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BSKS SEC Suspension:
http://www.sec.gov/litigation/suspensions/2014/34-73090.pdf
Order:
http://www.sec.gov/litigation/suspensions/2014/34-73090-o.pdf
Admin Proceeding:
http://www.sec.gov/litigation/admin/2014/34-73091.pdf
Anything new with the Think Tank?
Is this board for "Blue Sky Development Corp." (BSKS) board, one in the same as: "Bluesky Systems Holdings Inc., formerly BlueSky Systems, Corp" aka (BSKS OTC Pink)?
I second that....with a special assist by Richard Barsom of course.....lol.
May even run again someday if this recently assembled 'Think Tank' can execute the new business plan.
Ice,
Any idea what happened with them before? They kind of just fell off the face the earth and stopped reporting. The tech is interesting. What happened to the company?
I applaud Dan Kehoe, CEO of BSKS for showing us all how to make the (legal) quick buck!
Please do it again sir!
BSKS .05 to $4.05 on Oct. 13th, 2011 for a 4000% gain!
then topping the run to $7.80 sixty days later.
Bravo! Mr. Kehoe I would invest with you anyday...
Well at least in the first sixty, Ha!
("Bluesky" "BSKS" or the "Company") Dan Kehoe, CEO of BSKS, announced today that he will be resigning as CEO of the Company, as part of a comprehensive restructuring. The Company has assembled a Think Tank group, to be led by Dr. Alan E. Rand, to develop a new strategic financing plan and to bring up to date the Company’s SEC reporting requirements. Other members of the Think Tank will include six highly experienced individuals with impeccable credentials: Dr. John Hertz, Steven Antebi, Mark R. Moskowitz, Esq., Don Weiss, Gordon Romney and Andrew Seybold.
It is currently intended that the six individuals joining Dr. Rand will ultimately become members of a reconstituted Board of Directors. However, in each case, their willingness to do so will be subject, among other things, to the Company’s receipt of the amount of working capital determined by the Think Tank group as necessary to move forward, as well as the successful completion of the Think Tank’s tasks, including the completion of an approved business plan and of the necessary updating of the Company’s SEC reports.
Dr. Hertz, a licensed chiropractor for 30 years, has a thriving chiropractic practice in Los Angeles with a large and prominent clientele. A graduate of Western States Chiropractic College, he became Professor of Diagnosis, Bio Mechanics, and Director of Western States Clinic for Portland, Oregon, where he was in charge of 90 interns. Dr. Hertz also served as Director of the International Sports Medicine Institute in Los Angeles, and he is presently President of the Center for Spinal Diagnostics, Inc. Subject to the satisfaction of the conditions to his serving as a director, it is intended that Dr. Hertz will replace Mr. Kehoe as President of the Company.
Mr. Antebi, an experienced investor with a diverse portfolio, and a well known philanthropist in the Los Angeles area, is currently President and CEO of Maple Capital Management, and has an affiliation with Cedars Sinai Hospital, a major health care facility in the Los Angeles area. Also subject to satisfaction of the aforementioned conditions precedent, it is currently contemplated that he would serve as Chairman of the Board.
Mr. Moskowitz, a Harvard Law School graduate and a former Editor of the Harvard Law Review, has practiced corporate and securities law in Los Angeles for over 40 years for a number of major firms, representing a diverse client base, and is currently a member of the California Bar. Heis expected to serve as Secretary of the Company if the requisite funding is obtained if the tasks identified by the Think Tank are successfully completed.
Don Weiss another proposed Board member has had a diverse career in the worlds of micro and nano-technologies and investment banking. He founded and took public a successful company engaged in the design, manufacturing and marketing of Micro-Electro-Mechanical Systems, and ran that public company as its CEO for ten years. He went on to found and raise funding for another electronics company, and then joined Bell Labs Research (Lucent Technologies, now Alcatel-Lucent) as its Vice President of its Nanotechnology Consortium. Mr. Weiss created a new profit center at Bell Labs and he developed public and private funding to enable the commercialization of a wide range of Bell Labs technologies. These technologies typically had broad applications across both commercial and military markets. He worked closely with Bell Labs research scientists as well as all levels of management to monetize the Bell Labs technology portfolio (approximately 33,000 patents) by bidding, successfully for government-sponsored programs as well as finding venture capital and strategic partners to fund advanced technology research and development and commercialization of new products.
