OTCBB General Discussion

[Keith Maydak]

DIBZ: Having helped with DIBZ management formulate a share underwriting plan, I can state with my certification that this is the stock to buy. This post constitutes a solicitation for you to invest all of your retirement in my latest baby, DIBZ.

[americano]

[jmhollen]

NASDAQ dropping ball, BBX cancelled, PinkSheets taking over....

Please read: http://www.investorshub.com/boards/read_msg.asp?message_id=1144022

John

[Splittrader]

900% Stock Dividend!

Walker Financial Corporation Approves Stock Dividend and Sets Record Date


GARDEN CITY, N.Y.--(BUSINESS WIRE)--Nov. 14, 2002--Walker Financial Corporation ("WINT") is pleased to announce that its Board of Directors has declared a 900% stock dividend and set a record date of December 15, 2002.

All owners of the company's common stock on the record date of December 15, 2002 will receive an additional 9 shares of common stock for every one share of common stock owned. This stock dividend will have the same effect as a 1:10 forward stock split which will increase the amount of the company's shares outstanding tenfold. Mitchell S. Segal, President and CEO stated "the Board has approved this stock dividend and made more shares available in the hopes of broadening our shareholder base as the company seeks to interest investors, both individual and institutional, to follow the company's progress."

About Walker Financial Corporation

Walker Financial Corporation, is a Delaware corporation whose common stock trades on the OTC Electronic Bulletin Board under the symbol "WINT." Through our subsidiary, American DataSource ("ADS"), the company is engaged in the business of providing a complete line of administrative services for pre-need funeral and cemetery trust accounts. American DataSource's customers include independent funeral homes, state master trusts and large and small corporations that own funeral homes, cemeteries or a combination thereof. Currently ADS administers approximately $200 million of pre-need trust assets. ADS now provides independent and national funeral home operators with personnel, computer systems and regulatory expertise to properly administer pre-need trust funds.

The company is additionally focusing its efforts on marketing the sale of prearrangements as a voluntary benefit to captive audiences such as corporations, unions and affinity groups. Prearrangements act to protect the future price of a death care arrangement to be performed in the future and is generally funded through either a pre-need insurance policy or by placing monies in trust. Through its licensed subsidiary, NPI Agency, Inc., Walker may earn insurance commissions on prearrangements funded through insurance.

Our Kelly Color subsidiary, based in North Carolina, processes photographs, generally for professional photographers, principally through mail orders.

Introductory Comment - Forward-Looking Statements

Statements contained in this report include "forward-looking statements" within the meaning of such term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause actual financial or operating results, performances or achievements expressed or implied by such forward-looking statements not to occur or be realized. Such forward-looking statements generally are based on our best estimates of future results, performances or achievements, predicated upon current conditions and the most recent results of the companies involved and their respective industries. Forward-looking statements may be identified by the use of forward-looking terminology such as "may," "can," "will," "could," "should," "project," "expect," "plan," "project," "believe," "estimate," "aim," "anticipate," "intend," "continue," "potential," "opportunity" or similar terms, variations of those terms or the negative of those terms or other variations of those terms or comparable words or expressions. Potential risks and uncertainties include, among other things, such factors as:

[LaVerne]

Hi There Anthony,
Would like to know more about OTCBB stocks.
Just started nibbling in this stuff.
Thank you,
Ms. Shirley

[Anthony M]

Investor Protection

It is important to note that the NASD has no regulatory authority over OTC Bulletin Board issuers. The NASD's responsibilities include establishing rules governing its broker/dealer members' business conduct; setting qualification standards for securities industry professionals; examining members for their financial and operational condition as well as their compliance with appropriate rules and regulations; investigating alleged violations of securities laws; disciplining violators of applicable rules and regulations; and responding to inquiries and complaints from investors and members.

Due to the high level of risk involved in investing in Penny Stocks, the SEC created Rule 15g-2, which makes it "unlawful for a broker or dealer to effect a transaction in any penny stock for or with the account of a customer unless, prior to effecting such transaction, the broker or dealer has furnished to the customer a document containing the information set forth in Schedule 15G, Rule 15g-100, and has obtained from the customer a manually signed and dated written acknowledgement of receipt of the document." (SEC Rule 15g-2(a), Risk Disclosure Document Relating to the Penny Stock Market)

If you believe that you have been defrauded by an OTC Bulletin Board issuer, you may file a complaint with your State Securities Regulator or contact the SEC's Office of Investor Education and Assistance.

