It's simply amazing that a company could put out such a misleading press release in this day & age. CAFE finally made a statement about their release from July 12 that sent the stock soaring:
Host America Corp. said Wednesday that while it believed there was an oral understanding between itself and Wal-Mart Stores Inc. that Host would begin surveying 10 Wal-Mart stores for the installation of its LightMasterPlus system, there is not, and never has been, a formal, written agreement with the retailer concerning the proposed survey nor is there any agreement for the installation of the light system. The survey was the subject of a July 12 press release that was followed by a significant increase in trading volume in Host's shares and stock price over the next ten days, the company noted. The Securities and Exchange Commission subsequently began a formal probe of the company and certain of its officers, directors and others and initiated a suspension in the trading of Host's securities. Host said Chief Executive and President Geoffrey Ramsey has been placed on administrative leave without pay pending the completion of an investigation by a special committee convened by the company. Ramsey has also resigned as chairman of the board. Chief Financial Officer David Murphy has been named acting CEO and president
I feel bad for the people who have been trapped in CAFE for all these weeks. I guess they'll have some consoloation from the fact that the stock is set to start trading again tomorrow.
Hey,
Thank you for that update
Hope not too many are trapped in that paper tiger
It just re-opened... down 68% to $4.50. I'm shocked that it's not trading back in the 2's