Gordon Romney, the fifth prospective board member, is currently focused on the development of a Master of Science program for Cyber Security and Information Assurance (MS CSIA) for National University in San Diego, California. This program is designed to help meet the critical need for 60,000 “Cyber Warriors” in the U.S. and globally, to confront the surging international attacks on internet and enterprise computer infrastructures. Mr. Romney is a full Professor at National University in the School of Engineering, Technology (2007-present) and in the Department of Computer Science, Information and Media Systems. Romney is the architect and initial lead faculty member for the MS in Cyber Security and Information Assurance (CSIA) program, and he is also theSenior Research Scientist in the Cyber Security Institute of San Diego.
Andrew Seybold, the final proposed Board member, is one of the world’s leading authorities on technology and trends shaping the world of wireless mobility. Mr. Seybold is a respected analyst, consultant, commentator, author, and active participant in wireless trade organizations. For more than forty years, he has served the industry and shaped initiatives for many of the world’s most respected names in the wireless industry including Verizon, Nokia, AT&T, Motorola, and Qualcomm. His firm has advised wireless companies from startups to Fortune 1000 companies, such as Dow Chemical, Ford Motor Company and Microsoft, and provides education services through its “Wireless” University” program.
The Company said all six of the named individuals have expressed their support for the Supera technology licensed by the Company, on an exclusive basis, for healthcare industry applications. On an interim basis, the proposed new officers and directors intend to work through the Think Tank on the development of a new business plan focused on the healthcare industry and the development and successful new bridge financing plan, both of which are among the aforementioned conditions precedent to the contemplated restructuring and the assumption by the named individuals of their new positions. Consummation of the necessary bridge financing will facilitate the development of new card prototypes utilizing the licensed Supera technology, which is a prerequisite to the establishment of advantageous manufacturing relationships. Such financing would also enable the Company to engage qualified certified public accountants to bring all financial statements and SEC reporting current.
While the proposed new officers and directors are currently optimistic that they will be able to accomplish their initial objectives, as well as to bring on additional experienced board members and officers if deemed beneficial, there can be no assurance that they will be successful, or that the contemplated restructuring will occur.
For any question, please call Mark R. Moskowitz at 310/456-5152.
100 percent gain on no news and light volume. What is the story now with this stock. Didnt they have a lot of patents and was trying to bring their smart card to market? Last 8k was august of last year and nothing since then. Whats the new developments? Are they still in business? At least they are not bleeding cash and diluting the stock by issuing more shares os still shows 39 mil shares. No one selling and no one buying due to lack of interest
Anyone know whats going on with this company and their technology?
Item 1.02 Termination of a Material Definitive Agreement
Reference is made to Item 5.02 below relating to the termination of the employment agreement between the Company and Susan Lutz.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Effective July 1, 2012, Jerry McClean resigned as a director of the Company. Effective July 3, 2012, Susan Lutz resigned as a director and also indicated in a letter that she was terminating her employment contract as President of the Company for cause for the reasons set forth in such letter. The Company disputes that Ms. Lutz has the right to terminate her contract for cause, and considers that Ms. Lutz has resigned as President of the Company. In turn, Ms. Lutz disputes the Company's position.
Big bidder moved to 260K @.15 by the end of the day.
There is nothing evident to me in filings and such why anyone would be willing to drop $40K - $50K here unless they anticipated or knew about a paid pump or some sort of significant material event coming up.
Maybe Richard's trying to load up so he can push this one again......hmmm....lol.
Correct. Where's the volume coming from?
