TO TAKE LIVE QUESTIONS DURING THEIR CONFERENCE CALL!!!!! WHY LEFT? WHY CANT I CALL IN AND ASK LIVE QUESTIONS? WHY CAN'T WE ASK ABOUT TOPICS THAT ARE RELEVANT TO US? WHY DO YOU NEED TO HAVE EDITORIAL APPROVAL ON ALL QUESTIONS THAT ARE TO BE EMAILED IN ONLY??

From the PR of the stocklemon 'conf call':

"Citron will also hold a Q&A period. Citron will answer all substantive question.
All questions must be emailed beforehand to questions@citronresearch.com"

Stocklemonaide has already proven that Andrew left is a LIAR and a THIEF. Now he, himself, has proven that he is a COWARD, and most likely desperately trapped in a leveraged short position, and facing massive losses.

Folks, I think it is time to SQUEEZE THE LEMON!!!

2007-08-03T10:41:00.000-07:00

Just a quick refresher course on Lefty:

1.) It seems Andrew Edward Left stole 6 checks when he left his position as CEO of detour media group, and cashed the for $25,000 the same week that stocklemon.com first appeared:

http://stocklemonaide.blogspot.com/2006/06/why-spend-your-own-money-when-you-can.html

2.) Andrew Edward Left was BARRED from the National Futures Association for
"Making false and misleading statements to cheat, defraud, or deceive a
customer"
http://www.nfa.futures.org/BasicNet/Details.aspx?entityid=0251031

Simple question - Why believe anything this guy says?

2007-07-30T15:36:00.000-07:00

What a long, strange trip its been…

Well folks, it has been about a year since I posted last. Everything was good there for a while. HSOA’s management dropped the ball big time in q4 06, and posted a horrible miss for the quarter. (http://www.marketwatch.com/News/Story/Story.aspx?guid=%7b18654CFB-0500-4690-88F0-22F3502EA752%7d&siteid=yhoo&dist=yhoo). Weird thing was, ole Leftty and Co were quiet on HSOA for months. Stocklemon changed their name to ‘Citron Research’. They also teased with an ‘Invest with Citron’ tab on their page that latter disappeared – google saved a copy though (http://www.google.com/search?q=cache:SIiwGy0R-zUJ:list.citronresearch.com/%3Fp%3Dsubscribe+'Invest+with+citron'&hl=en&ct=clnk&cd=3&gl=us&client=firefox-a). Lack of interest, perhaps? Or maybe it is the fact that their track record just flat out stinks lately with hated companies like IIG doubling in less than 12 months with citron bashing the whole way up. Or, maybe it is because Andrew Edward Left lost his “National Futures Association” membership for 3 years due to:

“ON FEBRUARY 13, 1998, A DESIGNATED PANEL OF NFA'S HEARING COMMITTEE ISSUED A DECISION AFTER A HEARING TO BRIDGES, VITELLO, DAYAN, BURSTEEN, ZAGER ZINNER, PARKS, GROSS, GETZ AND LEFT. THE PANEL MADE THE FOLLOWING FINDINGS AND IMPOSED THE FOLLOWING PENALTIES:

ANDREW LEFT -

THE PANEL FOUND THAT LEFT MADE FALSE AND MISLEADING STATEMENTS TO CHEAT, DEFRAUD OR DECEIVE A CUSTOMER IN VIOLATION OF NFA COMPLIANCE RULES 2-2(a) AND 2-29(a)(1). LEFT'S CONDUCT WAS INCONSISTENT WITH JUST AND EQUITABLE PRINCIPLES OF TRADE.

CONSEQUENTLY, THE PANEL BARRED LEFT FROM ASSOCIATION WITH AND FROM ACTING AS A PRINCIPAL OF ANY NFA MEMBER FOR THREE YEARS; ORDERED HIM TO TAKE AN ETHICS TRAINING COURSE; AND PLACED RESTRICTIONS ON HIS ACTIVITIES FOR TWO YEARS WHICH PREVENT HIM FROM SUPERVISING ANY AP AND REQUIRE HIM TO TAPE RECORD AND LOG ALL CONVERSATIONS WITH CURRENT AND POTENTIAL CUSTOMERS.”

http://www.nfa.futures.org/BasicNet/Details.aspx?entityid=0251031

Whats a guy to do? Start up a website, and try to STEAL YOUR MONEY by creating FEAR, UNCERTAINTY AND DOUBT, while SHORTING the companies that you invested your (hopefull) legally and hard earned dollars in.

2006-08-21T14:48:00.000-07:00

Wrong again!

If shorts were thinkin that C&B couldn't pay HSOA, they can start covering now:From the Friday CHYSE press release:
(http://biz.yahoo.com/bw/060818/20060818005397.html?.v=1)

///Charys' subsidiary C&B also announced the scheduled closing of a new $35 million revolving credit facility. The financing is in the form of a Senior Secured Revolving Credit Facility, which will provide up to $35.0 million to C&B, with Charys as the guarantor. Proceeds will be used to refinance certain indebtedness and the initial acquisition of C&B. In addition the Company expects that the financing will support future growth and development initiatives and facilitate the purchase of additional revenue generating assets.\\\

2006-08-18T14:50:00.000-07:00

Please excuse the technical difficulties... Or, Ooops, our lawyer just called.

