These days with the new rules kicking in to be listed on OTCQB, that stock maintain price of .01 avg. for at least a month and not drop below for more than a month (more or less, in roughest terms), and be current in filings and so on to encourage serious investors, that would be the only legit reason to do an R/S like this.
8000:1 should've guaranteed such eligibility even though KParry has run the company stock to the lowest level .0001 and sometimes no bid. But BEWARE people, company is no more compliant than it was before even to stay Pink:
VIZSD
Kimberly Parry Organics, Corp.
OTC Pink No Information Logo
Common Stock
OTC Pink No Information
[No Information Warning]
.750.00 (0.00%)
Real-Time Best Bid & Ask
0.1001 / 0.75 (1 x 1)Why is size 1?
Previous Close 0.75 Open 0.75
Daily Range 0.75 - 0.75 52wk Range 800.00 - 0.60
Volume 300 Dividend N/A
Average Vol (3m) 987 Yield N/A
No Information Warning
This company may not be making material information publicly available.
If you are an affiliate, employee, insider, or any person in possession of nonpublic material information about this company, please be advised that buying or selling this security may constitute trading "on the basis of" material nonpublic information prohibited under Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5 and 10b5-1 thereunder. Violators of these laws are subject to civil and criminal penalties.
What is insider trading?
Illegal insider trading refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security.
Rule 10b5-1 provides that a person trades on the basis of material nonpublic information if that person is "aware" of the material nonpublic information at the time of the purchase or sale.
Affiliates, insiders, relatives, or other persons in possession of material information should use extreme caution when buying or selling securities on the basis of material information, particularly in securities where the company is not making adequate current information publicly available as a matter of practice.
Why does OTC Markets display this warning?
Companies that are identified on otcmarkets.com as having “No Information” may be placing their shareholders at risk of violating 10b5-1 insider trading rules. OTC Markets recommends that investors wishing to place a trade in such securities contact the company to verify it is making adequate current information publicly available.
GOOD LUCK WITH THAT~ KP Organics long ago removed even the Investor Relations section from its website and no one on this board incl. myself has had queries returned in a very long time.
Even when they were returned we never learned anything, then when an R/S became seemingly inevitable company totally shut out investors. JIMHO I'd be very careful about even flipping this when price dips enough to jump back in -- whenever that might be.