My how the mighty have fallen, wasn't too long ago this thing went on it's epic run to $7.80, now sitting at .22.....lol...getting some decent volume though.
BSKS ~ back2watch
.26, 153kVOL,+13% here last
and it is still running...65K shares today
Anyone know what happened here?
I had thought the R/S was the key for a big run?
Kinda funny actually
20120301 - Trades for Q:BSKS
Ex Time Price Change Volume
Q 20120301 15:59:55 4.10 0.20 100
Q 20120301 13:22:37 3.50 -0.40 1300
Q 20120301 13:22:21 3.50 -0.40 1000
Q 20120301 13:21:06 3.55 -0.35 100
Q 20120301 12:45:00 3.50 -0.40 2000
Q 20120301 12:32:10 3.50 -0.40 1000
Q 20120301 12:29:20 3.55 -0.35 1000
Q 20120301 12:28:52 3.55 -0.35 329
Q 20120301 12:28:45 3.55 -0.35 1000
Q 20120301 12:27:25 3.50 -0.40 2000
Q 20120301 11:49:26 3.50 -0.40 1000
Q 20120301 11:44:49 3.50 -0.40 2670
Q 20120301 11:44:39 3.50 -0.40 500
Q 20120301 11:38:43 3.55 -0.35 500
Q 20120301 10:24:58 3.55 -0.35 800
Q 20120301 10:24:55 3.55 -0.35 1000
Q 20120301 10:24:50 3.61 -0.29 100
Q 20120301 10:24:47 3.64 -0.26 100
Q 20120301 09:48:20 3.55 -0.35 2000
Q 20120301 09:44:58 3.56 -0.34 1000
Q 20120301 09:44:38 3.55 -0.35 900
Q 20120301 09:33:33 3.50 -0.40 5000
Number of trades shown: 22
Total volume: 25399
Nice! A little volume, and a great standing ground.
Trading activity
Marking the close
Record of trading for Friday Feb 24, 2011:
20120224 - Trades for Q:BSKS
Ex Time Price Change Volume
Q 20120224 15:50:52 4.00 0.60 100
Q 20120224 10:29:56 3.10 -0.30 3000
Q 20120224 10:23:47 3.20 -0.20 1000
Number of trades shown: 3
Total volume: 4100
Hey guys, so what's the story here??
Hello Lady,
Seems like this would be a very good source of security for the future of credit cards. It is amazing the type of technology we are working on and I am excited to see them release these cards into the world. I would definitely use it. I hear fraud is the number one crime in the USA and this would bring that percentage down almost entirely. The solutions this card brings to the table is vast and I hope people start catching on. Looking forward to a safe, convenient way to carry my personal information and pay for things. Does anyone have more information about their current state or when this technology will be available to the public?
I'm hearing BSKS is poised to take off tomorrow January 19?
does this stock have a float?
Is it 3 sided and toothless or does it bite hard like a pit?
BSKS is poised to take off tomorrow January 19? Really why? I see about 9 to 10... what do you see?
skype me: lite420
BSKS is poised to take off tomorrow January 19. A record closing high is expected. Buy while it's under $4.00.
BSKS Really? Come on dont be a....
Dick... Richard, gives us a BSKS clue?
http://www.facebook.com/photo.php?fbid=24606453492&set=a.437744718492.234892.727883492&type=3&theater
Are you ever going to share what you know about BSKS?
Dark Skies for Blue Sky...
BSKS - Statement of Beneficial Ownership (SC 13D)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Bluesky Systems Holdings, Inc .