The boys over at stocklemon.com were sure busy on Monday night. After the bell on Monday, HSOA released another round of record earnings. They blew away the estimate by over 50%, and after hours action took the stock up over 25%. Knowing that they had to do something NOW, the stocklemon boys hit the crack pipe and tried to discredit HSOA again on Tuesday morning. The story has since been pulled from their site - when you click on the archive link to the story, you are redirected to a story on CSHD. Perhaps their lawyer called?

Lets review stocklemon.com's latest hatchet job on HSOA (yes, I saved a copy):

"In the story we noted that insiders sold millions of dollars in stock at very high prices – on the heels of a highly misleading press release, in which the company trumpeted a “contract in New Orleans” to sell mobile homes. Turned out the counterparty to the contract was a company that Home Solutions itself had just established and funded, a fact that Home Solutions conveniently failed to disclose. The shareholder lawsuits predictably followed."

Well - in typical Stocklemon fashion, there are a couple of interesting things they forgot to mention here.

1.) In the original press announcement they refer to, HSOA did NOT provide any type of revenue guidance for the contract with ARH. When I read this press announcement for the first time, that told me loud and clear that the impact in FY06 would be minimal. Don't let the lemonheads fool you - despite their best efforts to convince the world otherwise, they are not that stupid (no really, it just isn’t possible for them to be THAT stupid).

2.) ARH had their grand opening today on 8/18/2006. Their website is now fully functional, with lots of floor plans and 3d renderings of the model homes. Visit thier website @ (http://www.amrenhomes.com/index.html)

3.) ARH is active in community charity programs. Think Stocklemon.com is???? (http://www.amrenhomes.com/community.html)

4.) Yes, some lawfirms were fishing around trying to find plaintiffs for class action suits. Too bad they couldnt find a lead plaintiff as of these postings:(http://biz.yahoo.com/iw/060818/0155334.html)(http://biz.yahoo.com/pz/060814/103772.html)

5.) HSOA did NOT 'Establish' ARH. They made them a loan for 800k that is fully disclosed in the current 10q: (http://www.sec.gov/Archives/edgar/data/855424/000100329706000346/hom10q1.htm)

"On May 24, 2006, the Company entered into an exclusive agreement with a modular housing sales agent stating it will provide installation services for modular housing in New Orleans and surrounding areas. In connection with the agreement, the Company agreed to loan a third party up to $800 in a note receivable. The note requires one balloon installment of all accrued but unpaid interest and all outstanding principal on August 17, 2006. The note bears interest at the lesser of (a) 7% on a per annum basis, (b) the maximum rate per annum permitted by applicable law."

So lets get this right - HSOA LOANS ARH 800k, gets at least 7% interest, and gets the exclusive rights to installation services for any home that ARH sells? Most companies DREAM of having contracts this good. I guess they could have made more money starting a website, lying about stocks, and then naked shorting them, but hey, I guess some people just have morals.

Ok, that myth is busted!! NEXT?

"Is history about to repeat itself?In the late afternoon of August 14, Home Solutions filed an S-3 registration for insiders to sell over 5 million shares of stock. Just two hours later, the company released a quarterly report that seemed decent at first glance, until you take a deeper look."

1.) Come on guys!! Lol - that is sneaky, even for you!!! "for insiders to sell over 5 million shares"? lol... The last transaction was for Frank F, CEO, to PURCHASE 100k Shares on the open market. Here is a link to the S3: (http://www.sec.gov/Archives/edgar/data/855424/000100329706000343/hsoaforms31.htm)

Myth Busted!! NEXT

"HOLD ON!! It appears as if Home Solutions is booking revenue for work that has not even been performed, notice the phrase “to be used…”This is furthered on the following page when we get a clearer understanding of why Home Solutions showed such great operating margins. As stated in the filings:“HSR of Louisiana generated higher margin fees associated with contracts to commit a portion of its labor force with its major recovery/restoration customer”Again we see the words “to commit”, thereby in the future. That explains the high margins. It is easy to have high margins when you book work that you haven’t performed."
1.) Uh - read the 10q there tough guy. 3 of the 43 million booked this year was for standby. Standby is common in the service industry - see the post below for more on this.

Myth Busted!!! Next??

"The company who they are booking this revenue with is C&B Services, which itself has been merged into an OTC BB company named Charys (OTCBB:CHYS). This is the $40 million customer who allows HSOA such terrific margins. Here is a look at the pedigree of the directors of Charys (parent to C&B Services):"

1.) After this, they went on, slinging mud a couple of people involved with CHYS and C&B services. What the hell is the point??? Even if CHYS goes under, and takes C&B with them, HSOA is STILL protected for any work performed as a sub. They simply file a lean on the properties that they did the work on. Maybe the stocklemon boys should focus on magazine companies, since they personally know how to run them into the ground - they obviously have NO understanding of the type of work that HSOA does.

Myth Busted!!! NEXT?

