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BAD APPLES

by Lee M. Webb

E-Rex Inc., an over-the-counter U.S. promotion with ties to Vancouver, has fired Big Apple Consulting USA Inc., a Florida-based tout service. The culling of Big Apple was disclosed in the fourth and final paragraph of a news release on Aug. 24, ostensibly primarily issued to remind shareholders of E-Rex's annual meeting scheduled for Sept. 7. "E-Rex would also like to inform its shareholders that, effective Thursday, August 23, 2001, it has terminated its Investor Relations Agreement with Big Apple Consulting," the company reported.

The cornerstone of the E-Rex promotion is the Dragonfly, a much-hyped "6-in-1 portable printer, fax and scanner with wireless Internet connectivity." The unveiling of the prototype of this ballyhooed technological marvel has been expected within weeks for more than two years now. The move to fire Big Apple comes as shareholders, disenchanted with the seemingly endless delays in completing the prototype of the vaunted Dragonfly and the company's tumbling stock price, vent their frustration by levelling serious allegations of misconduct against the Florida tout service and E-Rex management on a popular Internet chat site, Raging Bull. According to several of the posters, the United States Securities and Exchange Commission (SEC) is investigating E-Rex and Big Apple. Moreover, some of them claim that the FBI is also interested in at least one individual connected to both E-Rex and its recently terminated tout service.

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