(Name of Issuer)
Common Stock
(Title of Class of Securities)
09626D106
(CUSIP Number)
Galileo Partners, LLC
10550 Fontenelle Way
Los Angeles, California 90077
310-474-7800
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
October 20, 2011
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box o
( 1 )
CUSIP No. 09626D106
1. Name of reporting person: Galileo Partners, LLC
2. Check the appropriate box if a member of a group ( See instructions):
(a) o
(b) o
3. SEC use only:
4. Source of funds ( See instruction: WC
5. Check if disclosure of legal proceedings is required pursuant to Items 2(d) or (d): o
6. Citizenship or place or organization: California
Number of shares beneficially owned by each reporting person with:
7. Sole voting power: 3,550,000 shares of Common Stock
8. Shared voting power:
9. Sole dispositive power: 3,550,000 shares of Common Stock
10. Shared dispositive power:
11. Aggregate amount beneficially owned by each reporting person:
3,550,000 shares of common stock
12. Check if the aggregate amount in row 11, above, excludes certain shares ( See Instructions): o
13. Percent of class represented by amount in row 11, above:
8.98%
14. Type of reporting person ( See Instructions):
OO (limited liability company)
( 2 )
ITEM 1. SECURITY AND ISSUER
Common Stock
Bluesky Systems Holdings Inc.
1801 Century Park East, Suite 1500, Los Angeles, California 90067
ITEM 2. IDENTITY AND BACKGROUND
This statement is being filed by Galileo partners, LLC (“ Galileo ”) (the “ Reporting Person ”) whose principal business is investments and the principal business address is 10550 Fontenelle Way, Los Angeles, California 90077. Galileo is a California limited liability company. During the past five years, the Reporting Person has not been convicted in a criminal proceeding or has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result, of which any of the foregoing was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws, or finding any violation with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The total amount to purchase the Securities was $60,000 and was funded from the working capital of Galileo. The funds were issued to purchase interests in a convertible note issued by the Issuer, which note was subsequently converted into shares of Issuer Common Stock.
ITEM 4. PURPOSE OF TRANSACTION
The shares were purchased for investment.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
3,550,000 shares of common stock representing approximately 8.98% of the Issuer’s outstanding shares of common stock (based on 39,535,005 shares outstanding as reflected in the Quarterly Report filed by the Issuer on November 21, 2011).
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER
Not applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
None.
( 3 )
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: December 16, 2011 /s/ Steve Antebi
Name: Steve Antebi, Managing Member
http://ih.advfn.com/p.php?pid=nmona&article=50480364
BSKS, Markets to Scary? I was thinking more like Poker Arbitrager for myself, going all in on a single hand... Sounds just like playing stocks! Ha!
Markets are too scary.
I'm going to be a full time sports arbitrager. Risk free bets sound nice after playing stocks.
BSKS I think many investors were getting the upper hand... Market Makers want the advantage so they want blind quotations... Buy the ask and set a high exit price above $10.10 - IMO
Form 8-K for BLUESKY SYSTEMS CORP 12-Dec-2011 / Unregistered Sale of Equity Securities, Change in Directors or Principal Off
Item 3.02 Unregistered Sales of Equity Securities
Pursuant to the Employment Agreement referred to in Item 5.02, the Company agreed to issue to Susan Lutz options to purchase shares of its Common Stock (the "Options") as described in Item 5.02. The Options were issued under an exemption from the registration requirements of the Securities Act of 1933, as amended, pursuant to Section 4(2) thereof and Regulation D.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Pursuant to an Employment Agreement dated as of November 1, 2011 (the "Employment Agreement") but executed on December 6, 2011, the Company engaged Susan DiBiase Lutz as President. Ms. Lutz will receive a base salary of $30,000 per month and for the fiscal year commencing January 1, 2012 and for each subsequent year an annual bonus in accordance with the bonus plan established by the Company's Board of Directors. Effective November 17, 2011, Ms. Lutz is granted options to purchase up to 2,020,000 shares of the Company's common stock at an exercise price of $2.15 subject to the vesting schedule and conditions set forth in the Employment Agreement. The number of Option Shares may be increased to the extent that any options granted to any member of Ms. Lutz initial management team have terminated prior to vesting. Ms. Lutz is also entitled to receive additional options in the event of a liquidation event as set forth in the Employment Agreement. Additionally, Ms. Lutz is entitled to commissions on all amounts paid to the Company less amounts paid or accrued by the Company ("Net Revenues") under license agreements pursuant to which the Company licenses or otherwise transfers intellectual property in the ordinary course of business. The commissions are 10% of Net Revenues paid during the first three years of the term of a license agreement, 5% during the fourth and fifth year and 3% during years sixth through ten.