"Home Solutions is a rollup. Nearly all of its growth is due to acquisitions for debt and/or stock. With rollups, you have to be extra careful with the numbers. Since rollups intentionally grow fast through acquisitions, “Record Revenues” and “Record Earnings” alone do not provide a basis for record share prices. The key factor is dilution. A rollup will always show “Record Revenues and “Record Earnings” … at least for a while. But to justify higher share prices, those revenues and profits have to justify the dilution. The only way to do that is through gaining large-scale efficiencies and synergies – enough to offset the capital cost of the acquisitions – and then some. "
1.) Ok, so here they go ripping on HSOA for making some great acquisitions again. Who says that HSOA and Fireline wont achieve "large-scale efficiencies and synergies"??
2.) They then go on the "dilution!!!" tyrade. What they fail to tell you is that Fireline is bringing thier assets and A/R to the party. 28m in A/R to exact. It seems that this A/R is what HSOA will repay the debt they took out to buy Fireline with, which means they should be brining on 40m in rev per year with 10m ebitda for 11m in cash and 4m shares. They just bought this company for a multiple of .9x 1 year earnings. Most acquisitions are 4-5x. Hmmm. Yea. Sounds like dillution to me. Maybe the stocklemon boys have words that start with 'Dil' on the brain. Choose your own favorite. Doh!!

Myth Busted!!! NEXT???

"In our first report, Stocklemon questioned how this company can ever meet their target of $160 million in revenue for the year. Sad for investors that the company never seems to break it out, but we do know two things.HSOA has booked $43 mil in rev for the first half of 2006. How is the company going to generate $120 mil for the next 6 months?? Anyone ?1. $40 million is supposed to come from Charys.2. HSOA acquired Fireline, who supposedly did $20 mil in revenue for the first half of the year, yet HSOA never raised guidance to adjust to the acquisition. Are they losing $20 mil in other places??? "
1.) This is laughable at best. What the sourpusses are trying to tell you is that HSOA is lying OVER AND OVER again about guidance. They continue to re-affirm the number. So, what is the play here for HSOA??? Come out with a bogus estimate for the year, continue to re-affirm it, acquire another company, and then go out of business? We will know by the end of Q3, when HSOA promised to provide clarity on the impact of the fireline acquisition.

Stocklemon is basically saying that HSOA will go out of business before the end of Q3. I think they are wrong. They seem to be wrong about everything at HSOA though. I think the more likely story is they knew their GIANT short position was in SERIOUS jeopardy after the stellar earnings, and they had to make up as much as they could and release it before things could get out of hand. I further bet that they used that report to cover their short, and move on to greener pastures, like OIC, who they reported on days later. Now the retail shorts are the only ones left to feel the squeeze when HSOA ups guidance AGAIN this year.

2006-08-15T11:36:00.000-07:00

This is a repost of an item from an HSOA forum. I am simply reposting this because I thought it was interesting. I am not saying any of this is true or false, but it is food for thought. The post can be found here: (http://www1.investorvillage.com/smbd.asp?mb=4195&mn=4648&pt=msg&mid=283471)

Stocklemon Said: "In the story we noted that insiders sold millions of dollars in stock at very high prices – on the heels of a highly misleading press release, in which the company trumpeted a “contract in New Orleans” to sell mobile homes. Turned out the counterparty to the contract was a company that Home Solutions itself had just established and funded, a fact that Home Solutions conveniently failed to disclose."

FALSE. Company PR disclosed the SECURED loan to ARH. Company did NOT "establish" ARH.

Stocklemon Said: "The shareholder lawsuits predictably followed."

LOL. u mean those POS suits with no plaintiffs? LOL

Stocklemon Said: "In the late afternoon of August 14, Home Solutions filed an S-3 registration for insiders to sell over 5 million shares of stock. Just two hours later, the company released a quarterly report that seemed decent at first glance, until you take a deeper look.
Check This Out!!
If you read closely in the filing you will see this paragraph on page 21.
“The Company also generated revenues from one of its major restoration customers for services, including standby and mobilization of its labor force, to be used on specific projects as specified in its master services agreement with the customer. The agreements allow for billings up to $40,000 (40 million) for specified services, which are estimated to be complete during 2006.”
http://www.sec.gov/Archives/edgar/data/855424/000100329706000346/hom10q1.htm
HOLD ON!! It appears as if Home Solutions is booking revenue for work that has not even been performed, notice the phrase “to be used…”"

These idiots obviously have a problem with reading comprehension, and probably never graduated high school. What the excerpt actually says is that HSOA gets paid for "standby and mobilization of its labor force...." Obviously, if these folks on "standby and mobilization" status, by definition they are "TO BE USED." they are ON STANDBY, Duh!
Stocklemon Said: "This is furthered on the following page when we get a clearer understanding of why Home Solutions showed such great operating margins. As stated in the filings:
“HSR of Louisiana generated higher margin fees associated with contracts to commit a portion of its labor force with its major recovery/restoration customer”
Again we see the words “to commit”, thereby in the future. That explains the high margins. It is easy to have high margins when you book work that you haven’t performed."
The author tries to parlay his/her obvious error into another insidious bullshit claim, i.e., that HSOA is booking phantom income. What a joke! Once again, anyone with an 8th grade reading ability can figure out that the reference to "contracts to commit" is to those same contracts referenced earlier that pay HSOA for "standby and mobilization" of its workforce. this is not at all unusual in the disaster recovery and restoration services field. check with SGR if u doubt that...

