Save Your Money Don't Gamble On Cryptologic! Shareholders With Cryptologic You Have Nothing To Lose Except Your Wealth.
Once upon a time investors hit on a great idea. They'd become rich simply by buying shares in a company that was a high-tech miracle. Its website was reported to be receiving 6 million hits a day.
It was to be a world leader in the near future, and anyone who backed the company by piling into the shares was certain to quintuple their money.
Glowing press releases talked of immense public interest in the company, how profit expectations were forecast to smash all previous records, and gave the impression the only suckers would be those who didn't buy the shares.
Month after month saw a volatile rise in the stock price. Further press releases followed, extolling the virtues and potential of this dynamic company. If you didn't buy the shares, you'd not only be a sucker, you'd be plain stupid.
Unknown to the investors, staff of this company were ex-criminals and drug addicts who consorted with Hell's Angels for fun.
They always had hangovers from the drugs and drink the night before. These recreational poisons also made them equally unable to keep up with pushy hookers (who would have accepted a lower fee in return for less hassle) or the accounts. The books were cooked, and the company began its inevitable decline.
From 30 cents to $ 10, then to $ 29 the stock climbed to new highs. All might have been well but the duped shareholders knew nothing about how deep the corrupted crooks were sinking.
The investors thought the people running the company had degrees in business management; they would have been horrified to learn that they were small time mob members, incapable of running an honest business.
Along came the RMCP at dawn. They smashed their way into company's offices and took away thousands of computer files and equipment.
The company's shares, which had briefly been worth more than $ 29, crashed. Hundreds of millions of dollars was wiped of the value of the stock in a single day. Shareholders were reeling.
Later the company would be taken to court by these same investors. They brought class actions to try to retrieve some of their missing millions.
A court found that money in the hands of the company was the proceeds of crime, and $ 6 million that had been frozen in a bank account was confiscated by the court.
The company was called Starnet Communications International. The big net they had cast trapped thousands of people in a worthless, junk company.
Starnet fled to Antigua, then changed their name to World Gaming plc, operating out of London. Now they are trying to raise the equivalent of junk bonds on the markets so they can entrap more victims.
Meanwhile another company that claims to be a world leader in Internet game development has been trying to step into just the same arena. This is the Toronto-based outfit, Cryptologic.
The way they run the company makes you think this is the new Russian Mafia. In our magazine, you'll find many reports and "eye-witness" accounts of what really happens when bettors, licensees, and shareholders have the misfortune to meet up with Cryptologic.
Most disturbing was the decision of Cryptologic's in-house counsel to resign after she discovered that licensees were being cheated. When she resigned, she stated that she believed the company was an organized crime operation.
If you are contemplating buying shares in this company, there are far better opportunities elsewhere.
Instead of buying into a worthwhile and growing company, you would simply be helping to fund a bunch of crooks who could easily end up in jail.
Our advice to potential investors is this: Stay away from these crooks. Forget about buying stock in Cryptologic and concentrate your mind on something else.
The only recommendation would be a "put" option in the stock as their shares could eventually go the way of Starnet's.
If you are already a shareholder, if you sell your stock now, you might also consider buying put options so you will make money, not if, but when the shares fall further.
