Other Directory Sites: SeekWonder | Directory Owners Forum
The following archive was created by hippie-mail 7.98617-22 on Sat Apr 10 1999 - 01:15:20
HyperReal-Anon (nobody@sind.hyperreal.art.pl)
7 Oct 1998 05:40:11 -0000
A couple of things I'd like to point out.
1. Alberta is well known (As is Vancouver) for it's blind capital pools. A blind capital pool allows a bunch of investors to take over a public shell company, invest between $100,000 to $300,000 while having no idea on how it is going to be used.
2. Blind capital pools frequently lead to stock SCAM's. This has been well publicized and both the Alberta Stock Exchange, Vancouver Stock Exchange and OTC markets are known to be littered with such companies. (Of the most memorable ones I know of a was company making 1 minute Microwave Pizza vending machines to be placed in bars and a pearl farm with a bunch of clams in a pool with sand)
3. Their web site provide TONS of links to Yahoo Finance Sections; Silicon Investor and other online rumour mills that are VERY often used to hype stocks (Most often through the use of pseudonyms)
4. The CEO Robert Kubbernus, has NEVER been involved in high tech. Simply stock promotion and money raising. (Bankers Financial Group; Bankton Finacial Corporation hmmmm....then Bristol Asset Management...hmmm that's a lot of B companies for one man's resume)
5. The company use to be known as EBIZ and changed it's name to JAWS and pulled this incredible 17 year in develoment encryption product out of nowhere. No cryptographer's name associated with it, no credible person associated with the company.
6. The only potentially credible association they have is with a Director of theirs named Art Wong, who sold Secure Networks and the Ballista software to Network Associates. Though it has not been unknown for some stock swindles to borrow peoples reputation by pretending they are associated or just paying them a lot of money for the name.
7. All of their press releases are stock hype press releases. They are all totally geared to hyping stock. Prove of this is in the following disclaimer they have to make
Certain statements in the press release are "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Such forward-looking statements made by
the company involve known and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of the company to be materially different from
the future results, performance of achievements expressed or implied by such forward-looking
statements. Such factors include, but are not limited to, risks associated with international
operations, dependence on licenses, governmental regulations, technological changes, intense
competition and dependence on management. Given these uncertainties, investors are
cautioned not to place undue reliance on such forward-looking statements. The company
disclaims any obligation to forward-looking statements contained herein to reflect any change in
the company's expectation with regard thereto or any change in events, conditions,
circumstances or assumptions underlying such statements.
With all their press releases. This is to Cover Their Ass because they know that the release is completely geared towards hyping the stock.
Ok, my final proof that this is all a stock SCAM!!!!!!
>From the web pages........
Isn't it just one developer who
created the software and what if
you lose him?
That is where the product started but it has taken
a team to get it to where it is today and no one
individual has control over the company or
product.
How long did it take to make
this product?
The original programmer has been working on the
product for about 17 years. Keep in mind,
software development is always a work in
progress with enhancements, new levels of
security, usability and speed.
How old is the inventor?
The original programmer is in his late 20's and is
considered a prodigy.
Ok, so let's assume that the original programmer turns 30 today. That means that when he was 13 years old he started working on a brand new form of cryptography. His parents weren't concerned that Little Johnny was working so hard on inventing new crypto systems, NONE of the programmers, hackers or security experts I've spoken to in Calgary ever heard of this person (I know a few people from the SNI scene, the OpenBSD team who do good crypto are all in Calgary) and no mention of little Johnny math genius (Inventing crypto systems at 13 who qualify him as a math genius) is ever mentioned in the press. Johnny (For lack of real name for what I presume to be a fictional person) continues to work on this new form of crypto and instead of going to University of Waterloo which is well known for a good cryptography group he decides to hide out, not talk to anyone and continue working on this algorithm. So after 17 years of work this lone prodigy programmer (Who started this alg!
orithm 17 years ago without any
standard textbook on encryption, no Hanbook of Applied Cryptography, no Applied Cryptography, no database of public crypto papers published on the Internet) finally meets some entreprising stock promoters who convince him to create a company to promote the technology. The whole time that he had this incredible algorithm and was watching fortunes being made at RSA, Cylink, PGP he never thought to mention to ANYONE 'Hey I've got this algorithm I've been working since I was 13, and it is the best in the world'. He never thought to do anything with the algorithm until the stock promoters see lots of public evaluations of companies such as Certicom, Network Associates, Security Dynamics and decides 'Hey let's find a math genius who has had a incredible algorithm under way for 17 years and make a company' and the two meet.
Hmm.......
A more likely scenario......
Stock Scam with promoters and some fancy ROT13, DES with big key or other ridiculous technology being passed off as real and promoted to all hell to get the stock up. As soon as they convince enough people and the promoters have gotten out, they then pop the bubble and everyone takes a loss. Then they move onto the next pearl farm scam.
If this stuff pisses us off, we should all write to EVERY SINGLE JOURNALIST who gives them ANY attention and point out the flaws of Snake Oil. We should contact each director they sucker into sitting on the board and point out how ridiculous the companies claims are and that they might be liable if it's a scam. (Can someone say Bre-X another Alberta stock scam).
Any partner they sign up should be made aware of the awful claims being made and how it goes against ALL KNOWN security/cryptography research and procedure. (ie. Public review, well known algorithms, disclosure)
Also (This will upset them the most) we can start taking these posts and CC'ing them or posting them in all the online stock rumour mills that they are using to promote the stock. Make potential investors aware that the product is most likely a scam since the company makes ridiculous claims and can't back them up. Make sure that these guys don't get rich off of a bunch of uneducated Internet investors who don't know to criticize the companies claim about encryption.
----------------------------
JAWS Technologies Wins Major Financing
[TORONTO, Ontario, October 5, 1998] Calgary, Alberta-based JAWS
Technologies has established a $7 million equity line of credit with Bristol
Asset Management of California, which exceeds JAWS Technologies' total
current capitalization.
JAWS L5 Data Encryption, which claims to be the world's strongest
security encryption software, addresses the increasing frequency of
unauthorised access to digital information and is the industry's first
encryption software product with 4096 bit key strength.
"We feel that this high level of participation is warranted due to the
company's exceptional market potential," Paul Kessler, President of Bristol,
said. "They have demonstrated rapid growth, world class products and
service offerings, and have driven to contracts and revenues in a very short
period of time."
"It is somewhat unusual for a financing to exceed the total market
capitalisation of a company, in this case nearly three times," said Robert
Kubbernus, President of JAWS Technologies.
"I think this demonstrates the merits of our performance to date and the
potential our financial partners have identified in our Company. This equity
line of credit will be employed as necessary, primarily to further sales
growth and expansion."
Last modified: Monday, 05-Oct-1998 14:15:55 EDT
The following archive was created by hippie-mail 7.98617-22 on Sat Apr 10 1999 - 01:15:20