Stocklemon Said: "The company who they are booking this revenue with is C&B Services, which itself has been merged into an OTC BB company named Charys (OTCBB:CHYS). This is the $40 million customer who allows HSOA such terrific margins. Here is a look at the pedigree of the directors of Charys (parent to C&B Services):
The CEO of CHYS is Bill V Ray Jr. Mr. Ray was the CEO of now bankrupt Able Telecom that was investigated by the SEC for accounting irregularities. http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/12-01-1999/0001086911&EDATE=
Able was best described by Manny Asensio in this series of articles
http://asensio.com/Reports/CompleteRecordCompany.aspx?CompanyId=103&CompanyName=Able+Telcom+Holding+Corp.&IsArchived=true
Morgan Ralph Delucia, who was investor relations for Able Telecom, is now investor relations for Charys.
Alec McCarty was a former director of Able Telecom is now a director for Charys.
The head of the audit committee for CHYS is Richard Mangiarelli, who was also the CEO of two publicly traded companies :
GBRC- now trading .011
http://finance.yahoo.com/q?s=GBRC.OB
CBCL- now trading .0043
http://finance.yahoo.com/q?s=CBCL.OB
Stocklemon would like to cross reference the HSOA to the CHYS filing but unfortunately, CHYS has submitted a late notice for their 10K.
http://www.sec.gov/Archives/edgar/data/845879/000114036106010718/0001140361-06-010718.txt"

LOL. these lemonshysters fail 2 appreciate that HSOA's historical numbers are audited, the SEC never penalized Ray for anything or recommended that he be prosecuted for anything, and -- MOST IMPORTANTLY (to borrow from SL: :HERE'S THE BEST PART!)-- with the Fireline acquisition, HSOA is large enough to bid and work jobs without C&B!!!!! who cares about C&B???
Stocklemon Said: "So this is the company HSOA is dependent upon for 25% of its annual revenue, most of which is anticipated to be undertaken in the second half of the year."
another FALSE statement. at no time has HSOA ever indicated that it is relying on C&B "for 25% of its annual revenue...."

Note that SL has no link to any such statement from HSOA mgmt (surprise, surprise...)
Stocklemon Said: "Stocklemon has serious doubt that HSOA will ever generate $40 million worth of real business from CHYS."

LOL. Yeah, SL's "serious doubts" are about as meaningful a commentary on HSOA as anything Alfred E. Neuman might have to share about the company.... LOL!

Stocklemon Said: "Furthermore, the status of the work that was recorded as revenue needs greater clarification, as it appears that the company has booked revenue for work not performed."

already exposed this lie above.

2006-06-22T12:51:00.000-07:00

Well, well, well, What do we have here? It looks like the boy(s) over at stocklemon.com crawled out from under thier rock today to attack another company. This time it is Medifast.

Here is an interesting tidbit. The AMEX Specialist who handles Medifast? Specialist #985

http://www.amex.com/?href=/equities/listCmp/EqLCCmpDesc.jsp?Product_Symbol=med

The AMEX Specialist who handles Home Solutions of America? Specialist #985

http://www.amex.com/?href=/equities/listCmp/EqLCCmpDesc.jsp?Product_Symbol=hom

The AMEX Specialist who handles Flight Safety Technologies? Specialist #985

http://www.amex.com/?href=/equities/listCmp/EqLCCmpDesc.jsp?Product_Symbol=flt

Stocklemon.com has only reported on 8 companies in the amex. 3 of them were handled by #985. 2 of them were handled by Specialist #896 (iig and ipa).

According to HOM's press release announcing the move from the AMEX over to the Nasdaq (http://biz.yahoo.com/bw/060615/20060615005529.html?.v=1), thier specialist was Cohen Specialist LLC - I am assuming that they are specialist 985.

But wait a second here. From the AMEX Weekly bulletin, dated July 16, 2004 (http://www.amex.com/amextrader/tdrInfo/data/wklyBulletins/2004/07162004wkly.pdf), Mr. Thomas G. McNamara, of Cohen Specialist LLC held badge number 896-M. That is the specialist number that was handling IIG and IPA, when they were attacked by stocklemon on 2/24/2005 and 9/22/03.

From the AMEX website:

Specialist
A floor member of an exchange who accepts primary responsibility for making a fair and orderly market in a security at all times the exchange is open for business. In general, a specialist will make a two-sided market and provide limited liquidity to other market participants.

Perhaps this should be:

Specialist
A floor member of an exchange who accepts large amounts of money from hedge funds to ensure they are able to illegally drive down the price of a particular stock. In general, a specialist will make a one-sided market and provide limited liquidity market participants on the wrong side of the company he is attacking for personal profit

Here is some more on Cohen: (http://www.asensio.com/Reports/ReportView.aspx?ReportId=682&CompanyId=146&CompanyName=Report)

Disturbed? Let the AMEX know!!

