Shares in Avitech Lifesciences Inc (USA)

Mike_Emsley · 15 May 2007 at 9:44PM

I already own 2500 shares in Avitech (code - avlf) which I have held for nearly 1 year. They are 'S' regulated shares which means they can't be sold for 1 year after purchase. They are currently traded in Europe on the Frankfurt S/Exch (code - RQE) - latest price 7.7 euro (approx $10) - Bloomberg.com

I have been approached by a Canadian agent for the company with an offer of top up shares at $1 direct from the company - offer closes April 25.Have contacted the company direct and the offer seems genuine - also, company officials on their website match those on my share certificate.

This all seems too good to be true. Is it? Why would they do this? Is it a scam? Help!

cheerfulcat · 16 May 2007 at 11:37AM

Yes, it's almost certainly a scam. In fact, the shares you already own may be a scam too - have a look here. There's a mention of them on this thread, as well ( scroll down about halfway ).

Mike_Emsley · 16 May 2007 at 2:07PM

Many thanks for quick reply. The links you gave have been very helpful. I think my best bet is to try and sell the shares I already hold. Thanks again.

cheerfulcat · 16 May 2007 at 2:53PM

Oh dear...to be honest, I think that you may have problems selling them ( I hope that I'm wrong, though ). Have a read here. Just out of interest, how did you come by these shares?

alertme · 21 May 2007 at 7:43PM

I think i have been conned, i know i've been CONNED. I was cold called by a company called Lehman consultancy. They told they got my contact details from a site i added my details requesting way of increase muliple streams of income. I thought it was genunie Yeh! stupid but you live alearn. Anyway i parted with £1595 for shares in Sunrise Energy Inc, which i watch very closely on bloomberg. I have watched it increase slowly on Bloomberg as referred by Lehmans.

I did not think anything of it, thought i was onto a good thing. Telling the family and friend. Until got a call from a loud talking Candian man who informed me that inorder to maximise my profit I should invest in Avitech (code - avlf).

This alerted to somthing not right here, as i have not rec'd my certificates from the 1176 shares in sunrise energy inc yet.

\it was then I decided to research and found you guys.

Thanks to you all, i will save the savings i have and i am not going to purchase anymore from them. But what do i do about the shares i have brought, although i still haven't got the certificates.

How do i approach them, they have called me about 15 times 2day.

Please advice me

Cheers - Alertme

cheerfulcat · 22 May 2007 at 4:43AM

alertme wrote: »

Thanks to you all, i will save the savings i have and i am not going to purchase anymore from them. But what do i do about the shares i have brought, although i still haven't got the certificates.

How do i approach them, they have called me about 15 times 2day.

Please advice me

Hi, alertme,

I'm glad that you have been spared from another con. As to dealing with boiler rooms ( the people who are 'phoning you ), I would just hang up on them. You might like to have a look at the Motley Fool's scams board, too - ( LINK ).

alertme · 22 May 2007 at 8:59PM

Thank you for responding to me i really appreciate that CHEERS. Can you advise me on what i can do with the shares i have already brought those above?

cheerfulcat · 23 May 2007 at 4:56AM

Hi, alertme,

Frame them and hang them in the loo as a reminder, is all I can suggest. A swift google brought up this cease and desist order...doesn't look good, I'm afraid.

tmcat · 2 June 2007 at 10:29AM

Hello Alertme, I too have been involved in this. I bought £1595 shares in Sunrise Energy to then be told that I need to buy shares in Avitech Life Sciences. I feel trapped by this and am not sure what to do next. I had doubts from the begininng but decided to go ahead anyway. (It seems like a bad decision) The company name was Asscociates Financial Advisors which was different to the one you have quoted. I will check them out with the FSA on Monday. Have you any updates from your last note below? It is good to dicuss this with somenone in the same situation. Thank god I read this before I went ahead and spent more money.

alertme wrote: »

I think I have been conned, i know i've been CONNED. I was cold called by a company called Lehman consultancy. They told they got my contact details from a site i added my details requesting way of increase muliple streams of income. I thought it was genunie Yeh! stupid but you live alearn. Anyway i parted with £1595 for shares in Sunrise Energy Inc, which i watch very closely on bloomberg. I have watched it increase slowly on Bloomberg as referred by Lehmans.

I did not think anything of it, thought i was onto a good thing. Telling the family and friend. Until got a call from a loud talking Candian man who informed me that inorder to maximise my profit I should invest in Avitech (code - avlf).

This alerted to somthing not right here, as i have not rec'd my certificates from the 1176 shares in sunrise energy inc yet.

\it was then I decided to research and found you guys.

Thanks to you all, i will save the savings i have and i am not going to purchase anymore from them. But what do i do about the shares i have brought, although i still haven't got the certificates.

How do i approach them, they have called me about 15 times 2day.

Please advice me

Cheers - Alertme

Cook_County · 2 June 2007 at 3:36PM

You can speak with your local trading standards office or the police given that you have been a victim of crime. The police may be tracking down the culprits through Interpol; so I would start with them.

Ian_W · 2 June 2007 at 5:51PM

There was a piece on BBC's Working Lunch this week about boiler room scams - which this sounds like - with the police asking victims to contact them:
Det Ch Insp Cowan has urged anyone who thinks they may have been a victim of boiler room fraud to report it to their local police, and request to have their details passed on to Operation Archway.

Article at:
http://news.bbc.co.uk/1/hi/programmes/working_lunch/6692937.stm

Shares in Avitech Lifesciences Inc (USA)

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