If you believe that you have been defrauded by a broker, securities firm, investment advisor, or other securities professional, you may choose to file a customer complaint or a regulatory tip with NASD Regulation.

We encourage you to ensure that you have a thorough understanding of the rights that you have as an investor and to investigate the background of the individual broker and brokerage firm before you invest. Please visit the links below for more information on how to protect yourself or to obtain backgound information on your broker or brokerage firm.

About Your Broker Information about the NASD RegulationSM Public Disclosure Program, which allows investors to request a report of all disclosable information regarding an individual broker or securities firm, including instructions on requesting a report (either online, by phone, by fax, or by mail) and an explanation of the types of information that are disclosable.
How To Avoid Problems Information on ways to prevent potential problems and steps to take to resolve a dispute with a broker, securities firm, investment advisor, or other securities professional.
Invest Wisely Information on selecting a broker, understanding a new account agreement, several factors to consider before making an investment decision, red flags to watch out for, and where to turn if you encounter a problem.
SEC Rule 15g-9 This rule established several sales practice requirements for broker/dealers transacting in "penny stocks".
What Every Investor Should Know General information provided by the SEC Office of Public Affairs, Policy Evaluation and Research.


**********

LINK>>>
http://www.otcbb.com/investorinformation/investorinfo.stm

[Anthony M]

Nasdaq Files Modification of Limit Order Protection Pilot for OTCBB Securities;
Modifications to Take Effect November 1, 2001
(Head Trader Alert #2001-168)

Nasdaq® has filed with the Securities and Exchange Commission (SEC) certain modifications to the minimum price improvement standard set forth in National Association of Securities Dealers, Inc. (NASD®) Rule 6541 (Rule), that will be effective Thursday, November 1, 2001. The Rule applies basic customer limit order protection principles to certain designated securities that are quoted on the OTC Bulletin Board® (OTCBB). A list of these securities is available on the OTCBB Web site at Limit Order Protection Pilot Securities.
The Rule, in general, prohibits member firms that accept customer limit orders in these securities from “trading ahead” of their customers for their own account at prices equal or superior to the limit orders, without executing them at the limit price. Members may, however, trade ahead of a customer limit order if the trade for their own account provides a minimum level of price improvement over the limit order price. For a complete description of the Rule, see NASD Notice to Members 01-46 (which does not contain the modifications described below), available on the NASD Regulation® Web site at nasdr.com/pdf-text/0146ntm.pdf.

The filed modifications, which take effect on November 1, 2001, on a pilot basis through January 14, 2002, narrow the minimum price improvement standards for customer limit orders priced outside the current inside spread. For customer limit orders priced at or inside the current inside spread, the minimum price improvement will remain the lesser of (i) one cent or (ii) one-half of the current inside spread. For customer limit orders priced outside the current inside spread, any degree of price improvement will be sufficient. The filed modifications also clarify that the basic prohibition on trading ahead of held limit orders at prices equal or superior to the limit orders applies to limit orders that are priced more than $0.01 away from the current inside spread.

Nasdaq expects that the filing will be published in the Federal Register in the first half of November 2001.

For additional information, please contact:

Liz Heese, Nasdaq Alternative Markets, at [phone] ([e-mail]),
Jeffrey Davis, Office of General Counsel, at [phone], or
John Yetter, Office of General Counsel, at [phone].

******************

LINK>>>
http://www.otcbb.com/news/2001/GeneralNews/hta_2001_168.stm

[Anthony M]

Quotation of a Delisted Nasdaq Security on the OTCBB

If an issue has been delisted from The Nasdaq Stock Market because it has not maintained Nasdaq's listing requirements and the security meets the following criteria, then the issue will be available for immediate quotation on the OTCBB only for those Market Makers quoting in the security during the 30-day period preceding its removal.

The security has been quoted continuously on Nasdaq during the 30 calendar days preceding its delisting, exclusive of any trading halt not exceeding one day to permit the dissemination of material news concerning the security's issuer.
The issuer must not be the subject of bankruptcy proceedings.
The issuer must be current in its filings.
Upon delisting of a security meeting the above criteria, Market Makers that have quoted the security during the 30-day period preceding its removal have 24 hours in which to register to quote the security on the OTCBB without submitting a Form 211.