Trade Complaints Amex Listings (including Amex-listed issues, options, and ETFs) - Call the Customer Inquiry Hotline at 212-306-1381 or e-mail tradecomplaints@nasd.com

P.S. This discovery was made by someone over at the yahoo forum. I can't take credit for this one, but I can tell everyone about it :)

2006-06-14T09:42:00.000-07:00

Whats in a name???

ALOT of you people have complained about my 'handle' This is what is was supposed to stand for.

Welcome to Stocklemonaide!

2006-06-10T18:12:00.000-07:00

Howdy. Welcome to the wonderful world of Stocklemonaide! What is Stocklemonaide for heaven's sake? Long story, but hopefully I can get all of this information out there for everyone, because I find it VERY important!!!

So, you know what to do when life hands you lemons, right? Well, it isn't always that easy, especially in the stock market. You see, there is a website out there called Stocklemon.com. I can't tell you what kind of service they claim to be, because on their website, they don't really claim to be anything. When you go to their website, you see the current 'report' on whatever company they have their sights on at the moment, a link to see their 'scorecard', and a bunch of archived reports. They don't have a mission statement, and they don't post any information about the 'investigators' .

The funny thing is, they have a startling success rate. When you check out their report card you will notice that they report to have investigated 54 companies.

Here are the results according to that reportcard:

24 Grade A+: Company delisted, subject of regulatory action, stock halt and/or shareholder class action suits, stock collapse
18 - Grade A: Massive share price collapse of 75% or more since stocklemon report
9 - Grade B: Substantial share price drop since stocklemon report - 30% or more (But wait, isn't 75% more than 30%? - are they double grading these?)
1 - Grade F: Stock price appreciation
2 - Grade I: Incomplete

Holy Cow!! Wow, these guys never miss!!! LOL.... For the purpose of getting ready for what I am about to teach you, I want you to do the following before proceeding:

Get up and go to the person nearest to you
Tell this person 'I am psychic'
When the person asks 'How are you psychic?", Respond "You are going to have a really bad face-ache"
As they stand there, looking confused, punch them AS HARD AS YOU CAN in the face.
Say "I told you I am psychic" and walk away.
Come back and read some more about stocklemon.com

I guess I could have just said that Stocklemon creates self-fufilling prophacies, but that was a better visual of what seems to be the stocklemon business model. You, see, I am fully convinced that stocklemon is the Public Relations arm for either a single large hedge fund, or a network of them. These hedge funds perform a vicious "Bear Raid" on a stock by short selling the stock, and crushing the share price at the same time. This causes panic in investors, who sell out, assuming the worst. It also causes a lot of investors 'stop losses' to get triggered, and their stock is sold automatically when it goes below a certain price. This is especially bad, because if that order is a 'market order', and the stock is under the full attack of a large hedge fund, those orders may very well get filled at the low of the day. For more information on 'bear raids', check out this link http://www.resourceinvestor.com/pebble.asp?relid=12062.

Here is the current disclaimer on the stocklemon website, if you bother to read that far:

"At any times the principles of Stocklemon.com might hold a position in any of the securities profiled on the site. Stocklemon.com Will not report when a position is initiated or covered. Each investor must make that decision based on his/her judgment of the market."

Another ploy that Stocklemon is accused of is using the various financial message boards to create 'FUD' among investors. 'FUD' = Fear, Uncertainty, and Doubt. I will chronicle the startling relationship between Stocklemon's most recent target, Home Solutions of America, and the sudden appearance of numerous posters on the Yahoo Finance message board for that company. These posters, out of the goodness of their own heart, showed up just in time to 'warn' everyone of the pending doom, and the stellar track record of the Lemon. LOL, real humanitarians, no doubt. I'm sure they didn't hold a short position in the stock either, wink wink.

So, I am guessing that some of you are thinking 'Isn't this illegal'? Well, it seems that there is no clear answer to that question. Stocklemon.com Seems to have at least one active lawsuit against it at almost any time. Here is another blog that details a lot of the lawsuits against the Lemmonheads: http://search.netscape.com/ns/boomframe.jsp?.query=stocklemon&page=1&offset=0&result_url=redir%3Fsrc%3Dwebsearch%26requestId%3Dbd81eca091de2ab3%26clickedItemRank%3D15%26userQuery%3Dstocklemon%26clickedItemURN%3Dhttp%253A%252F%252Fsocialize.morningstar.com%252FNewSocialize%252Fasp%252FFullConv.asp%253FforumId%253DF100000005%2526convId%253D172120%26invocationType%3D-%26fromPage%3DNSCPResultsB%26amp%3BampTest%3D1&remove_url=http%3A%2F%2Fsocialize.morningstar.com%2FNewSocialize%2Fasp%2FFullConv.asp%253FforumId%253DF100000005%2526convId%253D172120

And here is another article that details the legality of short selling, in this case when a lawsuit is filed in conjunction with a short sale: http://www.legalreforminthenews.com/Reports/WLF-2-24-06-MAYahya.pdf

This is just a beautiful situation. Stocklemon.com Proves a trackrecord by attacking mostly pink sheet and otc stocks. They generate a following of opportunistic short sellers impressed by their 'results'. They sit behind a mask of anonomyous and thrash away at companies, while that the stock is shorted without mercy. The company then has to defend itself, is distracted from operations, and their ability to hit future goals could be compromised (i.e. the loss in market cap may prevent future M&A activity). And the law seems to be on their side, or at least ambivalent about it. What a country, eh? How did you make your 50 million today?

