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Re: LGL8054 post# 23356

Thursday, 05/29/2014 10:41:13 AM

Thursday, May 29, 2014 10:41:13 AM

Post# of 27552
Sorry, that is incorrect and misleading.

When OTC companies want to do a corporate action, they need to inform FINRA at least 10 days in advance.

However they can choose to do it only a few days before, but if they do, they'll have to pay a penalty.

http://finra.complinet.com/en/display/display.html?rbid=2403&record_id=12829&element_id=9364&highlight=6490#r12829

Form 211 has nothing to do with reverse splits.

The system is under a new way of doing business,
you will know that a company that wants to R/S today that will screw the shareholders. Now FINRA will makes the company wait 20 days after the P/R and then the shareholders can take action to prevent loss.......A Positive step to clean up the market.
http://www.otcbb.com/aboutotcbb/forms/form211.pdf


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