If the issuer does not meet all of the above criteria upon delisting, voluntarily delists from Nasdaq, or if no Market Makers register to quote the security on the OTCBB within 24 hours of delisting, the usual Form 211 filing and review process will apply.

Because the OTCBB is a quotation medium for subscribing members and not an issuer listing service, a delisted Nasdaq issuer cannot "list" themselves on the OTCBB. A delisted Nasdaq issuer that wishes to be quoted on the OTCBB should contact their Market Makers to request that they register to quote the security.

**********

Link>>>
http://www.otcbb.com/issuerinformation/issuerinfo.stm

[Anthony M]

Any Questions about OTCBB or Pinks that people would be interested in?

Anthony

[Anthony M]

Background Information On Microcap Fraud

What is a Microcap Company?

Microcap companies are typically thinly capitalized and are often not required to file periodic reports with the SEC. Securities of microcap companies may be quoted on the Over-the-Counter Bulletin Board operated by the National Association of Securities Dealers, Inc., in the Pink Sheets operated by the National Quotation Bureau, and on the Nasdaq Small Cap Market. In any of these trading mediums, public information is limited and a small number of brokers control the market.


The Nature of Microcap Fraud

Microcap fraud typically takes one of two forms. The first – the "pump and dump" scheme – often involves fraudulent sales practices, including high pressure tactics from "boiler room" operations where a small army of sales personnel cold call potential investors using scripts to induce them to purchase "house stocks" – stocks in which the firm makes a market or has a large inventory. The information conveyed to investors often is at best exaggerated and at worst completely fabricated. Increasingly, these stocks also are being touted on the Internet by unregistered promoters. The promoters of these companies, and often company insiders, typically hold large amounts of stock and make substantial profits when the stock price rises following intense promotional efforts. Once the price rises, the promoters, insider and brokers sell, realizing their profits.

Second, as part of the "pump and dump," unscrupulous brokers often employ a variety of fraudulent sales practices including "bait and switch" tactics, unauthorized trading, "no net sales" policies (where investors are discouraged or actually prevented from selling their stocks) and churning (excessive trading in their accounts in order to generate commissions for the broker).


The SEC's Response to the Problem

The Commission has a four-pronged approach to attacking microcap fraud: enforcement, inspections, investor education and regulation. The Commission's efforts devoted to fighting microcap fraud are described below.


Detection of Microcap Fraud – Office of Compliance Inspections and Examinations

Examinations are an important prong in the Commission's approach to microcap fraud. On-site examinations of regulated entities are often the earliest indications of changing industry practices and the techniques utilized by broker-dealers, salespersons, and issuers to skirt the federal securities laws and to defraud investors.

Microcap examinations of broker-dealers have been focused in the New York, South Florida, and Colorado/Utah areas, where the greatest concentration of fraudulent microcap activity is found. In fiscal year 1997, over 70 examinations of microcap firms were conducted in these regions, representing about 43 percent of all cause examinations conducted there. More than two-thirds of these microcap examinations were referred to the Commission's Division of Enforcement or to the NASDR for further investigation. The most common violations found were fraudulent misrepresentations, unsuitable recommendations, unauthorized trading, market manipulations and unregistered offerings.

Commission examiners are also scrutinizing the records of microcap issuers maintained by registered transfer agents, located predominantly in Utah and Nevada, to detect irregularities in the issuance and transfer of shares which typically accompany frauds on investors.

In January 1998, we initiated an examination sweep of several firms that are players in the microcap market. These firms had all of the "red flags" of fraudulent microcap activity, such as customer complaints, significant profits from underwriting and subsequent aggressive market making of illiquid microcap securities, registered representatives or principals previously associated with disciplined microcap firms, and large pools of inexperienced cold callers. Examiners conducted a complex and resource-intensive review of these firms' records for evidence of the hallmarks of microcap fraud: patterns of "bait and switch" sales techniques, misrepresentations and exaggerated claims of performance, unauthorized trading and refusals to sell securities, market manipulation and lax or nonexistent supervision.

As the Commission considers the proposals released today, and as regulatory reform progresses, the Commission's exam program will continue to focus attention on problem microcap firms and to identify any new methods used to circumvent statutory obligations to investors. These firms should be on notice of the certainty of examination scrutiny.

