Look before you leap!

December 23, 2003

Two weeks ago, Smartmoney.com rang the praises of Ptek Holdings (PTEK) , describing it as “a small stock with big potential.” But earlier today, the company filed two ammended 10-Qs, an ammended 10-K and an ammended registration statement for some convertible securities it offered this fall. In the K, the company says the revised filings were prompted by an SEC review of the registration statement. A quick glance at the two documents shows that today’s filing is about 30 percent larger. Most of that space is taken up with risk factors. In the September filing, risk factors took up a meager 2 1/2 pages, but in the filing today, they accounted for 18 pages. Just another reason to look first before you leap.

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