The term of the Employment Agreement is for three years and will be automatically renewed for successive one-year periods unless either party notifies the other in writing of an intent not to renew the agreement.
Ms. Lutz, a founder of ETSec, Inc., TrustELI Inc., and Retelcom, LLC, and co-founder of SecureIT, Inc. has approximately 29 years of multidisciplinary global experience in executive management, technology implementation, business development, marketing, product development, engineering, strategic planning and profit and loss management. Ms. Lutz has built three businesses and executed the sale of three businesses successfully and the fourth to a successful International IPO. In 2010, ETSec and TrustELI were acquired by ANX eBusiness Corp., a JP Morgan Company.
From 2002-2010, Ms. Lutz was Chief Executive Officer (and founder) of ETSec, Inc. and from February 2010 to February 2011, she was General Manager of ETSec, a division of AMX eBusiness Corp. From February 2011 until joining the Company Ms. Lutz reviewed various business opportunities. Prior to founding ETSec, Ms Lutz held numerous engineering, sales, marketing and executive management roles in several organizations in the telecommunications and high technology sectors. Ms Lutz began her career with RCA Americom as an engineer, building wireless and terrestrial telecommunications infrastructures. She quickly moved up the ranks to a marketing professional and product development team lead. She next joined Cable & Wireless Company, bringing in numerous multi-million dollar outsourcing IT contracts. From there, she held a series of executive-level positions with firms in the markets of Southeast Asia, where she was instrumental in successfully orchestrating a $100 million wireless telecom merger between Korea Telecom and Philippine Telegraph and Telephone Company. Ms. Lutz returned to the United States in early 1996 to help launch a new GE Capital Information Security business unit that garnered more than $35 million contract value within its first year of operations. In 1997, Ms Lutz left GE Capital and co-founded and built SecureIT, an early pioneer firm in the evolution to secure enterprise computing. She was instrumental in SecureIT's rapid success, generating 90% of the company's revenue base. Ms Lutz's efforts culminated in SecureIT's acquisition by VeriSign Corporation within 18 months for $70 million. Ms. Lutz was retained as a key leader in the transition that followed, holding several key executive positions over the next five years. In those roles, she helped grow the business from $10 million to $150 million in revenue and build its practice up to 200 consultants.
Item 9.01 Financial Statements and Exhibits
http://biz.yahoo.com/e/111212/bsks.ob8-k.html
BSKS in Blind Quote Mode!! BSKS was going to $10... - IMO - MMs knew and put a stop to quotations... I think it can still trade, just no public quotes...
2011/12/16 4.75 4.75 4.75 4.75 - 4.75
2011/12/15 4.20 4.75 4.20 4.75 23,812 4.75
2011/12/14 5.25 5.25 2.75 4.20 36,182 4.20
2011/11/29 4.69 5.70 4.65 5.70 36,574 5.70
2011/11/28 4.15 4.75 4.15 4.68 30,249 4.68
http://www.otcbb.com/asp/dailylist_detail.asp?d=12/16/2011&mkt_ctg=OTCBB
BSKS Rule 15c2-11 -- Initiation or Resumption of Quotations without Specified Information
Preliminary Note:
Brokers and dealers may wish to refer to Securities Exchange Act Release No. 29094 (April 17, 1991), for a discussion of procedures for gathering and reviewing the information required by this rule and the requirement that a broker or dealer have a reasonable basis for believing that the information is accurate and obtained from reliable sources.
