In the past, I've written about mPhase Technologies (OTC: XDSL), an obscure penny stock that has been touting its technology on YouTube, and has hired Jonathan Lebed, who settled stock manipulation charges with the SEC as a teenager, to pump its stocks.

Oh, and the CEO, Ronald Durando, recently signed a consent decree with the SEC and agreed to forfeit $150 thousand in gains derived from an alleged pump-and-dump involving a now defunct company called PacketPort.

Given that series of red flags, why have investors given mPhase, a company with a long history of big losses, a market valuation of nearly $25 million? At least part of it probably stems from the companies much-hyped research it is conducting at Bell Labs.

Continue reading Beware of penny stocks touting big name lab connections

Beware of penny stocks touting big name lab connections originally appeared on BloggingStocks on Sun, 16 Dec 2007 13:10:00 EST. Please see our terms for use of feeds.