2006-06-10T12:21:00.000-07:00

Who the Hell are these guys?

The wonderful thing about stocklemon, is they get to move in the shadows, tossing stones at publicly traded companies. These publicly traded companies have to abide by SEC regulations, and are required to post regular updates with the SEC at www.sec.gov. Stocklemon, however is NOT in the public record. Well, almost.

While I am not one of those internet hacker types, by any means, I do know that a simple 'whois' returns the following:

Per the WHOIS database the stocklemon.comdomain name is registered to:

Bill Harris

8300 sunset blvd #308

los angeles, ca 90046

USPhone: 213-596-5761

Email: info@stocklemon.com

Email: stocklemon@hotmail.com

Ok, well that isnt especially useful. What is useful, however, is that they are always getting sued. A current lawsuit is open against them in Clark County, Nevada. Now, the clark county district court doesn't have an especially slick website, but if you want to see the case, click on this link:

http://courtgate.coca.co.clark.nv.us/DistrictCourt/asp/CaseNoEdit.asp?CaseNo=06A521546

Additionally, this was also reported:

The Salt Lake Tribune (Salt Lake City, Utah) (via Knight-Ridder/Tribune Business News); 4/14/2005Byline: Bob Mims Apr. 14--

"Andrew Left, the Los Angeles-based stock researcher who founded the site, finds that claim disingenuous, pointing to an on-site disclaimer accompanying items about iMergent that notes "the principles of StockLemon.com might hold a position in any of the securities profiled on the site." "I've disclosed that from Day One," said Left, who confirms he holds a "short" position on iMergent stock. "I take my personal research and put true information online on my Web log."

Ah Ha! Now we are getting somewhere. We have two lawsuits filed against an 'Andrew Left'. We have the Salt Lake Tribune quoting him, as well as saying he is in southern california. Hey, wasn't thier domain registered there?

Andrew Left is a pretty interesting name. I can't say I have ever met or heard of another person with that last name.

According to superpages.com, there are 15 people in the state of california with the last name of 'Left'. None with a first name of Andrew.

http://www.whitepages.com/10866/search/Replay?search_id=30101331303270493292&lower=1

If we bump that out nationwide, we come up with 300 people. 300 out of 300+ million people. Wow, that is a one in a million LAST name. There is an Anthony Left listed, but no 'Andrew Left'. Hmmmmm

http://www.whitepages.com/10866/log_feature/search_suggestion/search/FindPerson?name=left&name_begins_with=1&search_suggestion=3&query_type=1296&parent_search_id=40101351293070587650

Ok, so where do we go from here? Well, google, of course! One of the first things that pop up, is here:

http://www.findarticles.com/p/articles/mi_m5072/is_37_23/ai_78404920

"Faced with mounting debts, failed ventures and internal problems, parent company Detour Media Group Inc. is looking for a partner to help keep the L.A.-based fashion and lifestyle magazine alive."

"Since March, investors have filed to sell off nearly 1 million shares and the company's stock has been at less than $1 per share for more than a year. Detour President and Chief Executive Andrew Left resigned on Aug. 22, while former publisher Barbara Zawlocki left he magazine in April."

What? Hmmm, an Andrew Left, In southern california? Now we are getting somewhere. It seems that this 'Detour Magazine' was a publicly traded company. Here is his bio from the SEC Filing of the Proxy statement for the 2001 shareholder meeting:

"Andrew Left assumed the position of President and Chief Executive Officer in April 1999, and director in November 1999. Mr. Left received a Bachelor of Arts degree in political science from Northeastern University in 1993. Since his graduation from Northeastern University, Mr. Left managed his family portfolio, specifically in the stock market. During this time he developed an expertise in Internet companies and the Internet. Mr. Left devotes substantially all of his business time to the Company."

Wow, so we now know that this guy was the President and CEO of a publicly traded company!! COOL! He must be really familiar with all of that CEO type stuff, right? I bet he would make a great stock investigator!! Well, wait a second here. Stocklemon only reports on bad stocks, right? If the Andrew Left of Stocklemon is the same Andrew Left who was president and CEO of this fashion magazine, what would he know about MIS-managing a company? More than you might think ;)

Check out this filing: http://sec.freeedgar.com/displayText.asp...

"By notice dated March 30, 2000, the staff of the Salt Lake City DistrictOffice of the Securities and Exchange Commission ("SEC" or "the Commission") hasnotified the Company and its Chairman, Edward T. Stein, that it is recommendingto the SEC that an enforcement action be filed against both the Company and Mr.Stein relating to accuracy of certain of the Company's financial statements in1997 and 1998. Based on discussions between the staff and the Company's counsel,the Company believes that the enforcement action would be based on: (i) theimproper presentation of certain quarterly financial information; and (ii) thefailure to record in accordance with generally accepted accounting principlesthe proper compensation expense resulting from the issuance in 1997 of optionsto purchase 2,200,000 shares of Common Stock in 1997 to consultants. Accordingto the notice from the Commission, the SEC anticipates alleging that the Companyviolated Section 17 A of the Securities Act of 1933 and Section 10B of theSecurities Exchange Act of 1934 and various rules promulgated thereunder.Pursuant to the requirements of Section 12 of the Securities andExchange Act of 1934, the Registrant has duly caused this report to be signed onits behalf by the undersigned, thereunto duly authorized.DETOUR MAGAZINE, INC.(Registrant)Dated: August 31, 2000By: s/ Andrew Left --------------------------Andrew Left, President"

Ok, so what the hell does this prove? Well, not much. But speculation sure is fun. I find this little gem to be especially interesting. According to a statement released on March 19, 2002:http://www.sec.gov/Archives/edgar/data/9......