As a means reasonably designed to prevent fraudulent, deceptive, or manipulative acts or practices, it shall be unlawful for a broker or dealer to publish any quotation for a security or, directly or indirectly, to submit any such quotation for publication, in any quotation medium (as defined in this section) unless such broker or dealer has in its records the documents and information required by this paragraph (for purposes of this section, "paragraph (a) information"), and, based upon a review of the paragraph (a) information together with any other documents and information required by paragraph (b) of this section, has a reasonable basis under the circumstances for believing that the paragraph (a) information is accurate in all material respects, and that the sources of the paragraph (a) information are reliable. The information required pursuant to this paragraph is:
A copy of the prospectus specified by Section 10(a) of the Securities Act of 1933 for an issuer that has filed a registration statement under the Securities Act of 1933, other than a registration statement on Form F-6, which became effective less than 90 calendar days prior to the day on which such broker or dealer publishes or submits the quotation to the quotation medium, Provided That such registration statement has not thereafter been the subject of a stop order which is still in effect when the quotation is published or submitted; or
A copy of the offering circular provided for under Regulation A under the Securities Act of 1933 for an issuer that has filed a notification under Regulation A and was authorized to commence the offering less than 40 calendar days prior to the day on which such broker or dealer publishes or submits the quotation to the quotation medium, Provided That the offering circular provided for under Regulation A has not thereafter become the subject of a suspension order which is still in effect when the quotation is published or submitted; or
A copy of the issuer's most recent annual report filed pursuant to Section 13 or 15(d) of the Act or a copy of the annual statement referred to in Section 12(g)(2)(G)(i) of the Act, in the case of an issuer required to file reports pursuant to Section 13 or 15(d) of the Act or an issuer of a security covered by Section 12(g)(2)(B) or (G) of the Act, together with any quarterly and current reports that have been filed under the provisions of the Act by the issuer after such annual report or annual statement; Provided, however, That until such issuer has filed its first annual report pursuant to Section 13 or 15(d) of the Act or annual statement referred to in Section 12(g)(2)(G)(i) of the Act, the broker or dealer has in its records a copy of the prospectus specified by Section 10(a) of the Securities Act of 1933 included in a registration statement filed by the issuer under the Securities Act of 1933, other than a registration statement on Form F-6, that became effective within the prior 16 months, or a copy of any registration statement filed by the issuer under Section 12 of the Act that became effective within the prior 16 months, together with any quarterly and current reports filed thereafter under Section 13 or 15(d) of the Act; and Provided further, That the broker or dealer has a reasonable basis under the circumstances for believing that the issuer is current in filing annual, quarterly, and current reports filed pursuant to Section 13 or 15(d) of the Act, or, in the case of an insurance company exempted from Section 12(g) of the Act by reason of Section 12(g)(2)(G) thereof, the annual statement referred to in Section 12(g)(2)(G)(i) of the Act; or
The information that, since the beginning of its last fiscal year, the issuer has published pursuant to Rule 240.12g3-2(b), and which the broker or dealer shall make reasonably available upon the request of a person expressing an interest in a proposed transaction in the issuer's security with the broker or dealer, such as by providing the requesting person with appropriate instructions regarding how to obtain the information electronically; or
The following information, which shall be reasonably current in relation to the day the quotation is submitted and which the broker or dealer shall make reasonably available upon request to any person expressing an interest in a proposed transaction in the security with such broker or dealer:
the exact name of the issuer and its predecessor (if any);
the address of its principal executive offices;
the state of incorporation, if it is a corporation;
the exact title and class of the security;
the par or stated value of the security;
the number of shares or total amount of the securities outstanding as of the end of the issuer's most recent fiscal year;
the name and address of the transfer agent;
the nature of the issuer's business;
the nature of products or services offered;
the nature and extent of the issuer's facilities;
the name of the chief executive officer and members of the board of directors;
the issuer's most recent balance sheet and profit and loss and retained earnings statements;
similar financial information for such part of the 2 preceding fiscal years as the issuer or its predecessor has been in existence;
whether the broker or dealer or any associated person is affiliated, directly or indirectly with the issuer;
whether the quotation is being published or submitted on behalf of any other broker or dealer, and, if so, the name of such broker or dealer; and
whether the quotation is being submitted or published directly or indirectly on behalf of the issuer, or any director, officer or any person, directly or indirectly the beneficial owner of more than 10 percent of the outstanding units or shares of any equity security of the issuer, and, if so, the name of such person, and the basis for any exemption under the federal securities laws for any sales of such securities on behalf of such person.
