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Re: umsllc post# 23345

Friday, 11/21/2014 9:54:58 PM

Friday, November 21, 2014 9:54:58 PM

Post# of 26916
FLST files on EDGAR, not on OTC Markets, . Thats why you see them on SEC.gov, as well as OTCmarkets.com . The numbers ARE audited by a PCAOB accounting firm. FLST was OTCQB until the price slipped below a penny in May. Since FLST files on EDGAR, every material fact has to be disclosed with an 8-K. Last fall the SEC changed its rules and said companies could use social media to release news to the public, but last timeI checked there are hardly any PCAOB audited companies doing this…it can get them in sticky situations.. I recently read the results of a study from BDO and only 11% of the PCAOB audited companies say they will consider social media for news dissemination. So, even though FLST shares are trading for fractions of a penny ,the fact that the FLST files on EDGAR requires them to adhere to stricter standards than a non-Edgar filing company.

]All my iHub posts are just my opinion. It is not a recommendation to buy or sell a stock. Due to possible human error, I can not guarantee the accuracy of the posted information. As always do your own Due Diligence before investing.