After "first hearing" about his penchant for pushing garbage upon an unsuspecting public, Fox Business Network, an entity of News Corp., yesterday finally fired penny stock pimp, Tobin Smith, a network contributor and regular guest on Fox's Bulls & Bears program. FBN cited his current promotion of Petrosonic Energy, Inc ( PSON ) a piece of cow dung, with zero cash and a book value of 3 cents, but currently trading in the high .70s, thanks in part to Mr. Smith's $50,000 paid endorsement.
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Penny Stock Pimp
Tobin Smith |
Smith's contract was purportedly terminated under the network's contributor policy, which states that "no contributor to FBN, nor his/her firm, and/or family members are allowed to accept financial consideration of any kind whatsoever to issue research, advertisements, or to otherwise promote individual stocks or securities." On Tuesday , The Wall Street Journal's MarketWatch reported that Smith, in a 20-page news mailer, pimped PSON .
FBN and MarketWatch's sudden revelation comes in spite of the fact that Smith has pushing the stocks of intrinsically worthless companies for years, through his company, NBT Equities Research, which offers investor relations services for small companies, for payment. Each of Smith/NBT's clients have been the subject of massive Pump & Dump campaigns, shamelessly using Smith's FBN gig as an offer of credibility. Just a few of the many stocks Smith has pimped over the years, resulting in millions of dollars in investor losses, are: Western Graphite, Inc. ( WSGP ), IceWeb Storage Corporation ( IWEB ), Velatel Global Communications ( VELA ), and Replicel Life Sciences ( REPCF ),
This website calls out Fox Business Network on it's claim that it has only now first heard about Smith's stock pimping business, as we have sent numerous proofs of Smith's breach of his contract to FBN producers.
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