"Effective August 22, 2001, our President and CEO, Andrew Left, tendered hisresignation as an officer of our company and was replaced by Edward Stein on aninterim basis. Mr. Left will continue to consult with our management on aninformal basis."

Hmmm, I wonder what Mr. Left of Detour magazine went off to do? Sail around the world? Play some golf? Maybe look into a different business venture? I wonder when the first 'Report' was filed by stocklemon?

08.06.2001
StockLemon releases report on iJoin Systems

And there you have it. The first stocklemon report is released about 2 weeks before Mr. Left reportedly left the company. Of course, they didnt even report that until March of 02, it seems. 2 weeks is close enough for speculation.

2006-06-08T22:03:00.000-07:00

Here is an interesting order that came through on 6/6/6 for HOM - Home Solutions of America.

2006-06-07T22:20:00.000-07:00

Brief History of a Detour - Or, The right guy for the Job?

According to the form 10-ksb, filed on 12/27/1996 (http://www.sec.gov/Archives/edgar/data/935730/0001013596-96-000058.txt), the "ICHI-BON INVESTMENT CORPORATION" described itelf as follows:

"Ichi-Bon Investment Corporation (the "Company" or"Registrant") was incorporated under the laws of the State ofColorado on May 18, 1990, for the purpose of investments inbusiness and real estate projects. Other than issuing shares toits original shareholders, the Company never commenced activitiesrelating to its original business purpose. In May 1990, theCompany authorized the issuance of 500 shares to two persons innocence for services valued at $500. Thereafter, in August 1994,the Company's Board of Directors authorized a forward split of theCompany's issued and outstanding common stock, whereby 1,000 sharesof common stock were issued for every one share of common stockissued and outstanding. The Company presently has 500,000 sharesof its Common Stock issued, which are held by 10 persons. Also inAugust 1994, the Board of Directors of the Company elected tochange the Company's principal business purpose to those activitiesdescribed below under "Plan of Operation". As such, the Companycan be defined as a "shell" company, whose sole purpose at thistime is to locate and consummate a merger or acquisition with aprivate entity."

May, 1997, there is some funky stock exhange reverse merger mojo mumbo jumbo between Ichi Ban and Detour. (http://www.sec.gov/Archives/edgar/data/935730/0001013596-97-000123.txt)

Strange. On the proxy statement dated 02/28/2001 (, they identify Andrew Left as the president and CEO, as well as a board member. Weird thing is, he was never mentioned on a previous filing. Don't real companies have to say something when they get a new president and ceo? I may be mistaken here, if anyone would like to review the filings, please, be my guest!

Wait a second, maybe this explains it (from the same document above)!!!

"From a review of its available information, it appears that Messrs. Left and Nesis did not file applicable Form 3's with the Commission when they assumed their respective positions with the Company, but these reports were filed late."

Ok, ok, give the guy a break, will ya? I mean, heck, whats a few late filings between friends? 18 of the 40 filings shown on the SEC website (www.sec.gov) were NT's (Notification of inability to timely file ). Dont forget, these guys were running a fashion magazine! I mean how were they supposed to keep up with their filings with all of those models? I mean Fashion Models. Yeeooww.

So Anyway, what we know now, is that Andrew Left was pressie from April 1999 forward, right? Well, not really, because THEY NEVER FILED ANYTHING STATING THE CHANGE IN AN EXECUTIVE POSITION. Oh Well. Anyway, lets take them at their word, and see how he performed from April 1999 until he bailed in August 2001. I am going to cut through all of the numbers and focus on shareholder equity.

Quarter ending March 1999 (Quarter ending before Mr. Left assumed the helm) - Total Equity (5,638,317)

Quarter ending June 1999 (1st Quarter under Left's control) - Total Equity (5,903,201)

Quarter ending Sept 1999 (2nd Quarter under Left's control) - Total Equity (6,086,749)

Quarter ending Dec 1999 (3rd Quarter under Left's control) - Total Equity (6,838,803)

Quarter ending Mar 2000 (4th Quarter under Left's control) - Total Equity (6,375,893)

Quarter ending June 2000 (5th Quarter under Left's control) - Total Equity (6,601,245)

Quarter ending Sept 2000 (6th Quarter under Left's control) - Total Equity (7,500,071)

Quarter ending Dec 2000 (7th Quarter under Left's control) - Total Equity (9,067,588)

Quarter ending Mar 2001 (8th Quarter under Left's control) - Total Equity (9,068,464)

Quarter ending Jun 2001 (9th Quarter under Left's control) - Total Equity (9,883,455)

Well, crap. That was quite a run. Wonder what happened to the stock price while he was on board?