Division of Enforcement Combats Microcap Fraud

The SEC has increased its focus on microcap fraud in the Division of Enforcement in Washington, DC, and in the regional and district offices around the country, to bring actions against fraudulent microcap companies, promoters and brokers. In these microcap cases the SEC seeks immediate relief, such as temporary restraining orders and asset freezes, as well as strong remedies such as permanent industry bars, registration revocations and fines. In addition, the SEC has increased its use of trading suspensions to minimize investor harm by intervening early in ongoing market manipulations when there is misinformation about the issuer in the market.

In many of these cases the SEC has leveraged its resources by working closely with the criminal authorities, and, in many of the cases described below, has assigned SEC staff to devote full time effort to work on the parallel criminal investigations. Our close collaboration with the criminal authorities is an essential component of our enforcement program, given that a large number of recidivists - with little respect for civil proceedings - engage in microcap fraud.


Full Link on SEC site...

http://www.sec.gov/divisions/enforce/microcap.htm

[Anthony M]

Where did they go!

Background

In the summer of 1999, the National Association of Securities Dealers (NASD) began the process of de-listing over 3,000 companies from the OTC Bulletin Board.

This left many OTC stocks with virtually no visibility in the securities markets.

In response, the Pink Sheets expanded its mission to provide a centralized source of quotations and information about OTC securities, by introducing its real-time Electronic Quotation Service for the OTC market in the fall of 1999.

Incorporating state-of-the-art Internet technology and accessed through an advanced Java application, the Pink Sheets' Electronic Quotation Service has been rapidly adopted by the broker/dealer community, adding significantly to the transparency of quotes for OTC securities.

The Pink Sheets' Electronic Quotation Service is not an exchange, but a cutting-edge nexus in which competitive market makers display real-time prices and potential liquidity in thousands of domestic equities, Level I ADRs and foreign ordinaries. Pink Sheets offers the same transparency and the same market makers as Nasdaq and the OTC Bulletin Board for companies that are unable or chose not to list their securities on Nasdaq or an exchange. It's that simple.

Available at no cost to issuers, the Electronic Quotation Service allows real-time quotations from competing OTC market makers thus facilitating a more liquid and transparent OTC market for your securities, and paves the way for a better, deeper, more efficient OTC marketplace.

pinksheets.com

Now Pink Sheets continues the revolution in the OTC marketplace with the introduction of pinksheets.com, a web-based portal for quotes, financial news and company information for the OTC marketplace. Designed to provide a central resource for information on OTC companies to investors, brokers and issuers, pinksheets.com offers free quotes with a fifteen minute delay. Now your investors can have access to accurate pricing, as well as current company information and news. As with the Electronic Quotation Service, there is no cost to issuers for this service.

While companies do not have to be Securities and Exchange Commission (SEC) reporting to be quoted on the Pink Sheets, it is highly recommended that issuers make available company information to shareholders and market participants in a timely manner.

Full Link...

http://www.pinksheets.com/issuer/index.jsp

[Anthony M]

Revolutionizing OTC Markets

Pink Sheets® LLC is the leading provider of pricing and financial information for the over-the-counter (OTC) securities markets. We provide products and services that increase the transparency of information available in the OTC markets so as to make them more efficient for all participants. Our centralized information network includes services designed to benefit market makers, issuers, brokers and OTC investors. Pink Sheets information enhances the efficiency of OTC trading, provides better executions for OTC investors and improves the capital formation process for OTC issuers.

The origins of the Pink Sheets go back to 1904, when the National Quotation Bureau began as a paper-based, inter-dealer quotation service linking competing market makers in OTC securities across the country. Since that time, the Pink Sheets and the Yellow Sheets have been the central resource for trading information in OTC stocks and bonds.

Recently, Pink Sheets has transformed itself to utilize the power of the Internet and the advances in web based technology to increase the quality, timeliness and value of its information and services. The introduction of web-based technology has the potential to revolutionize what has been a sometimes obscure segment of the securities markets.

In September of 1999, Pink Sheets introduced our Electronic Quotation Service, an Internet-based, real-time quotation service for OTC equities and bonds for market makers and brokers. And in June of 2000, we introduced www.pinksheets.com, the premier financial web portal for information about OTC securities.

