BioMedReports.com’s Co-Founder Linked To Stock Promoters, Right After They Called Me A Nazi

UPDATE: I have edited the post since Havrilla has emailed me this explanation of his relationship with the stock promoting Proactivenewsroom sayng he basically only manages their subscription services but does not get compensated to write content….disclaimer from a few days ago aid he did get compensated….hmmmm, very questionable still to have ANY link, whether compensated or non-compensated to paid stock promoters IMHO:

I am not employed by ProActive and have not or will not receive any compensation from either ProActive or the public companies I have written about In exchange for managing the News Room website, I am able to promote my subscription services such as the FDA Calendar and a new index-based investing service that will be launching soon along with Investars YOU website. For this reason, I am not paid by ProActive or the public companies that I cover, but use the various websites and articles to promote my subscription services. The disclaimer language referenced in the article by Tim Sykes was changed because others are now contributing articles at the News Room website and I am not responsible for any of their content or compensated to review or edit this information as managing editor as originally contemplated to avoid any potential or perceived conflicts. In addition, ProActive and BiomedReports.com have no formal or economic relationship of any kind. The only connection between the two websites is that I contribute content and manage subscription services at both sites.

In response to my post asking whether BioMedReports.com pumped a biotech penny stock, they were gracious enough to tease me with an article entitled “Timmy Needs A Time Out” and saying they were forwarding my post to their lawyer

In the article you see below, they basically compare me to spreading propaganda like Nazis, argue that IRBS is not a bad stock, they did not get compensated for picking it…and that it’s not good to trust people like me since I sell instructional DVD packages.

Get ready for the circus:

Written by M.E.Garza
Thursday, 04 February 2010 01:12

Those of you who joined us in yesterday afternoon’s chat session will love this. It is a classic example of what we were talking about.

The classic war between the Bulls (our team) versus the Bears.

You know you’ve arrived when the shorts come after you time and again trying to slay your credibility and work without a single shred of proof, truth or evidence. Then they start quoting each other in hopes that if they repeat the lies enough times people will start to believe them. After all, it worked in Nazi Germany, no? Check this little jewel out:

We forwarded it to our lawyers to see if we have a case for libel and just for kicks to the CEO of the company who “paid us.” What an absolute joke!

By the way, the CEO told me he’d be dropping him a note to educate him a bit.

These guys are either CLUELESS or just plain stupid.

Show me one of the 2% of stocks that run up on good news or coverage suddenly and don’t give up roughly 50% of their gains.

Read my lips, Timmy… IRBS is a winner.

If you don’t believe our bullish “enthusiasm” now, you soon will.

Even his own sample chart shows the company trading at nearly double where they were when we first covered them.

In fact, I’ll bet him a head shave that company will be trading even higher than it is very soon. Think he’d dare to take us up on that bet?

Guys like these (and their DVDs) are the ones you want to run away from as soon as possible. They run off at the mouth and think that just because they’re dirty everyone else is too.

Has the Wall Street Journal or Dow Jones ever quoted any of their stories, I wonder?

I, for one, am hoping they’re short the last stock we profiled (HDVY) right about now.

The problems I have with their article:

1. Any stock with a 5-year chart like this is rubbish and to suggest otherwise is naive and dangerous…revolutionary medical blah blah blah, never believe penny stocks, let alone biotech penny stocks, let alone websites like BiomedReports.com whose co-founder has a relationship with a stock promotion company.

irbs5

2. Getting quoted in the WSJ or any other financial media outlet isn’t bragworthy…nobody understands penny stock corruption and that’s why you get quoted…although if you insist, you can see all my press here and it dominates your “as quoted in the…” BS…you’ll see that unlike you I actually have a public track record…and the Dow Jones Newswire compared my book An American Hedge Fund to Reminiscences of A Stock Operator…I’m the only REAL guy in this space and you just screwed up bigtime messing with me.

3. Rip on instructional DVD makers all you want, when those DVDs outline how stock promotion works and how it effects stocks…you might want to actually watch them before you criticize…too bad you’re not smart enough to realize this.

4. As stated on their About Us page, they list:

BiomedReports was co-founded by Mike Havrilla and M.E. Garza in early 2009. Both were successful traders and investors who had historically made some of their best trades in the healthcare/biotech sector. They decided to join up to share their knowledge and expertise about the sector with other investors.

Mike Havrilla is an index developer, pharmacist, writer, and Co-Founder of BiomedReports.com with experience that includes online investing since August 1997 and writing for investors since April 2007 with a focus on the healthcare sector and small / micro-cap stocks. Mike holds Doctor of Pharmacy (2003) and Bachelor of Science (Biology) (1998) degrees from the University of Pittsburgh and worked in the pharmaceutical industry for Wyeth prior to pharmacy school. He is also an avid runner (50-75 miles per week) since 1992 and has completed 19 marathons with a personal best time of 2 hours, 54 minutes for the 26.2 mile race.

Strangely enough, they omit the fact that Mike Havrilla is managing editor of Proactive Newsroom whose disclaimer shows compensation by several of BioMedReports.com featured stocks

Quantum Immunologics (QI) maintains a business relationship with ProActive Capital Resources Group, LLC (“ProActive”) whereby ProActive is fairly and appropriately compensated for providing business and consulting services such as the publication of informational reports, ProActive News Room website content, and other related digital media content.