If such information is made available to others upon request pursuant to this paragraph, such delivery, unless otherwise represented, shall not constitute a representation by such broker or dealer that such information is accurate, but shall constitute a representation by such broker or dealer that the information is reasonably current in relation to the day the quotation is submitted, that the broker or dealer has a reasonable basis under the circumstances for believing the information is accurate in all material respects, and that the information was obtained from sources which the broker or dealer has a reasonable basis for believing are reliable. This paragraph (a)(5) shall not apply to any security of an issuer included in paragraph (a)(3) of this Section unless a report or statement of such issuer described in paragraph (a)(3) of this Section is not reasonably available to the broker or dealer. A report or statement of an issuer described in paragraph (a)(3) of this Section shall be "reasonably available" when such report or statement is filed with the Commission.
With respect to any security the quotation of which is within the provisions of this Section, the broker or dealer submitting or publishing such quotation shall have in its records the following documents and information:
A record of the circumstances involved in the submission of publication of such quotation, including the identity of the person or persons for whom the quotation is being submitted or published and any information regarding the transactions provided to the broker or dealer by such person or persons;
A copy of any trading suspension order issued by the Commission pursuant to Section 12(k) of the Act respecting any securities of the issuer or its predecessor (if any) during the 12 months preceding the date of the publication or submission of the quotation, or a copy of the public release issued by the Commission announcing such trading suspension order; and
A copy or a written record of any other material information (including adverse information) regarding the issuer which comes to the broker's or dealer's knowledge or possession before the publication or submission of the quotation.
The broker or dealer shall preserve the documents and information required under paragraphs (a) and (b) of this Section for a period of not less than three years, the first two years in an easily accessible place.
For any security of an issuer included in paragraph (a)(5) of this Section, the broker or dealer submitting the quotation shall furnish to the interdealer quotation system (as defined in paragraph (e)(2) of this Section), in such form as such system shall prescribe, at least 3 business days before the quotation is published or submitted, the information regarding the security and the issuer which such broker or dealer is required to maintain pursuant to said paragraph (a)(5) of this Section.
For any security of an issuer included in paragraph (a)(3) of this Section,
a broker-dealer shall be in compliance with the requirement to obtain current reports filed by the issuer if the broker-dealer obtains all current reports filed with the Commission by the issuer as of a date up to five business days in advance of the earlier of the date of submission of the quotation to the quotation medium and the date of submission of the paragraph (a) information pursuant to Schedule H of the By-Laws of the National Association of Securities Dealers, Inc.; and
a broker-dealer shall be in compliance with the requirement to obtain the annual, quarterly, and current reports filed by the issuer, if the broker-dealer has made arrangements to receive all such reports when filed by the issuer and it has regularly received reports from the issuer on a timely basis, unless the broker-dealer has a reasonable basis under the circumstances for believing that the issuer has failed to file a required report or has filed a report but has not sent it to the broker-dealer.
For purposes of this Section:
"Quotation medium" shall mean any "interdealer quotation system" or any publication or electronic communications network or other device which is used by brokers or dealers to make known to others their interest in transactions in any security, including offers to buy or sell at a stated price or otherwise, or invitations of offers to buy or sell.
"inter-dealer quotation system" shall mean any system of general circulation to brokers or dealers which regularly disseminates quotations of identified brokers or dealers.
Except as otherwise specified in this rule, "quotation" shall mean any bid or offer at a specified price with respect to a security, or any indication of interest by a broker or dealer in receiving bids or offers from others for a security, or any indication by a broker or dealer that he wishes to advertise his general interest in buying or selling a particular security.
"Issuer", in the case of quotations for American Depositary Receipts, shall mean the issuer of the deposited shares represented by such American Depositary Receipts.