Today Pink Sheets provides broker/dealers, issuers and investors with electronic and print products and information services designed to improve the transparency of the OTC markets. We believe that these products will increase the efficiency of these markets, leading to greater liquidity and investor interest in OTC securities. Pink Sheets is a source of competitive market maker quotations, historical prices and corporate information about OTC issues and issuers. For more detailed discussion of what Pink Sheets offers the OTC market participants visit our Products and Services section.

Pink Sheets LLC is a privately owned company headquartered in New York City.


Full Link...

http://www.pinksheets.com/about/index.jsp

[Anthony M]

Contacting an OTCBB Issuer

OTCBB issuers are not required to maintain current address or contact information with The Nasdaq Stock Market, Inc. or the NASD; however, this information is available for many OTCBB issuers. The Stock Summaries, available on-line, contains the trading symbol, name, and annual summary trading statistics for every security quoted on the OTCBB as of December 31st of the year you select. The summary also includes address, phone number, and company contact information when it is available.

Investor Protection

It is important to note that the NASD has no regulatory authority over OTC Bulletin Board issuers. The NASD's responsibilities include establishing rules governing its broker/dealer members' business conduct; setting qualification standards for securities industry professionals; examining members for their financial and operational condition as well as their compliance with appropriate rules and regulations; investigating alleged violations of securities laws; disciplining violators of applicable rules and regulations; and responding to inquiries and complaints from investors and members.

Full Link...

http://www.otcbb.com/investorinformation/investorinfo.stm

[Anthony M]

Historical Annual Statistics

The OTC Bulletin Board began in June 1990

1991 summary information does not include data from October 1991
Real-time trade reporting commenced December 23, 1993. Prior to this date, reported volume only included principal-to-principal activity.

In April 1998, new SEC registration requirements for foreign issuers limited their eligibility for quotation on the OTCBB.

Between July 1999 and June 2000, the OTCBB removed over 3,000 securities whose issuers were not compliant with the Eligibility Rule.


Historical Annual Statistics

Year Average Daily Share Volume Average Daily Dollar Volume Securities Market Makers Positions Average Daily Transactions
1990 26,578,584 $12,506,574 4,388 235 10,165 N/A
1991 15,661,616 $13,202,023 4,124 233 10,350 N/A
1992 10,703,155 $20,968,900 4,089 315 12,141 N/A
1993 11,996,809 $32,595,685 4,178 368 13,181 N/A
1994 28,585,313 $125,674,619 5,251 376 17,436 N/A
1995 41,043,431 $127,679,538 5,450 385 20,850 6,765
1996 61,943,439 $151,812,865 5,742 408 25,000 11,224
1997 71,196,390 $175,895,245 6,462 429 32,226 14,260
1998 123,286,814 $132,559,827 6,613 396 39,966 21,586
1999 323,122,189 $250,407,107 5,499 373 43,036 52,828
2000 458,153,899 $399,322,398 4,034 321 39,987 99,831

LINK to view properly...

http://www.otcbb.com/TradingData/HistAnnualStats.stm

[Anthony M]

Eligibility Rule Phase-in Complete

The OTCBB Eligibility Rule Phase-in began on July 1, 1999 and is complete as of June 22, 2000. During the past year, the staff reviewed every company whose securities were quoted on the OTCBB for compliance with the new filing requirements.

5,601 issuers were reviewed

2,414 were eligible for continued quotation (43%)

3,187 were not eligible for continued quotation and were removed from the OTCBB (57%)

205 (as of 6/26/2000) of the 3,187 ineligible issuers subsequently met the Eligibility Rule requirements and are now quoted on the OTCBB again. (3.7%)

The Eligibility Rule protects investors by ensuring that they have access to companies’ current financial information when considering investments in OTCBB-eligible securities.
Nasdaq will continue to monitor the filing status of all OTCBB issuers. In the event of a filing delinquency, Nasdaq will append the trading symbol(s) of the delinquent issuer's security with an "E". The fifth character "E" will be removed from the symbol once Nasdaq receives notification that the security meets the requirements of the Eligibility Rule. After 30 days (60 days for non-SEC filers), if Nasdaq has not been notified that the appropriate filing has been made with the issuer's regulatory authority, the issuer's security will be removed from the OTCBB.


Link...

http://www.otcbb.com/news/EligibilityRule/ercomplete.stm


Question...Do many think that the PinkSheet Companies will get relisted? If so, how many?

[Anthony M]

I invite all to ask general questions about the OTCBB and PinkSheets markets, in order to stimulate a NOVICE discussion of the community.