Waste2Energy Inc. (WTEZ) has retained ProActive Capital Resources Group, LLC, an affiliate of ProActiveNewsRoom, on a consulting basis to provide certain Investor Relations and Public Relations services. For such services, ProActive is to receive $5,000 per month for 6 months, plus 100,000 restricted shares of Waste2Energy common stock.

Careview Communications (CRVW) has retained ProActive Capital Resources Group, LLC, an affiliate of ProActiveNewsRoom, on a consulting basis to provide certain investor relations and public Relations services. For such services, ProActive received 80,000 shares of restricted common stock of CRVW.

Access Pharmaceuticals (ACCP) has retained ProActive Capital Resources Group, LLC, an affiliate of ProActiveNewsRoom, on a consulting basis to provide certain investor relations and public relations services. For such services, ProActive receives $5,000 per month, and has also recieved 35,000 warrants to purchase restricted shares of common stock.

Keryx Biopharmaceuticals (KERX) has retained ProActive Capital Resources Group, LLC, an affiliate of ProActiveNewsRoom, on a consulting basis, to provide certain investor relations and public relations services. For such services, ProActive is to receive $4,000 per month for 6 months.

The current webpage makes no mention of Havrilla’s connection to Proactive Newsroom, but his name was just deleted from that page as Bing cache allows us to see what it formerly said:

The content appearing on this website or in related publications is the sole responsibility of the respective author(s) and Mike Havrilla serves as Managing Editor for the website. As of January 2010, Mike Havrilla receives compensation from ProActive on an independent, consulting basis to serve as Managing Editor for the publication of informational reports, ProActive News Room website content, and other digital media content, but has not and will not receive any type of compensation or other incentive in exchange for providing recommendations in any publications or reports.

Hmmm, Havrilla supposedly ONLY manages the subscription services on both the stock promoting and non-stock promoting site, but he’s also written on Seeking Alpha (who I’ve ripped on in the past for not doing their due diligence, …bigtime business error Jackson) and BiomedReports.com bullish articles on ProactiveNewsroom clients KERX (HERE, HERE, HERE), ACCP and HERE, CRVW (HERE) disclosing that he’s long, but not disclosing this somewhat conflicted relationship

Conflicted writers like Havrilla aren’t even worth my time, I leave it up to the SEC to do more digging, although I doubt anyone will.

BiomedReports always says “BiomedReports is not paid or compensated to report news and developments about publicly traded companies.” which given that Havrilla is co-founder of supposedly righteous BiomedReports.com and managing editor of Proactivenewsroom which these companies DO pay and compensate, this is clearly questionable.

Long story short, recognize that these ProActiveNewsroom-compensated companies have been featured repeatedly on BiomedReports.com and Seeking Alpha and the deletion of Havrilla’s name from ProActiveNewsroom’s disclaimer in just the last few days shows they were worried about me finding this info.

So, no Garza, Havrilla & Co., I’m not like Nazis in Germany spreading propaganda, that’s you and you’re projecting on me. I disclose my specific position, entry, exit and outline my entire strategy (and superior track record…where’s your track record you bums!), never taking $ from companies, never having any affiliated companies, only making $ from my ever-so-useful DVDs and 4 newsletter subscriptions.

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  • ptabisz

    Excellent digging, Tim. These scumbag pumpers have bamboozled thousands of innocent investors, including myself at one point, with their promotion of turds like CTIC, HEB and CVM. Thanks in large part to your blog and my TimAlerts subscription, I have properly grown to become suspicious of these kind of outfits. Your research here confirms your often-repeated message not to trust anyone in the finance industry. You should forward this along to Adam Feurstein, the Street Sweeper, and the SEC.
    And these clowns even charge $20 for a monthly “premium” subscription ??!!! I guess that gets you access to Garza’s premium rants, like the one you exposed here, and to their “premium members-only” pumps.
    Ptabisz

  • http://www.timothysykes.com Anonymous

    Thanks, already forwardeed to Adam and Melissa…leave the SEC out, I love these pumpers and want them to continue so I can short their junk!

  • http://www.reapertrades.com/ Michael Goode (aka Reaper)

    Great post.

  • Anonymous

    WRONG! Havrilla was one of the founders but is no an owner and only contributes to the site. The reason the lawyers haven’t contacted you- yet- is because they’re preparing a lawsuit I’m sure. Go dig again!

  • http://www.timothysykes.com Anonymous

    then why was havrilla’s info deleted on proactive’s website? PS take this article on KERX havrilla penned just 4 days ago on biomedreports.com…no disclaimer that he is managing editor of proactive which is getting compensated $4,000/month by kerx

    http://biomedreports.com/articles/most-popular/27884-keryx-biopharmaceuticals-nasdaq-kerx-responds-to-erroneous-report-about-planned-phase-iii-study-for-patients-with-colorectal-cancer.html

  • http://www.mvptexas.com MVPTexas

    ZZZZZZZZZZZZZZZZZZZZZZZZZ

  • no disclousre

    Tim how do you know that Havilla is getting compensated $4000/month, is it written anywhere, it will be great if you post a link or something . . . I am really suspicious about biomeds right now. . .

  • http://www.timothysykes.com Anonymous

    proactive gets $4k/month and $5k month from the companies listed on http://www.proactivenewsroom.com/disclaimer/ havrilla now says he takes no compensation from proactive although the disclaimer the other day said he did….perhaps they want to get rid of the conflict ofinterest?

  • andrew

    tim: please do not stop until you bring these people down, i agree. they are pump and dump masters.

    once again, i beg you not to stop until they are brought down