The provisions of this Section shall not apply to:
The publication or submission of a quotation respecting a security admitted to trading on a national securities exchange and which is traded on such an exchange on the same day as, or on the business day next preceding, the day the quotation is published or submitted.
The publication or submission by a broker or dealer, solely on behalf of a customer (other than a person acting as or for a dealer), of a quotation that represents the customer's indication of interest and does not involve the solicitation of the customer's interest; Provided, however, That this paragraph (f)(2) shall not apply to a quotation consisting of both a bid and an offer, each of which is at a specified price, unless the quotation medium specifically identifies the quotation as representing such an unsolicited customer interest.
The publication or submission, in an interdealer quotation system that specifically identifies as such unsolicited customer indications of interest of the kind described in paragraph (f)(2) of this Section, of a quotation respecting a security which has been the subject of quotations (exclusive of any identified customer interests) in such a system on each of at least 12 days within the previous 30 calendar days, with no more than 4 business days in succession without a quotation; or
The publication or submission, in an interdealer quotation system that does not so identify any such unsolicited customer indications of interest, of a quotation respecting a security which has been the subject of both bid and ask quotations in an interdealer quotation system at specified prices on each of at least 12 days within the previous 30 calendar days, with no more than 4 business days in succession without such a two-way quotation;
A dealer acting in the capacity of market maker, as defined in Section 3(a)(38) of the Act, that has published or submitted a quotation respecting a security in an interdealer quotation system and such quotation has qualified for an exception provided in this paragraph (f)(3), may continue to publish or submit quotations for such security in the interdealer quotation system without compliance with this Section unless and until such dealer ceases to submit or publish a quotation or ceases to act in the capacity of market maker respecting such security.
The publication or submission of a quotation respecting a municipal security.
(5) The publication or submission of a quotation respecting a Nasdaq security (as defined in Rule 242.600 of this chapter), and such security's listing is not suspended, terminated, or prohibited.
The requirement in subparagraph (a)(5) that the information with respect to the issuer be "reasonably current" will be presumed to be satisfied, unless the broker or dealer has information to the contrary, if:
The balance sheet is as of a date less than 16 months before the publication or submission of the quotation, the statements of profit and loss and retained earnings are for the 12 months preceding the date of such balance sheet, and if such balance sheet is not as of a date less than 6 months before the publication or submission of the quotation, it shall be accompanied by additional statements of profit and loss and retained earnings for the period from the date of such balance sheet to a date less than 6 months before the publication or submission of the quotation.
Other information regarding the issuer specified in subparagraph (a)(5) is as of a date within 12 months prior to the publication or submission of the quotation.
This Section shall not prohibit any publication or submission of any quotation if the Commission, upon written request or upon its own motion, exempts such quotation either unconditionally or on specified terms and conditions, as not constituting a fraudulent, manipulative or deceptive practice comprehended within the purpose of this Rule.
http://taft.law.uc.edu/CCL/34ActRls/rule15c2-11.html
Holy Shieeet This is not good is it? 07:55 BSKS Bluesky Systems Holdings, Inc. Common Stock 12/16/2011 100 Ineligible for quotation on OTCBB due to quoting inactivity under SEC Rule 15c2-11 WTF? http://www.otcbb.com/asp/dailylist_detail.asp?d=12/16/2011&mkt_ctg=OTCBB
why does ihub not show any?
etrade shows 17795 in vol
any ideas? Ineligible for quotation
07:55 BSKS Bluesky Systems Holdings, Inc. Common Stock 12/16/2011 100 Ineligible for quotation on OTCBB due to quoting inactivity under SEC Rule 15c2-11
http://www.otcbb.com/asp/dailylist_detail.asp?d=12/16/2011&mkt_ctg=OTCBB
Yo... where you at? You done with BSKS?
Make sense? Thats why I say Savicorp could follow this BSKS example... Making the stock more liquid by lowering the float, therefore increasing investor interest. -IMO
how does this relate to bsks?
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