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Private Equity Fund Of Funds Motley Fool ran a story that named StartCall as a worthless investment. StartCall became Goldspring (OTCBB: GSPG) which could be a Cinderalla story afterall.Visit our Axcess News Forum and add your comments on this story. Try your hand at writing, the best story will be published on our news network. Take our micro cap stock poll too!

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Equity Income Funds On September 17, 2003 StockPatrol reported on a recent article published by Motley Fool, entitled Hype, Spam and Penny Stocks. The article, written by Motley Fool's Bill Mann focused on the dismal fate of that author's portfolio of highly hyped penny stocks.

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Capital Casebook Equity One of the stocks featured in Mr. Mann's report was GoldSpring, Inc. (OTCBB: GSPG) which, according to the Motley Fool article, had declined 96% after it was added to his portfolio.

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Private Investment In Public Motley Fool subsequently clarified that report. Several of our readers recently asked us to reiterate Mr. Mann's clarification. It seems that Mr. Mann actually made his "virtual investment" in a company called StartCall, which was described as a "real time interaction technology company." Mr. Mann noted that StartCall, at the time it was being promoted through e-mail's, had no cash and just $511 in revenues.

This is his story, as told and filmed by Rick Ray during a private visit to his monastery in Dharamsala, India over the course of several months.

Equity Mutual Funds In March 2002 an Arizona-based mining company acquired the StartCall shell and changed its name to GoldSpring. Mr. Mann stood by his original statement that "[a]nyone unfortunate enough to have held the equity that was to become GoldSpring has lost 96% of his or her money." He noted that he had issued his clarification at the request of GoldSpring's management.

Birmingham Contact Equity For its part, GoldSpring has been announcing new developments. The Company recently disclosed that it had finalized an agreement to acquire a gold mining company located in Gold Hill, Nevada. GoldSpring also revealed, in advance of its Form 10-Q for the third quarter of 2003, that it has raised approximately $2.03 million dollars in equity: $250,000 from a private placement of restricted shares to accredited investors and $1.78 million from an "Institutional placement" of restricted shares. Hopefully, further details will become available once that quarterly report is filed.

Private Equity Investment Firm Reprinted by permission of StockPatrol.com. All rights reserved.

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