Quarter Ended High Low

March 31, 1999 $0.47 $0.18

September 30, 2001 $0.165 $0.025

Andrew Left's salary for 2001: $152,656

I guess that is why this happened:

http://www.sec.gov/Archives/edgar/data/935730/000101359602000031/fm10k_12-01.txt

"In February 2002, we commenced an action against Andrew Left, our former President, which action has been filed in the Superior Court for the State of California for the County of Los Angeles, Case No. BC269050, for the recovery of approximately $25,000, plus costs, interest and exemplary and punitive damages.Our complaint alleges fraud and deceit, negligent misrepresentation, breach of fiduciary duty and unlawful monetary conversion. As of the date of this Report,our complaint has been filed and we are awaiting the filing of an answer. While no assurances can be provided, we are optimistic that we will be successful in this matter."

The company also had to file several ammended returns, and they did so with in 45 days of Mr. Left leaving the company. Detour Media group filed one more SEC report, a year later, in August of 2002. Another "Notification of inability to timely file Form".

If, and I stress the word if, this is the same Andrew Left who how runs stocklemon.com, they found the right guy for the job, in my humble opinion.

2006-06-06T13:16:00.000-07:00

Why spend your own money, when you can steal it from your comany?

Wow. Running a magazine is tough work, huh? Well, what the hell do you do after losing your company 5 million dollars in 16 months? Here's a crazy theory - how about steal $25k to start up your own website, and fund a short attck on your first victim?

A judgement was filed against Mr. Left on August 16, 2002 for the full amount sought in the case.

According to Stocklemon's own reportcard (http://www.stocklemon.com/files/051021/reportcard.pdf), ijoin systems went from 9$ to .0001 cents. So, just for speculation, lets 'pretend' that Mr. Left took the $25k he stole from Detour, and spent $2500 to start up stocklemon.com. The other $22,500 would have let him go short on 2500 shares of ijoin. At a profit of $8.999 per share, the stolen money from Detour could have turned into his 'startup money of $22,500 into $45,000.

2006-06-06T00:25:00.000-07:00

How much is Left? (worth)

Lets play a game, and backtest stocklemon's reportcard, using the $25k in stolen loot from Detour. All stock quotes here provided by bigcharts.com. All fees excluded, and we will pretend he did NOT use margin. All Shorts on the open, covers on the close.

Aug 6, 2001. Go short on IJoin Systems (IJON) with $22,500. Ijon opened @ 9.15, resulting in 2459 shares short.

Aug 20, Cover the short @ the close @ 4.15. Congrats, you just turned your stolen 25k into $34,795.

Aug 21, 2001. Go short on Junum, Inc @ 4.00 resulting in 8698 shares short.

Aug 30, Cover the short @ the close @2.00. Congrats, you just turned your stolen 25k into $52,155.

Aug 31, 2001. Go short on Xaibe, Inc @ 6.00 resulting in 8692 shares short.

Sept 16, 2001 Cover the short @ the close @3.00. Congrats, you just turned your stolen 25k into $78,232.

Sept 17, 2001. Go short on MAAX @ 3.15 resulting in 24825 shares short.

Nov 14 2001 Cover the short @ the close @1.35. Congrats, you just turned your stolen 25k into $122,936.

ok, screw it - this will take forever and these historical quotes on otc stocks are a pain to find. lets just say he averaged 25% per trade. Mr. Left would now be worth $3,848,781,182.53. Yup, thats 3.8 BILLION, with a B. Ok, I'd bet there was the occasional hooker and crack rocks, but you get the idea. They claimed that they only missed once, and they cut a 440m dollar market cap stock (HOM) in half in one day. These guys have some serious bank behind them.

From Websters.com:
1 entry found for ill-gotten gains.
ill-gotten gains
"Benefits obtained in an evil manner or by dishonest means, as in They duped their senile uncle into leaving them a fortune and are now enjoying their ill-gotten gains. [Mid-1800s]"

Shall I quote some case law? Ok, I shall:
From a 1998 case in California (http://caselaw.lp.findlaw.com/cgi-bin/getcase.pl?court=9th&navby=case&no=9910404)

"In United States v. Stoddard, 150 F.3d 1140, 1147 (9th Cir.1998), this court implicitly considered whether restitution ofprofits from lost corporate opportunities was authorized by the VWPA. In Stoddard , the defendant, an official of a sav-ings bank, misappropriated $30,000 from an escrow account and used the money to fund two real estate purchases. 150F.3d at 1142-43. The defendant later sold the properties at a profit. Id. The district court ordered restitution in the amount of $116,223, apparently encompassing the defendant's profits from the real estate transactions."

Think the former Detour Board would like to hear about this?

2006-06-01T17:25:00.000-07:00

stocklemonaide.blogspot.com contains the author(s) own opinions, and none of the information contained therein constitutes a recommendation by the author(s) that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. All information on stocklemonaide.blogspot.com should be considered speculation, and not fact. Although we try to provide as much publicly availiable data as possible, we are not responsible for the accuracy of any information provided.